Moving beyond trends: AI as a practical solution
During the session, Mr. Lee Soo-wan, CEO of PFCT, presented an AI-based fintech ecosystem that has been successfully deployed in rigorous markets including South Korea, Australia, and Indonesia. The core competitive advantage of PFCT lies in its multi-dimensional data analysis model, which enables the assessment of individual risk probabilities with high precision, moving beyond traditional group-based classification.
Dr. Nguyen Quoc Hung, Vice President cum General Secretary of VNBA
A key highlight for industry experts was the ability to reduce the development time for credit scoring models to less than one month. By leveraging AI for automated data processing and model optimization, banks can rapidly adapt to market fluctuations while ensuring absolute data security through on-site deployment solutions
Addressing local data specifics
Dr. Nguyen Quoc Hung, Vice President cum General Secretary of VNBA, acknowledged the vast potential of AI solutions, particularly in the consumer finance sector where speed and accuracy are paramount. However, he emphasized that "the effectiveness of these models must be validated by empirical data in Vietnam, specifically regarding their ability to reduce NPL ratios and improve credit approval rates".
Mr. Lee Soo-wan, CEO of PFCT
Dr. Hung further noted that the quality and structure of input data in Vietnam possess unique characteristics compared to international markets. Consequently, "localizing" AI models from South Korea or Australia is a prerequisite for ensuring feasibility and performance in the local context.
Implementation roadmap: from consumer finance to commercial banking
To effectively integrate these solutions, VNBA leadership suggested that PFCT first target consumer finance companies—a group with an urgent need for optimized credit scoring. In tandem, PFCT proposed the launch of the "AI Credit Academy," a specialized training program designed to enhance the AI capabilities of human resources within the Vietnamese banking sector.
In its role as a facilitator, VNBA committed to supporting pilot programs and thematic workshops to promote advanced technologies. These efforts aim to deepen the digital transformation process of Vietnam’s banking industry, ensuring it remains robust and sustainable in the digital age.
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