Speaking at the opening of the workshop, Dr. Nguyen Quoc Hung - Vice Chairman and General Secretary of the Vietnam Banks Association (VNBA) emphasized that the workshop is an opportunity to share experiences and seek solutions to challenges in the banking industry. He pointed out that the rapid development of digital technology is reshaping the way financial institutions operate.
Dr. Nguyen Quoc Hung - Vice Chairman cum Secretary General of VNBA
The banking industry has witnessed a strong transformation, with the application of new technologies such as artificial intelligence (AI) and blockchain, creating many new opportunities in serving customers. Cashless payment activities and digital banking transformation have achieved positive results, with significant growth in electronic transactions and Mobile-Money accounts, especially in rural and remote areas. In this context, cooperation between banks and fintech companies is essential to create optimal financial solutions for customers. Mr. Hung called on banks to build a cooperative environment where parties can share experiences and learn from each other.
In his welcome speech, Mr. Pham Anh Tuan, Director of the Payment Department, State Bank of Vietnam, sent his best wishes to the delegates and emphasized the importance of digital transformation in the context of the 4th Industrial Revolution currently having a strong impact on every country and every field. He said that the banking industry has achieved many remarkable achievements, with more than 182 million personal payment accounts opened and more than 87% of adults having a bank account by the end of 2023.
Mr. Tuan also pointed out that many banks have processed over 95% of transactions via digital channels and the growth rate of non-cash payment transactions in Vietnam reached an average of 69% in quantity and 17% in value in the period 2021-2023. However, besides the successes, the banking industry also faces many challenges such as information security requirements and the increase in high-tech crimes.
The conference also included a series of panel discussions where leading industry speakers shared their views and opinions on digital technology integration solutions. Participating banks presented success stories in innovation and operational efficiency, thereby creating new opportunities in the digital age.
Workshop panorama
In addition to the panel discussions, the event also organized cultural exchange activities, creating opportunities for delegates to connect and share experiences in a friendly and professional environment.
Notably, within the framework of the conference, the Backbase awards ceremony took place, honoring banks and financial institutions with outstanding achievements in applying digital technology and innovation.
- Fastest Platform and App Go-Live Excellence Award: OCB - (Vietnam)
- Best Intuitive UI/UX Experience at Scale Award: HDFC Bank (India)
- Best of Enterprise Suite Excellence Award: Eastwest Bank (Philipin)
- Enterprise Planning and Execution Excellence of the Year Award: China Bank PH (Philipin)
- Excellence in Customer Experience Optimization Award: ABBANK (Vietnam)
- Best Anchor Platform Innovation of the Year Award: BDO Unibank (Philipin)
- Progressive Modernization at Scale Award of the Year: Bank of the Philippine Islands (BPI)
- Excellence in Humanized Banking Innovation Award: Techcombank (Vietnam)
- Outstanding Execution Partner of the Year Award: SmartOSC (Vietnam)
- Visionary Leader and Changemaker Award of the Year: Pranav Seth (TCB Vietnam)
These awards recognize the remarkable journey of banks adapting to meet their customers' needs, setting new standards for innovation, and driving change in modern banking. Each winner exemplifies the spirit of transformation, creating deeper connections with today’s customers, encouraging the application of advanced technologies for sustainable development in the banking industry.
The ENGAGE Asia 2024 conference concluded with a lot of useful information and new perspectives on the future of the banking industry, promising to contribute to shaping the sustainable development strategy of the banking industry in the digital age.
