Set target of cashless payment 30 times GDP by 2030

VTV.vn - The entire banking industry aims that by 2030, 95% of the population aged 15 and over will have a transaction account at a bank...

Set a target of cashless payments 30 times GDP by 2030

The State Bank of Vietnam has just issued the Strategy for Digital Transformation of the Banking Industry by 2030. Accordingly, the entire banking industry aims that by 2030, 95% of the population aged 15 and over will have a transaction account at a bank...

Strive for the value of non-cash transactions to be 30 times higher than GDP (currently about more than 20 times). The State Bank of Vietnam also identifies a series of digitalization targets at the state management and executive levels. All qualified administrative procedures will be provided as full-process online public services, accessible on many devices, including mobile devices. Strive for 95% of administrative records to be processed online; at least 90% of people and businesses to be satisfied with online public services. 100% of full-process online public services will apply artificial intelligence (AI).

The State Bank also aims for at least 70% of the State Bank's inspection and supervision activities to be carried out in a digital environment. All work records that are allowed to be made public according to the law will be processed and stored online. All important information systems will be modernized such as: the national interbank electronic payment system, core banking system, centralized treasury, State Bank reports, executive document management system, LGSP platform, SIMO, SOC, risk management, credit, money laundering, gold market...

Notably, the State Bank will complete the construction of the Intelligent Monitoring and Operation Center (IOC), putting into operation new databases including: national data on bank customers, shared specialized data and gold market management data.

Security and safety infrastructure continues to be upgraded according to the 4-layer information security model and regulations on protecting state secrets in cyberspace. Monitoring systems use AI/Big Data to warn and support incident handling.

Source: https://vtv.vn/dat-muc-tieu-thanh-toan-khong-tien-mat-gap-30-lan-gdp-vao-nam-2030-100251125212337803.htm