Digital banking transformation: From technology thinking to human resource problem

(Chinhphu.vn) - Digital transformation in the banking industry is no longer a trend, but a mandatory requirement. However, to effectively "digitalize", the big problem does not lie in technology, but in people - the resource that determines the success or failure of every digital revolution.

Deputy Governor of the State Bank Pham Tien Dung speaks at the Forum - Photo: VGP/HT

Bank restructures human resources, upgrades technology infrastructure

At the Banking Human Resources Forum in the face of the technology wave with the theme "Banking in the digital age: Model innovation and human resource restructuring", Deputy Governor of the State Bank Pham Tien Dung shared: In just one banking application, users can not only conduct financial transactions but also perform many other utilities such as booking airline tickets, looking up transportation methods, paying bills... This shows that the level of connection and integration between banking and other fields such as transportation, tourism , trade... is at a very high level.

In addition, the banking industry is also rapidly adapting to the emergence and strong application of new technologies such as virtual assets, smart contracts, electronic signatures, etc. These technologies are gradually changing habits and methods of processing business operations throughout the banking system.

Not only innovating in terms of services, banks today also identify information technology risks as a major risk, equivalent to credit risks. Since then, many banks have built and deployed separate technology risk management systems. In the context of increasingly sophisticated and complex cyber risks, the approach to technology risk management requires new thinking, focusing highly on ensuring information security and safety. This forces the banking industry to restructure processes and operations towards applying smart and flexible technology.

Therefore, bankers in the current period not only need to understand traditional operations but also need to be proficient in technological skills. These two skills need to go hand in hand to be able to design and implement digital business processes. Any bank that fails to meet this requirement will face difficulties in the digital transformation competition, thereby gradually forming a new workforce for the entire industry.

From these changes, the infrastructure serving the digital transformation of the banking industry has also been prioritized for investment and strong development. The interbank electronic payment system currently processes an average of about 820 trillion VND per day. Meanwhile, the financial switching and electronic clearing system records about 26 million transactions per day.

According to statistics from the State Bank, nearly 87% of adults in Vietnam now own a bank account. The value of non-cash transactions is now 25 times higher than GDP. In the first 5 months of 2025 alone, non-cash transactions continued to grow strongly, of which transactions via QR codes increased by more than 78% in quantity and increased by more than 216% in value. Notably, most basic banking services are now performed on digital platforms, with the transaction digitization rate at many banks reaching 95%.

In addition, many important operations such as savings deposits, term deposits, account opening, card issuance, money transfer, lending, etc. have been completely digitized. Thanks to that, the digital ecosystem and digital payment of the banking industry have been established, creating close connections with many sectors in the economy , thereby bringing a seamless and convenient experience to customers.

Banking Human Resources Forum in the face of technology wave with the theme "Banking in the digital age: Model innovation and human resource restructuring" - Photo: VGP/HT

Solving the problem of technology human resources - a big challenge in digital transformation

Despite achieving positive results, Deputy Governor Pham Tien Dung affirmed that "the banking industry has never been as thirsty for technology human resources as it is today".

The pressure is increasing as technologies such as artificial intelligence (AI), big data, blockchain and cloud computing are radically changing the way banks operate. For example, blockchain technology changes the way data is stored, enhances security and reduces operating costs. Meanwhile, robotic process automation (RPA) has replaced a series of traditional positions such as tellers, internal control staff and credit appraisal.

A representative of Vietnam Prosperity Joint Stock Commercial Bank ( VPBank ) frankly shared that digital transformation in the organization is no longer just a story of the IT department, but has been deeply integrated into all business activities.

"Previously, technology was a separate group, supporting computer installation and repair. Now, it is a skill that every employee needs," said a VPBank representative.

In the past 5 years, VPBank has made significant changes in the way it uses and develops technology-capable personnel. While previously recruitment positions focused on industry experience, now, in addition to expertise, the ability to use digital tools to optimize work is a mandatory requirement. Instead of needing 10 people, now, one person who masters the tools can handle a larger workload.

Not only changing the organizational model, VPBank also expanded recruitment to many other human resources, not limited to traditional finance and banking schools. Young people who are knowledgeable about AI, social networks, and digital skills are given the opportunity to refresh the apparatus, adding a "new wind" instead of just recruiting from the old banking system.

Banking expert Nguyen Tri Hieu - Photo: VGP/HT

Banking expert Nguyen Tri Hieu warned: Digital transformation is an inevitable trend, but we cannot expect technology to be a "panacea". According to Mr. Hieu, although technology supports better risk control, risks are also increasingly sophisticated, especially in terms of cyber security, data leaks, and digital fraud, so even so, AI cannot replace humans for at least the next 10 years.

Dr. Dang Ngoc Duc said that there is a serious shortage of human resources in technology and finance in Vietnam. For example, the opening of the Fintech major in Vietnam is a typical example. At the National Economics University, although it started construction in 2018, the program is still very "struggling". One of the main barriers is the requirement to have 5 PhDs in the right major, which is almost impossible for a new field like Fintech.

In addition, the difficulty in recruiting students is also very great, society does not fully understand the value of the new profession, tuition fees are high due to having to invite foreign experts to teach, students have to study urgently in English... All of these make Fintech training programs really difficult to reach a large number of learners.

Mr. Luu Danh Duc, Deputy General Director and Director of IT Division of LPBank - Photo: VGP/HT

Mr. Luu Danh Duc, Deputy General Director and Director of IT Division of LPBank, shared that at the end of 2024, this bank implemented a "streamlining" program - reducing from 18 blocks to 8 blocks, merging all technology, data, digital banking departments... to optimize operational efficiency.

However, Mr. Duc said: The core problem is not technology, but social infrastructure, law and organizational thinking. Mr. Duc gave the example of experiencing Tesla cars in the US: although self-driving technology is very advanced, if applied in Vietnam - where infrastructure and traffic awareness are not high, it will be dangerous. The same goes for digital banking transformation, if only technology is imported without a suitable social foundation, the efficiency will be very low.

Another big challenge is human resources. "We are always short of people, recruiting is difficult, retaining good people is even more difficult," Mr. Duc shared.

Economist Le Xuan Nghia emphasized: "AI and blockchain are no longer trends, but the foundation of a new era." However, Mr. Nghia believes that the key decision is still people. "Japan and South Korea are successful not because of resources, institutions or culture, but because they attract and respect talent," Mr. Nghia emphasized. Mr. Nghia suggested that Vietnam needs to have a Fintech scholarship program, build labs to practice AI and blockchain, and loosen barriers to opening new training majors.

Mr. Minh

Source: https://baochinhphu.vn/chuyen-doi-so-ngan-hang-tu-tu-duy-cong-nghe-den-bai-toan-nhan-luc-102250716152415595.htm