The event was jointly organized by the Vietnam Banks Association and IEC Group on October 29 under the auspices of the State Bank of Vietnam.
Speaking at the plenary session of the Conference with the theme: "Shaping the digital future for the banking industry: Safe and sustainable operating strategy", Deputy Governor of the State Bank Pham Tien Dzung shared that, following the success of last year, the Smart Banking Conference and Exhibition series this year returned with a theme that the banking industry is very interested in: "Shaping the digital future for the banking industry: Safe and sustainable operating strategy".
Deputy Governor of the State Bank Pham Tien Dzung
It can be said that, in terms of legal space for digital transformation, the banking industry is currently very open and has achieved results that no other industry has achieved. For example, from opening accounts with eKYC from 2021, to only allowing opening accounts with chip-embedded citizen identification cards from October 1, 2024, implementing guarantees as well as lending completely online...
“The legal corridor of the banking industry has been paving the way for the application of technology,” Deputy Governor Pham Tien Dzung affirmed.
In fact, according to Mr. Pham Tien Dzung, many commercial banks have recorded a transaction rate on digital channels of about 97-98%. The growth rate of transactions on digital channels in the banking industry still reaches double digits every year in both quantity and transaction value.
“It can be said that the digitalization rate of the banking industry is very high with strong growth,” the Deputy Governor emphasized.
In addition, the banking industry also plays a role in connecting with other industries and sectors in the economy. The same is true for the digital transformation process. The banking industry has connected and integrated with data from the Ministry of Public Security, the telecommunications industry, etc. "Connection and integration are new and bright spots that the banking industry has achieved," said Mr. Pham Tien Dzung.
However, integration with many units also brings risks related to security and operational disruption.
"With the theme "Safe and sustainable operating strategy", this is an opportunity for us to share experiences, exchange solutions, listen and give opinions on how to connect and integrate safely and sustainably," the Deputy Governor emphasized.
Deputy Governor Pham Tien Dzung suggested that the topics discussed and shared at this year's Smart Banking event will focus on shaping the digital future for the banking industry in Vietnam in a practical, close, realistic and highly applicable way. "Currently, data shows that we have tens of millions of corporate and individual customers. Imagine what would happen if the banking system stopped working for 5 minutes? The impact would certainly be huge. Therefore, after covering a wide range of products and services, we must aim to ensure operational safety and depth for those products and services. This is the time when banks need to pay attention to ensuring the best quality for their products and services," the Deputy Governor raised the issue.
Regarding the implementation of Decision 2345/QD-NHNN, Circular No. 17/2024/TT-NHNN, Mr. Pham Tien Dzung said that after the new regulations took effect, the number of fraud cases against individual customers has decreased significantly. However, the Deputy Governor affirmed that there is no radical and perfect measure. Decision 2345, Circular 17 has tightened the opening of personal accounts for individual customers. However, from here There is a situation of circumventing regulations by opening business accounts, circumventing biometric authentication to serve fraudulent purposes.
The Deputy Governor said that in the coming time, the banking industry will pay more attention to the opening of business accounts, to ensure the authentication of the legal representative of the business. When conducting business transactions, if the transaction is large, a signature is required to identify the person responsible, ensuring that when a problem occurs, we can trace the signer.
At the same time, Deputy Governor Pham Tien Dzung also suggested coordination with other ministries and branches, because businesses are licensed by competent authorities. If the situation of not being able to identify the business owner is left, not only for the banking industry but also for fraud will continue to occur in all fields.
The Deputy Governor also expressed hope that at this event, technology companies will also present practical solutions to help the banking industry move towards safe and sustainable operations.
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