Governor of the State Bank of Vietnam, Pham Duc An, emphasized the spirit of innovation, proactive digitalization, and the aspiration to build a modern, smart, and sustainably developing banking industry in the digital age. - Photo: VGP
The banking sector and its determination to make technological breakthroughs and undergo digital transformation.
Speaking at the Closing Ceremony and Awarding of Prizes for the "Digital Transformation in the Banking Industry" Competition 2026 held on May 23rd, Mr. Pham Duc An - Governor of the State Bank of Vietnam (SBV) assessed: The active participation, sense of responsibility, and serious preparation of the competing teams have contributed to strongly spreading the spirit of innovation, proactive digital transformation, and the aspiration to build a modern, smart, and sustainably developing banking industry in the digital age.
Over the years, the banking industry has consistently been a pioneer in applying technology and promoting digital transformation. Non-cash payments have grown rapidly; many credit institutions conduct over 90% of their transactions through digital channels. Furthermore, the ecosystem of digital banking products and services is becoming increasingly diverse and convenient.
However, according to the Governor of the State Bank of Vietnam, in addition to the achievements, the banking sector is still facing many challenges such as increasingly high demands for information security and safety; pressure to develop digital human resources; disparities in digital transformation capabilities among different units; and the need for more vigorous innovation to adapt to new technological trends.
In the coming period, to further promote digital transformation in banking and realize national digital transformation goals, the Governor of the State Bank of Vietnam proposed that the entire banking sector focus on implementing several key tasks and solutions.
Specifically, we will continue to adhere to the guiding principle of "putting people and businesses at the center, data as the foundation, and technology as the driving force." At the same time, we will accelerate the improvement of institutions, mechanisms, policies, and legal frameworks to support the development of science and technology, innovation, and digital transformation in the banking sector.
Furthermore, the entire industry continues to focus on developing digital infrastructure, digital data, and a synchronized and modern digital banking ecosystem. The enrichment, standardization, connection, and effective utilization of specialized databases need to be further promoted.
The Governor also emphasized the continued importance of cybersecurity, data security, and information safety as overarching requirements throughout the entire digital transformation process. The development of digital products and services must go hand in hand with protecting personal data, strengthening fraud prevention in the digital environment, and ensuring the safe and continuous operation of critical information systems.
According to Governor Pham Duc An, the banking sector will also continue to prioritize the development of digital human resources and the building of a digital culture throughout the industry.
"The initiatives, contributions, and dedication of each individual and unit will continue to be the driving force for the entire sector to constantly innovate, create, and rise strongly in the coming time," the Governor of the State Bank of Vietnam emphasized.
Leaders of the State Bank of Vietnam present the Special Award to Vietcombank - Photo: VGP
Mr. Pham Tien Dung, Deputy Governor of the State Bank of Vietnam and Head of the competition organizing committee, said that many solutions were evaluated as having high applicability, not only applicable at individual units but also capable of being implemented throughout the entire banking sector.
Notable examples include Vietcombank's dynamic QR code solution and direct connection to C06; VietinBank's Digital LC solution; and Sacombank 's one-time authentication solution shared across the entire ecosystem, saving customers time and money.
"The program is not only an internal playground but also spreads the image of a modern, dynamic, resilient banking industry ready to break through in the digital age," the Deputy Governor emphasized.
Agribank will host the 2027 digital transformation competition for the banking industry - Photo: VGP
In the final results, Vietcombank won the Special Prize; Sacombank won the First Prize; BIDV and TPBank won the Second Prize; and Agribank, HDBank, and CIC won the Third Prize. There were also awards for digital culture, innovation, and digital literacy.
Mr. Minh
Source: https://baochinhphu.vn/nganh-ngan-hang-thi-dua-tang-toc-chuyen-doi-so-102260523140405793.htm
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