Banks are stepping up the application of digital technology:

In recent times, the banking sector has continuously undergone changes in digital technology to adapt to the trends of the times, increase competitiveness, and meet the needs of people and businesses. Implementing Resolution No. 57-NQ/TƯ dated December 22, 2024, of the Politburo on breakthroughs in the development of science, technology, innovation, and national digital transformation, many banks continue to accelerate the transformation and application of new technologies to improve operational efficiency and contribute to the sustainable development of the national economy.

Customers conduct transactions at the LiveBank automated banking system of Tien Phong Commercial Joint Stock Bank.

Over 95% of transactions are conducted through digital channels.

Innovating operations to align with the trends of the times, Deputy Governor of the State Bank of Vietnam Pham Tien Dung stated that in recent years, the legal and policy framework for payment activities in the banking sector has been increasingly perfected, promoting digital transformation and cashless payments, meeting the payment needs of people and businesses. The diverse digital ecosystem has brought many attractive benefits to users.

To date, most basic banking services have been conducted digitally, with many banks achieving a rate of over 95% of transactions conducted digitally. According to statistics from the first months of 2025, the total number of cashless payment transactions increased by 41.28% in quantity and 21.91% in value; via the internet increased by 35.81% in quantity and 29.69% in value; via mobile phone increased by 35.13% in quantity and 18.63% in value; and transactions via QR code increased by 75.54% in quantity and 196.62% in value.

In coordinating, exploiting, and utilizing information from the National Population Database and information on chip-embedded citizen identity cards to manage account systems at credit institutions, more than 108 million customer records have been collected and biometric information verified, payment activities have proceeded normally, contributing to reducing the number of fraud cases resulting in customer financial losses.

The digital transformation wave has been strong in the banking industry, even before the issuance of Resolution No. 57-NQ/TƯ. Many banking services and products have been digitized, making it easier for customers to use them. In fact, now, with just a simple command or a tap, users can easily shop, make payments, or perform a range of services without having to go to the bank in person.

Leading the digital transformation are the banks in the "Big 4" group: Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank), Vietnam Joint Stock Commercial Bank for Foreign Trade (Vietcombank), Vietnam Joint Stock Commercial Bank for Investment and Development (BIDV), and Vietnam Bank for Agriculture and Rural Development ( Agribank ).

Continue to accelerate digital transformation and apply new technologies.

In implementing Resolution No. 57-NQ/TƯ, representatives from the aforementioned "Big4" banks all committed to implementing Resolution No. 57-NQ/TƯ, promoting digital transformation and innovation, in order to improve operational efficiency and contribute to the sustainable development of the national economy .

Recently, the General Director of Agribank issued an action plan on breakthroughs in science and technology development and digital transformation, aiming to improve operational efficiency and promote innovation throughout the system. Accordingly, Agribank will focus resources on connecting to and applying the National Population Database, upgrading information technology infrastructure, and deploying products and services utilizing new technologies to meet market demands and attract customers. At the same time, Agribank will promote innovation, not only in technology but also in working methods, creating productivity and efficiency.

Not to be left behind, private commercial banks are also accelerating the deployment of new technological applications in their operations to improve efficiency and increase competitiveness. According to Nguyen Hung, General Director of Tien Phong Commercial Joint Stock Bank (TPBank), TPBank has comprehensively applied cloud computing, big data, and artificial intelligence (AI) in its operations. One of the key advancements is the integration of cloud storage technology to modernize data infrastructure, improve efficiency across all transaction channels, and develop machine learning models.

Representatives from Military Commercial Joint Stock Bank (MB) also stated that the MB application alone recorded 20 million transactions per day at times, with a stable, safe, and secure system. The number of customers transacting through MB's digital channels currently accounts for approximately 96.7%, with a transaction success rate of 99.96%; maintaining its leading position in terms of scale. MB is a pioneer in developing a super app, including more than 200 mini-apps integrated into the banking application. Customers can perform banking transactions anytime, anywhere with just their smartphone.

Meanwhile, regarding the implementation of Resolution No. 57-NQ/TƯ, Deputy Governor of the State Bank of Vietnam Pham Tien Dung stated that the State Bank of Vietnam is researching and consulting the experience of several central banks around the world in implementing digital currency projects; coordinating with ministries, sectors, and agencies to research digital currencies and report to the Prime Minister, proposing the assignment of a lead agency for implementation.

Source: https://hanoimoi.vn/ngan-hang-day-manh-ung-dung-cong-nghe-so-tang-canh-tranh-nang-hieu-qua-702165.html