Vietnam is developing digital banking, but vulnerabilities in cybersecurity remain a barrier to growth.
E-banking, the latest trend in the Vietnamese banking system, has not completely been able to replace conventional banking customs although the majority of baby boomers (those born in 1945-1960) and generation X (1961-1980) show insignificant interest in modern banking services.
Digitalisation in retail banking is becoming a vital trend for Vietnam’s banking sector, not only to meet bank customers’ – especially young customers’ – needs, but also to help the nation achieve its goal of creating a cashless economy.
A number of banks have recently raised their service charges, particularly for online transactions.
The Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) has agreed to provide a number of financial services for corporate customers operating in Vietnam of several Japanese banks.
(VOV) - Aware of the growing demand for e-banking services, many banks have spared no efforts to develop their own systems in an attempt to attract more customers.