Banks move to multi-functional financial group model

Many banks have been building models with full fields: banking, life insurance, non-life insurance, securities, fund management companies and will soon expand to the digital asset sector.

The trend of developing towards financial groups has also begun to take shape for quite a while, especially in banks listed on the stock market. Many banks have been building models with full fields: banking, life insurance, non-life insurance, securities, fund management companies and will soon expand to the digital asset sector. The formation of this model, according to experts, comes from the natural needs of the market. Especially after the Government issued Resolution 05/2025/NQ-CP on piloting the crypto asset market, many banks have joined hands to cooperate or make strategic investments in trading platforms such as LPEX (LPBank), HDEX ( HDBank ), TCEX (Techcombank) and CAEX (VPBank). MB even signed a memorandum of understanding with Dunamu Group - the operator of the Korean Upbit exchange - to receive technology and experience in operating the digital asset exchange. These moves show careful preparation to take advantage of new markets while retaining young customers in the digital ecosystem.

In addition, banks are also preparing to enter the gold market after Decree 232/2025/ND-CP on the management of gold trading activities takes effect. Some banks said they have prepared infrastructure, partners and implementation plans.

According to experts, expanding business segments and ecosystems not only helps banks diversify their revenue sources, but also moves towards a modern financial group model - a popular trend in the world . Banks will play a central role, connecting services such as insurance, investment, asset management and digital assets.

Mr. Quan Trong Thanh, Director of Analysis Department of Maybank Securities Vietnam, said that when investors' accumulated assets reach a certain threshold, the demand will shift from simple savings to portfolio diversification: real estate, bonds, stocks and even digital assets. At that time, banks with advantages in capital, human resources and risk management capacity will be the organizations capable of providing a full package of financial services.

The same thing happens at the corporate level. As customers move from SMEs to larger businesses, they not only need capital, but also specialized investment consulting and asset management services. Private banking (a premium service exclusively for customers with large assets) and Wealth Management (asset management) have become essential. Wealth Management not only supports capital and services for business operations, but also advises on optimal allocation of personal and family assets, with a portfolio that has expanded from traditional assets to digital assets. Providing this service to customers requires a team of professional consultants with a deep knowledge base. Therefore, according to Mr. Thanh, any bank that wants to seriously participate in this field must move closer to the model of a multi-functional financial group. To prepare for this transition, pioneering banks have built and trained internal consulting teams, which usually take about two years to "build troops". “I think that in the coming period, the competition in attracting and developing high-quality human resources for this sector will be a huge challenge for banks,” Mr. Thanh commented.

Dr. Nguyen Minh Cuong, an economic expert, agrees that the trend of forming financial groups is inevitable, because when accumulating enough capital and capacity, businesses will have the need to expand into the financial sector. On the bank side, not only lending but also taking the lead in digital transformation, green credit, risk management and providing comprehensive financial services. However, the speed of reform of state management agencies needs to be "one step ahead". Because if we do not soon complete the legal framework, the formation of financial groups can create systemic risks. There needs to be a synchronous monitoring mechanism, especially when banks become the center of the financial ecosystem.

From a more practical perspective, Mr. Le Hoai An, Banking Strategy Research Expert, pointed out: the problem lies not only in market trends, but also in the current growth model of banks increasing outstanding loans, expanding networks, issuing cards and increasing the number of payment accounts... is also approaching saturation point. Meanwhile, capital costs, competitive pressure and shareholder expectations are increasing. Therefore, the new driving force must come from exploiting depth, that is, making better use of existing customer files by expanding the product ecosystem and increasing the value per customer. In addition, competition from non-bank organizations, especially fintech and consumer finance companies, is increasingly fierce. These organizations are flexible, focus on user experience and are gradually dominating segments that were previously exclusive to banks.

In the new development context, building an integrated financial ecosystem is not only a strategy to retain customers but also a new competitive weapon, helping banks maintain their central position in the personal financial value chain.

Source: https://thoibaonganhang.vn/ngan-hang-dich-chuyen-sang-mo-hinh-tap-doan-tai-chinh-da-nang-173242.html