Digital transformation - Key growth driver for Vietnam’s finance sector
Digital transformation is no longer just a trend but a critical engine for growth in Vietnam’s financial sector, which plays a central role in the country’s digital economy, said Josh Warland, First Secretary for Digital Economy and Technology at the British Consulate General in Ho Chi Minh City.
Speaking at the conference themed “Accelerating Vietnam's Digital Finance Transformation: Practical Strategies on Data, Ethics, Smart Alliances and Human Capital,” held on July 23 in Ho Chi Minh City by the Association of Chartered Certified Accountants (ACCA), Warland emphasised when technology has been making fundamental changes to businesses, building a transparent, efficient, and sustainable digital finance ecosystem is essential.
He emphasised the need for a well-planned digital strategy supported by strong collaboration between the public and private sectors.
Pulkit Abrol, Managing Director of Asia Pacific ACCA, introduced the concept of “Smart Alliances” — the integration of human expertise with advanced technologies such as AI, big data, cloud computing, and robotic process automation (RPA). Rather than replacing professionals, these tools empower financial experts to shift from operational roles to more strategic functions, including advisory services, risk management, and informed decision-making.
Technology is merely a tool, but it is humans, with ethics and analytical ability, who the driving factor, Abrol noted.
The conference also featured insights from major banks and financial institutions in Vietnam currently undergoing digital transformation. Their representatives underscored that beyond technological investment, organisational culture, workforce skills, and leadership mindset are equally vital to the success of digital initiatives.
While digitalisation has delivered tangible benefits such as cost reduction, enhanced operational efficiency, and improved decision-making, experts cautioned that it must be accompanied by strong governance, data security, and ethical compliance frameworks.
This event is part of a broader series by ACCA in Vietnam, focusing on three foundational pillars: data, ethics, and human capital, seen as essential to building a digital finance ecosystem that is transparent, effective, and sustainable.
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