Banks must be at the forefront of digital transformation.

(Chinhphu.vn) - The 2026 "Digital Transformation in the Banking Sector" competition has officially launched on a large scale, bringing together banks, fintech companies, and universities. Deputy Governor of the State Bank of Vietnam (SBV) Pham Tien Dung affirmed that the banking sector is strongly promoting a modern and secure digital financial ecosystem.

Mr. Pham Tien Dung, Deputy Governor of the State Bank of Vietnam: Digital transformation has become a strategic task for the banking sector - Photo: VGP

Digital transformation has become a strategic task for the banking industry.

On May 22nd, the Vietnam Banking Union inaugurated the 2026 "Digital Transformation in the Banking Industry" competition with the theme "Proactive Digitalization - Breaking Through to the Future". Speaking at the event, Mr. Pham Tien Dung, Member of the Standing Committee of the Party Committee, Deputy Governor of the State Bank of Vietnam, Chairman of the Vietnam Banking Union, and Head of the Steering Committee and Organizing Committee of the competition, emphasized that digital transformation is an inevitable trend, contributing to improved labor productivity, competitiveness, and economic growth.

Over the past period, the banking sector has implemented many comprehensive solutions such as perfecting the legal framework, developing digital infrastructure, expanding cashless payments, and applying artificial intelligence, big data, and electronic identification in banking operations.

According to Mr. Pham Tien Dung, trade unions at all levels have actively propagated and raised awareness about digital transformation, launching many emulation movements and initiatives to apply technology to work. The competition was organized to enhance knowledge and develop digital capabilities for officials and union members; at the same time, it created a forum for exchange, sharing experiences, and spreading digital transformation solutions throughout the industry.

This year's competition attracted the participation of 32 teams with nearly 700 contestants from banks, financial institutions, universities, and fintech companies - Photo: VGP

The bank emphasizes digital data and customer experience.

The 2026 "Digital Transformation in the Banking Industry" competition attracted 32 teams with nearly 700 participants from banks, financial institutions, universities, and fintech companies. Many large organizations participated, including Agribank, Vietcombank, BIDV, VietinBank, Techcombank, TPBank,SHB , MB, VAMC, etc. The program was also attended by Mr. Le Quang Vinh - General Director of Vietcombank, along with representatives from many partner organizations.

In a side discussion at the competition, Ms. Tu Thi Kim Thanh, a member of the Board of Directors of Agribank, stated that digital transformation not only helps banks improve operational efficiency but also strengthens long-term relationships with customers. According to her, Agribank is building a customer experience journey that is safe, simple, and tailored to each customer group.

Meanwhile, Ms. Phung Thi Hai Yen, Deputy General Director of Vietcombank, said that the bank has connected to and utilized national data through VNeID to support faster and more secure customer authentication. Vietcombank has also implemented dynamic QR code technology, which helps reduce transaction time by approximately 75% and completely eliminates manual data entry.

According to the Organizing Committee, the competition consists of three rounds: “Combining Strength,” “Conquering the Digital Age,” and “Creating the Digital Future.” The content focuses on showcasing the organization's identity, testing knowledge of digital transformation on tablets, and presenting innovative ideas for the banking industry. In particular, the “Creating the Digital Future” round is expected to provide many practical solutions to improve management efficiency, optimize business processes, and promote the development of digital banking.

According to Mr. Pham Anh Tuan, Director of the Payment Department (State Bank of Vietnam), in the first five months of 2026, cashless payments increased by approximately 38% compared to the end of 2025. Specifically, internet transactions increased by 66%, mobile transactions by 33%, and QR payments by over 50%. The banking sector has also implemented bilateral QR payments with China and South Korea, and plans to expand to Singapore, Taiwan (China), and India by the end of the year.

However, according to representatives from the State Bank of Vietnam, the biggest challenges in digital transformation remain the availability of technological human resources and the security and safety of digital payment systems. Regulations on security, biometric authentication, and identification via VNeID are being further tightened to ensure user safety.

Mr. Minh

Source: https://baochinhphu.vn/ngan-hang-phai-tien-phong-chuyen-doi-so-102260522174213595.htm