At the high-level seminar on “Enhancing Risk Management and Cyber Resilience in the AI and Cloud Era” held by VNBA and IEC và AWS in Hanoi on April 21, 2026, experts emphasized that the cybersecurity landscape is becoming more volatile and challenging for the financial sector.
Dr. Nguyen Quoc Hung, Vice Chairman and Secretary General of the Vietnam Banks Association
The rise of sophisticated cyberattacks, data-related risks, and technology-driven fraud requires banks to adopt a more proactive and comprehensive approach to risk management.
Risk management as a “soft shield”
According to Dr. Nguyen Quoc Hung, Vice Chairman and Secretary General of the Vietnam Banks Association, risk management capacity serves as a “soft shield” that plays a decisive role in ensuring the stability and sustainability of the banking system.
This implies a fundamental shift from reactive to proactive risk management, including:
- Early risk identification and forecasting
- Preventive control mechanisms
- Integration of risk management across all operational processes
In particular, with the increasing use of AI, establishing robust AI lifecycle governance is critical to ensure transparency, explainability, and bias control in algorithmic decision-making.
Cybersecurity as the “gatekeeper” of banking systems
Cybersecurity has been widely recognized as the “gatekeeper” of the banking sector, safeguarding systems against increasingly sophisticated threats.
In the digital era, data has become a core asset for banks, but also a primary target for cyberattacks. Large-scale data breaches and financial fraud incidents are on the rise, posing significant financial and reputational risks.
Therefore, building multi-layered cybersecurity architectures—integrating infrastructure, processes, and human factors—is essential.
The importance of collaboration and information sharing
A key takeaway from the seminar is the importance of strengthening industry-wide collaboration.
Key priorities include:
- Establishing mechanisms for sharing risk intelligence
- Developing early warning systems at the industry level
According to Dr. Hung, building a collective “defense ecosystem” will significantly enhance the resilience of the entire banking system against cyber and technological shocks.
Policy implications and strategic directions
Several strategic directions emerge from the discussions:
- Transforming risk management models toward proactive, data-driven approaches
- Standardizing AI and cloud governance to ensure compliance and transparency
- Investing in cybersecurity infrastructure with continuous upgrades
- Developing high-quality human resources at the intersection of finance, technology, and security
- Enhancing international cooperation to align with global best practices
In the AI and Cloud era, risk management and cybersecurity are no longer supporting functions but strategic pillars of the banking system.
Strengthening risk management capacity as a “soft shield,” alongside robust cybersecurity frameworks, will be crucial for ensuring the sustainable development and resilience of Vietnam’s banking sector in an increasingly complex digital environment.
VNBA News
