On November 3, 2025, the Governor of the State Bank of Vietnam (SBV) issued Decision No. 3579/QĐ-NHNN to approve the “Banking Sector Digital Transformation Strategy to 2030.”
This decision replaces Decision No. 2655/QĐ-NHNN from December 26, 2019 (on IT development strategy for the banking sector to 2025, with orientation to 2030) and Decision No. 810/QĐ-NHNN from May 11, 2021 (on the digital transformation plan of the banking sector to 2025, with orientation to 2030).
One guiding principle of this strategy is:
“People and businesses are at the center, main actors, and driving forces of the digital transformation in the banking sector. The SBV takes a leading role in driving, facilitating, and creating the most favorable conditions for technology development, innovation, and digital transformation across the sector. The ultimate goal is to deliver convenient, smart, user-friendly, easily accessible, multi-channel, and multi-device supported, safe and reliable banking services—contributing to improving the financial lives of people and efficiency for businesses.”
Accordingly, the strategy defines:
By 2030, the Vietnamese banking sector will continue to affirm its pioneering role in the national digital transformation process, in line with the Party and Government’s vision of e-government and building a successful digital central bank. The focus is on placing customers at the heart of the smart digital finance ecosystem, developing comprehensive, safe digital banks on advanced technology platforms; improving management efficiency and competitiveness; fully digitizing and maximizing automation of operations and business processes; effectively leveraging the achievements of Industry 4.0 and innovation; driving rapid, sustainable sectoral growth based on integrated, open, transparent digital data-driven governance and operations; ensuring information security, cybersecurity in conjunction with a high-quality digital workforce.
General objectives set forth in the digital transformation strategy include:
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Completing the institutional framework, regulations, policies, and laws to create an open legal environment that encourages and drives digital transformation.
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Comprehensive innovation in SBV’s management activities towards modernization, improving the effectiveness of monetary policy and financial supervision based on digital technology platforms, robust application of advanced digital technologies—especially AI and big data—to make prompt, accurate policy decisions, building a modern, transparent, efficient digital SBV that meets all digital transformation criteria set by the Government; ensuring all SBV’s public services are eligible to be placed on the National Public Service Portal and are processed entirely online.
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Enabling credit institutions to develop and operate digital banks effectively and transparently, data-driven; deploying flexible and innovative digital banking models to deliver convenient, modern, and safe services for customers, while complying with legal and SBV regulations during the digital transformation.
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Developing digital infrastructure, digital data, and cybersecurity for the banking sector; ensuring IT infrastructure is modern, flexible, secure, capable of seamless connection and interaction with other sectors; ensuring continuous, stable, and safe operations.
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Promoting innovation in finance, robustly applying new technologies (AI, Big Data, Blockchain, Cloud, Open API, RPA) in management and service delivery; developing a comprehensive, safe, smart digital banking ecosystem centered on customers, fostering the emergence and development of new digital business models, financial products, and services; bringing digital banking services to all people and businesses, especially in rural and remote areas, via accessible technological solutions.
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Developing a high-quality digital workforce and digital culture sector-wide; building a cadre of staff and experts with outstanding digital capabilities and fostering an adaptive, continuously innovative organizational culture tied with raising digital awareness and skills for staff, organizations, and the public.
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Enhancing domestic and international cooperation, proactively engaging and leading initiatives and standards on technology, innovation, and digital transformation in finance and banking.
In addition, the strategy sets out several specific goals:
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Striving for 95% of the population aged 15 and above to have a bank or licensed organization transaction account by 2030;
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By 2030, the value of cashless payments will reach 30 times GDP;
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100% of staff in units are to be trained in digital skills.
To implement these goals, the strategy details clear assignments of tasks and solutions to each unit, along with a road map for execution.
by VNBA News
