Building a modern and shared specialized banking database
Delivering his opening speech, Deputy Governor Pham Thanh Ha shared that the establishment of a shared, modern, and synchronized database with smooth connectivity, effective integration and sharing is not only an urgent requirement but also a prerequisite for enhancing the analytical, forecasting, management, and operational safety assurance capabilities of the entire credit institutions’ system.
SBV Deputy Governor Pham Thanh Ha
With that orientation, the SBV has issued Decision No. 2655/QD-NHNN assigning the Forecasting and Statistics - Monetary and Financial Stabilization Department to develop a Scheme on a "Shared Specialized Banking Database". The Scheme aims to design and implement an integrated data system, with the capability of managing the entire processes.
According to the Deputy Governor, within the framework of the Scheme, the Project on “Assessment of the current state of the shared specialized banking database” supported by the World Bank (WB) and the Swiss State Secretariat for Economic Affairs (SECO), with consultancy inputs from KPMG, has marked an important initial step with significant implications.
According to the representative of the SBV Forecasting and Statistics - Monetary and Financial Stabilization Department, his Department has been collaborating with the International Cooperation Department to actively seek international funding sources. With the support of the WB and SECO, the proposal for the technical assistance (TA) for the above Project had been approved.
Mr. Nguyen Phi Lan, Director General of the SBV Forecasting and Statistics - Monetary and Financial Stabilization Department
Mr. Nguyen Phi Lan, Director General of the SBV Forecasting and Statistics - Monetary and Financial Stabilization Department, speaks at the Workshop
The TA Project will focus on the key activities, including: Studying international best practices; Surveying and assessing the current situations at the SBV and non-SBV units; Organizing panel discussion sessions to clarify the demands and challenges; and Proposing an appropriate data architecture model in line with the specific characteristics of Vietnam's banking sector.
Coordinating seamlessly with a high sense of responsibility
Delivering his concluding remarks at the Workshop, Deputy Governor Pham Thanh Ha asserted that, in order to ensure the implementation progress, the quality and the realization of the set objectives in the Project, the SBV Forecasting and Statistics - Monetary and Financial Stabilization Department must take responsibility for developing a detailed implementation plan, in close coordination with the consultants and the relevant entities to implement the full range activities in line with the expected timelines, and monitoring closely and reporting promptly on any arising issues to the leadership of the SBV.
The Deputy Governor also requested the SBV entities to coordinate with the Project, proactively provide information and data, and effectively participate in the Project's activities. This is a key task for 2025 that requires prioritization of resources.
Regarding the credit institutions and the foreign bank branches, they need to coordinate in providing objective information, and participate actively in the surveys and the workshops to ensure that the assessment results reflect accurately the reality of the banking sector.
On the side of the relevant Ministries and agencies, it is necessary to have their active involvement in the implementation, and their prompt provision of information and data, as well as their participation in the Project's activities.
Deputy Governor Pham Thanh Ha also proposed that the WB and SECO continue to provide their technical support and coordinate closely with the focal SBV Department to ensure that the recommendations developed by the Project are feasible, in line with the international best practices and the specific context of Vietnam. In addition, the SBV Deputy Governor also proposed that the WB provide further assistance to the SBV in the next phase to realize the goal of a shared banking database, while KPMG was requested to finalize the Project’s implementation plan at the earliest possibility, and to collaborate effectively with the relevant entities in the banking sector to ensure a comprehensive, objective, close to reality assessment.
Source: sbv
