New strides in finance-banking in spotlight at Industry 4.0 Summit

New strides in finance and banking in the context of the Fourth Industrial Revolution came under spotlight at a seminar on July 13 within the framework of the Industry 4.0 Summit and Expo 2018 in Hanoi.

new strides in finance-banking in spotlight at industry 4.0 summit hinh 0
Illustrative image (Source: VNA)
In his opening speech, deputy head of the Party Central Committee’s Economic Commission Ngo Van Tuan said the finance-banking sector is at the forefront of opportunities to join the Fourth Industrial Revolution. With a population of nearly 100 million by 2025, and one of the world’s highest smartphone usage rates, Vietnam is considered one of the countries able to thoroughly modernise finance-banking services. 

The event provides a platform to look into the potential, strengths, opportunities, and challenges of the sector during the Industry 4.0, as well as propose measures and mechanisms needed to tap opportunities, he said. 

According to him, many Vietnamese financial and banking organisations have studied and successfully adopted technologies to improve service quality amidst global integration. 

Reports at the event featured Industry 4.0 impacts on finance-banking; policy recommendations; blockchain potential and application in Vietnam; and active defence of cyber space in financial services. 

Topics up for discussion include database management for financial services and its privacy issues; new ecological systems for cashless payment; challenges in digital transformation; changes in online banking services; and artificial intelligence’s impacts on governance and workforce among others. 
VNA

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