Digital transformation of banking industry: From resolution to concrete action

(Chinhphu.vn) - On May 27, the State Bank of Vietnam officially launched two major movements to realize Resolution 57-NQ/TW. With the spirit of drastic and comprehensive innovation, the banking industry aims to become a pioneer in national digital transformation.

State Bank Governor Nguyen Thi Hong speaks - Photo: VGP/HT

Digital transformation must go into depth and spread throughout the industry.

At the conference launching the movement "The whole country competes in innovation and digital transformation" and "Digital education for the masses", Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong emphasized that the spirit of Resolution 57-NQ/TW of the Politburo and the Government's direction has been absorbed by the entire banking industry and concretized by the detailed Action Plan in Decision No. 1364/QD-NHNN dated March 5, 2025. At the same time, the Steering Committee for Science, Technology Development and Digital Transformation was also established.

Ms. Nguyen Thi Hong said that the banking sector has identified key groups of tasks, from perfecting institutions, improving infrastructure, developing high-quality human resources, to strengthening international cooperation and promoting a culture of innovation. The tasks have been assigned to each unit in the sector for consistent and effective implementation, ensuring synchronization with the national science and technology development program.

In particular, the "Digital Literacy for All" movement is expected to not only popularize digital skills for staff in the industry, but also spread awareness and innovative actions to every citizen and business - the central subjects in the digital transformation process.

"The banking industry must be a pioneer in implementing innovation and digital transformation for the entire population, comprehensively and throughout the process. Each civil servant, public employee and worker must be the nucleus to spread the culture of innovation, lifelong learning and mastery of technology," Governor Nguyen Thi Hong emphasized.

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

Innovation is the lever for Vietnam to break through

Speaking at the opening of the Conference, Deputy Governor of the State Bank of Vietnam Pham Tien Dung emphasized the strategic importance of Resolution 57-NQ/TW in the context of the world facing unpredictable fluctuations such as trade wars, epidemics, energy crises and climate change. Mr. Pham Tien Dung said that digital transformation and innovation are no longer options, but are vital conditions for survival and development.

Citing a World Bank report, Mr. Pham Tien Dung pointed out that by 2024, the digital economy will account for 15% of global GDP - equivalent to about 16,000 billion USD. Many countries have identified this as a core development driver. In Vietnam, the Politburo has issued a series of strategic resolutions - called the "four pillars" including: Resolution 57 on innovation; Resolution 59 on international integration; Resolution 68 on private sector development and Resolution 66 on legal institutional innovation.

On that basis, Deputy Governor Pham Tien Dung affirmed: Developing science and technology, innovation and digital transformation are strategic breakthroughs and the main driving force for modernizing the country. Mr. Pham Tien Dung shared that the State Bank has issued a specific implementation plan, widely launched two emulation movements, selected typical initiatives to spread and popularize throughout the industry.

SBV Deputy Governor Dao Minh Tu speaks at the conference - Photo: VGP/HT

At the conference, many experts and senior officials said that one of the key factors for successful digital transformation is people. Therefore, the banking industry pays special attention to developing digital human resources. Updated data shows that major banks such as VietinBank, MB Bank, Techcombank, Agribank, BIDV, VIB have trained tens of thousands of staff in the period 2022-2025, focusing on digital skills, artificial intelligence and financial technology.

Not only that, credit institutions have implemented hundreds of digital initiatives each year. Typically, BIDV with 299 initiatives in 2024, TPBank (135 initiatives), VietinBank (100 initiatives), Vietcombank (98 initiatives), or Shinhan Bank Vietnam with 69 typical initiatives.

Banks sign emulation pact and agreement to enhance comprehensive cooperation - Photo: VGP/HT

The implementation of the emulation movement is also associated with the goal of promoting a "culture of data-based decision-making", building a smart digital ecosystem, ensuring safety and security, and improving user experience. To date, more than 87% of adults in Vietnam have bank accounts, many basic operations have been completely digitized such as opening accounts, transferring money, making savings, online lending, etc.

The SBV leader said: In the coming time, the banking industry will continue to improve the legal corridor to facilitate innovation, while promoting the deployment of large-scale data, computing and storage platforms.

Digital initiatives will be evaluated based on feasibility and practical impact, and typical models will be replicated. In addition, the industry will continue to promote strong communication on digital culture, lifelong learning, and innovation, with the determination to bring digital transformation to every unit, every staff member, and every product. With that foundation, the entire banking industry is ready to make a stronger breakthrough in its pioneering role, effectively implementing the strategic goals set out in Resolution 57-NQ/TW, contributing to promoting the development of the digital economy, digital society, and moving towards a prosperous and modern Vietnam in the digital age.

Mr. Minh

Source: https://baochinhphu.vn/chuyen-doi-so-nganh-ngan-hang-tu-nghi-quyet-den-hanh-dong-cu-the-102250527141239551.htm