Attending the workshop were: Mr. Nguyen Hong Quan - Member of the Council of Vietnam Banks Association, Deputy General Director and Director of Risk Management Division of Tien Phong Commercial Joint Stock Bank (TPBank); Mr. Nghiem Manh Hung, Director of Technology Research and Innovation Application of MSB Bank; Mr. Vu Thanh Tung - GreenNode Product Director; Mr. Nguyen Quoc Khanh - Technology Director of MSB Bank; Ms. Chu Hong Hanh, Innovation Lab Director, ACB Bank; Mr. Nguyen Le Thanh - Director of GreenNode; Mr. Nguyen Thanh Que, Solution Consultant (NVIDIA); Mr. Nguyen Quang Uy - Director of AI Research, GreenNode; Mr. Tran Cong Quynh Lan - Deputy General Director, CIO and Digitalization Director (CDO) at VietinBank, in charge of IT division; Mr. Nguyen Chien Thang - Director of Technology Department - BIDV Bank.
Speaking at the opening of the workshop, Mr. Nguyen Hong Quan said that technology in general and AI in particular are very important in the "age of growth". If an organization or an individual does not have AI, they will certainly fall behind, especially in the fields of finance and banking. Many fields and industries have been restructured, including banking, to ensure efficiency and performance. Even many commercial banks have restructured their personnel, replacing some jobs with AI to increase workload.
Mr. Quan assessed that at this time, banks have reported revenue and profit, and have applied and promoted AI results in parallel with digital transformation in each bank. At the same time, the "maturity" level of AI in banks may also be enough to approach new trends.
Implementing into practice, Mr. Quan said that currently banks such as TPBank, MB or Techcombank... have real-time fraud detection tools, some use Gen AI to create unreal situations. To thoroughly solve comprehensive digitalization, AI is required. In addition, AI also applies other management activities such as data analysis with AI, AI compliance, pushing banking deployments...
Faced with the opportunities of the AI revolution in the banking and finance sector, Mr. Quan also pointed out challenges and difficulties such as: Challenges in infrastructure, technology, platforms... to store and process big data, Gen AI infrastructure such as Chat GPT; Legal risks when there is no full legal corridor; Customer expectations: Customers expect a lot but AI does not meet enough; Leaking sensitive information of the organization..., so it is necessary to build an internal governance framework, internal regulations to ensure safety; Risks in cyber security...
Mr. Nguyen Hong Quan - Member of the Council of Vietnam Banks Association, Deputy General Director and Director of Risk Management Division, Tien Phong Bank
Mr. Quan added that over the years, the Vietnam Banks Association (VNBA) has played a very important role in policy review, international connection and cooperation, and has been active in promoting and developing AI applications in the finance and banking sector. On that basis, VNBA, in collaboration with GreenNode and NVIDIA, organized the Workshop "Promoting the AI Revolution in Finance and Banking" to discuss the development trend of AI infrastructure in the banking sector in APAC/Vietnam and the practical application of AI solutions in banking operations. Therefore, Mr. Quan hopes that the workshop will bring the best values and success to banks and credit institutions.
Sharing his speech at the workshop, Mr. Nghiem Manh Hung, Director of Technology Research and Innovation Application of MSB Bank, said: Major banks in the world have been deploying AI to help create brand resonance without affecting profits. Of which, over 80% of major banks in the world use AI capabilities to improve the "end-to-end" online and mobile experience with virtual employees as a key user. Statistics show that 50 - 80% of the largest banks in the world are using AI capabilities to improve existing products, enhance call center experience, detect fraud and recruit with chatbots being widely deployed. Research also shows that GenAI has the potential to bring from 200-340 billion USD per year to the banking sector, thereby affirming the great potential of this technology. Mr. Hung said that AI can be segmented into 5 main capabilities, each of which leverages specific technologies for the Bank: Machine learning, language, computer vision, virtual agents, RPA (Robots and text analytics). He emphasized that AI can be applied throughout the entire business and functions of a universal bank; AI plays an important role in improving customer experience, products and services, security and operations; AI can help banks operate faster….
Also at the workshop, Mr. Nguyen Thanh Que, Solution Consultant, NVIDIA shared about the orientation of large language models and applications in BFSI (Banking - Financial Services - Insurance). Gen AI has impacted all financial sectors. Banks use Gen AI to propose suitable solutions, improve customer service operations and risk assessment; Gen AI optimizes finance, refines trading strategies and revolutionizes capital market forecasting; Builds a system to proactively monitor payment networks; Creates synthetic data and alerts for fraud in real time...
Particularly for optimizing the process of minimizing risks in banking operations (OCR & videoKYC), Mr. Nguyen Quang Uy, Director of AI Research, GreenNode pointed out ways to optimize costs with Intelligent Document Processing (IDP), GreenNode's IDP, minimizing risks with video KYC. The combination of these technologies will help banks ensure strict compliance with regulations on personal data protection, especially when handling sensitive data. In this case, the solution for document processing in banks is the intelligent document processing (IDP). IDP helps to read and extract important information from data much faster and more accurately than humans. IDP helps to reduce human errors, support workflow automation and reduce costs.
Banks can use IDP in the following cases: Processing unstructured data because up to 80% of banking data is unstructured data. IDP helps banks leverage that data to collect and research customer insights. IDP helps convert paper forms into digital documents, then extract and generate reports to support decision making to improve efficiency and reduce costs. Enhance customer experience: IDP extracts, evaluates and integrates customer data, allowing banks to process and approve faster…
Also at the workshop, experts, guests, and representatives of credit institutions had active discussions on the following issues: Trends in infrastructure development for AI applications of banks in Vietnam and the APAC region; Practical application of Insurance AI in banking operations...
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