Hanoi to host banking sector’s digital transformation day

Hoang Thanh Nhan, editor-in-chief of Thoi bao Ngan hang (Banking Times) newspaper, said the event is designed to review outcomes achieved by the banking industry after two years of implementation of its digital transformation plan until 2025, with a vision towards 2030.

It is expected to promote a national digital transformation programme and boost the awareness of organisations and individuals about its role in relation to the operation of the industry, she added.

Held within the framework of the event will be a thematic conference focusing on the application of population data in banking activities, which can be considered the driving force for digital transformation, as well as an exhibition displaying outstanding services and products in terms of the digital transformation of banks and payment intermediaries.

Pham Anh Tuan, head of the Payment Department under the SBV, said that positive results have been recorded in relation to the digital transformation activities of the banking sector.

According to details given by the Ministry of Information and Communications, in 2021 the SBV ranked first for cyber security readiness and fourth in terms of digital transformation activities. In addition, up to 95% of credit institutions have been carrying out digital transformation strategies at their units.

During the initial three months of this year, non-cash payment transactions soared by 53.51% in quantity compared to the same period from last year, while ATM transactions dropped by 2.37% in volume and 4.02% in value, showing a shift to electronic payment, Tuan added.