Connecting banks with people and businesses

The Prime Minister requested that the digital transformation of the banking sector must focus on creating better conditions for increasingly convenient connections between the banking sector, especially commercial banks, with people, businesses, and the State; contributing to the country's rapid and sustainable development.

On the afternoon of May 29, Prime Minister Pham Minh Chinh, Head of the Government's Steering Committee on Science, Technology, Innovation, Digital Transformation and Project 06 attended the event "Digital Transformation of the Banking Industry for the 4th time in 2025" with the theme "Smart Digital Ecosystem in the New Era" - a practical event to implement Resolution 57-NQ/TW of the Politburo on breakthroughs in science and technology development, innovation and digital transformation; at the same time, concretizing the theme of national digital transformation in 2025 "Digital transformation for the whole people, comprehensively, throughout the process to accelerate and break through the development of the digital economy."

Most financial transactions are digital.

According to the State Bank of Vietnam, in recent times, digital transformation activities in the banking sector have achieved encouraging results, contributing to the overall development of the economy .

In particular, the legal corridor to promote digital transformation of banking activities has been completed; the infrastructure serving digital transformation of the banking industry has been focused on investment, upgrading, and development; many friendly banking products and services with rich utilities, bringing practical values, well meeting the diverse needs of customers; many basic operations of the banking industry have been completely digitized; the work of ensuring security and safety has always been focused on.

Many credit institutions in Vietnam have a rate of more than 90% of transactions conducted via digital channels. To date, more than 87% of Vietnamese adults have bank accounts, and non-cash payments are growing positively. Vietnam has completed connecting the cross-border payment system via QR codes with Thailand and Cambodia and is continuing to deploy it with Laos.

At the event, speakers shared achievements in digital transformation of the banking industry such as applications and utilities in savings deposit transactions, term deposits, opening and using payment accounts, opening bank cards, e-wallets, money transfers, loans... Thereby, saving costs, time, materials, ensuring safety and convenience for people and businesses.

Prime Minister Pham Minh Chinh visits an exhibition of products, services and digital transformation applications in banking activities. (Photo: Duong Giang/VNA)

Mr. Phung Duy Khuong, Permanent Deputy General Director of Vietnam Prosperity Joint Stock Commercial Bank (VPBank) said that one of the most convenient, innovative and modern lifestyle trending payment solutions is contactless payment.

VPBank deploys this solution as a commitment to the Government and customers and will continuously invest in expanding the modern cashless payment ecosystem, contributing to the construction of a digital economy, a cashless society, a modern, transparent, safe and sustainable lifestyle.

According to the speakers, in addition to impressive results and achievements, the banking industry still faces many challenges such as: lack of data connectivity; challenges in protecting personal data; risks of cyber security and new generation digital fraud; lack of human resources for digital transformation in both scale and quality...

To build a smart digital ecosystem, the speakers suggested that the banking industry should focus on completing and promoting the implementation of the goals in the resolutions of the Central and the Government on digital transformation and digital transformation of the banking industry; continue to perfect institutions to promote and remove difficulties in digital transformation and innovation in the banking industry; continue to upgrade and perfect technology infrastructure and digital transformation of the banking industry; ensure system security and safety.

Along with that, build and connect a shared database of the banking industry and other industries and fields to expand the digital ecosystem and develop digital banking and digital payment services; strengthen international cooperation to update new technology trends, learn from experiences of other countries; promote communication, financial education and guidance on accessing services and utilities for people and businesses...

Mr. Do Quang Vinh, Vice Chairman of the Board of Directors and Deputy General Director of Saigon-Hanoi Bank (SHB) shared that with a comprehensive transformation strategy and the resonance from leading technology corporations, SHB aims to build a future bank that truly understands and develops for customers. With the impact of the digital revolution, banks today not only have the task of providing financial solutions but also contribute to redefining customer experiences in the digital age.

Digital Transformation is the Heart of the Banking Industry

Speaking at the event, Prime Minister Pham Minh Chinh expressed his delight at visiting the exhibition displaying products, services, and digital transformation applications in banking activities; stating that through these products, it shows the high determination, very active and effective participation of banks, especially digital transformation with the spirit of taking people and businesses as the center, as the subjects to serve.

Appreciating the State Bank of Vietnam and commercial banks for allocating a VND500 trillion credit package to serve infrastructure development and implement Resolution 57-NQ/TW of the Politburo on breakthroughs in science and technology development, innovation and digital transformation, the Prime Minister requested the banking sector to expand this credit package further and with more preferential interest rates, for the development of the country.

Prime Minister Pham Minh Chinh visits an exhibition of products, services and digital transformation applications in banking activities. (Photo: Duong Giang/VNA)

In the coming time, the Prime Minister requested that the digital transformation of the banking sector must focus on creating better conditions for the connection between the banking sector, especially commercial banks, with people, businesses, and the State to become more and more convenient; contributing to the rapid and sustainable development of the country; contributing to the development of digital government, digital society, digital citizens; contributing to stabilizing the macro economy, ensuring major balances of the economy; bringing benefits to people and businesses; reducing costs for banks and contributing to preventing and repelling corruption and negativity.

According to the Prime Minister, to achieve the above goals, the digital transformation of the banking sector must closely follow the Party's guidelines and policies, the State's laws and policies, take drastic actions, improve efficiency; seize opportunities, take the lead in technology and promote development; pioneer in technology and take the lead in innovation; diversify products, be professional in providing services and ensure security and confidentiality; put people and businesses at the center, the subject and for the benefit of people and businesses.

Directing the banking industry to pioneer, accelerate, and make breakthroughs to reach the finish line in digital transformation, the Prime Minister requested the banking industry to perfect institutions, policy mechanisms, promote comprehensive digital transformation of the banking industry, contributing to the development of the digital banking ecosystem; develop digital infrastructure, promote electronic payments, promote online public services throughout the process, develop digital platforms, modern digital utilities; promote digital transformation for people and businesses, especially for people in remote areas, disadvantaged people, leaving no one behind; develop high-quality human resources; ensure security and safety of the banking industry.

The Prime Minister noted that the banking sector should urgently organize the implementation of a controlled testing mechanism in the banking sector; review legal regulations to promulgate, amend and supplement them to ensure consistency and suitability; develop digital infrastructure and modern digital platforms, ensure system security and safety, and have high interoperability; and promote the application of key technologies such as artificial intelligence, big data, cloud computing, and blockchain in banking operations.

The Prime Minister requested the development of diverse, convenient and personalized digital banking products and services, the development of new and creative digital financial products and services to meet the increasingly high and diverse needs of customers; the development of digital data, combined with Project 06 to create momentum to promote digital transformation of the banking sector, focusing on providing banking services and utilities to people and businesses through the VNeID platform; promoting connection and data sharing between national and specialized databases and the National Public Service Portal, promoting fast, convenient and safe online payments; striving to complete the upgrade of 100% of eligible administrative procedures to full-process online public services by 2025.

The Prime Minister noted that it is necessary to diversify training forms and develop human resources to meet the transformation requirements of the banking sector; promote propaganda about the benefits of digital transformation in the banking sector to each citizen and business, helping people understand the benefits and efficiency, and at the same time prevent possible risks.

With the motto "what is said must be done, what is committed must be done, what is done must have specific results", recalling the very timely and effective credit packages that the banking sector has allocated for previous programs, the Prime Minister requested that the State Bank urgently organize and implement the 500 trillion VND credit program for infrastructure development and science and technology development, digital transformation, ensuring feasibility, efficiency, timeliness, and correct goals and targets to encourage businesses to invest in promoting economic growth; proactively monitor, inspect and supervise the implementation of the above program, promptly handle and remove difficulties and obstacles if any.

Concerned about digital transformation solutions for small and medium enterprises, especially micro enterprises, especially for 5 million business households, including tax collection through electronic invoices generated from cash registers, Prime Minister Pham Minh Chinh emphasized that banking is the lifeblood of the economy and digital transformation is the heart of the banking industry, so the banking industry continues to pioneer, accelerate, and make breakthroughs in innovation, creativity, and digital transformation.

The Prime Minister believes that with the efforts, determination, proactiveness and creativity of the State Bank of Vietnam, credit institutions, and the digital transformation of the banking sector, there will be many positive and comprehensive changes, bringing practical benefits to businesses and people and positively contributing to the rapid and sustainable socio-economic development of the country.

Source: VNP

Source: https://phunuvietnam.vn/ket-noi-giua-ngan-hang-voi-nguoi-dan-doanh-nghiep-2025052922044712.htm