A decade ago, making money transfers and payments via mobile phones was still unfamiliar to many people in urban areas. Now, even in rural and remote regions, people can transfer money through internet-connected handheld devices. This shows that the banking industry has been painting an incredibly impressive picture of digital transformation with outstanding achievements, adding to the festive atmosphere of welcoming the new year.
The banking sector is stepping up the application of digital technology in its operations.
Implementing the Government's National Digital Transformation Program (DSP) until 2025, with a vision to 2030, and the Banking Sector's Digital Transformation Plan until 2025, with a vision to 2030, as stipulated in Decision No. 810/QD-NHNN dated May 11, 2021, of the State Bank of Vietnam (SBV), the SBV Provincial Branch has actively implemented and achieved encouraging results, contributing to the overall development of the economy .
The most notable achievement in the implementation of digital transformation in the banking sector and the promotion of national digital transformation in 2024 is the impressive figures regarding the deployment of cashless payments. In 2024, total interbank electronic payments in the province reached over 26,400 billion VND, transactions via the internet reached over 310,000 billion VND, and financial transactions via mobile phones reached over 706,000 billion VND. The number of customers using cashless payment services was 2,033,427, and the number of payment accounts was 1,935,268.
To promote digital finance and facilitate transactions and commerce in the electronic environment, thanks to the proactive efforts of the banking sector, approximately 87% of adults have opened payment accounts at banks, and the network accepting QR codes is rapidly expanding. Alongside the development of electronic payment services, banks are focusing on promoting diverse utilities and interconnectedness with other industries and sectors to establish a comprehensive "digital ecosystem" that maximally meets customer needs.
Nowadays, most basic banking operations have been digitized, such as opening payment accounts, applying for bank cards, and opening savings accounts. Opening accounts online through banking applications (Mobile Banking) has become simpler and faster than ever thanks to electronic identity verification (eKYC). Customers can also open credit cards, deposit savings online, or apply for unsecured loans online and receive direct disbursement into their personal payment accounts in just a few minutes, instead of having to go to traditional branches as before.
Nam A Bank's Onebank digital transaction point in Phu Tho offers customers superior experiences in automated digital transactions, meeting the needs of modern 365+ financial transactions.
Beyond basic banking services, many mobile banking applications have expanded to include national public services and essential services such as electricity, water, telecommunications, healthcare, education, goods on e-commerce platforms, ride-hailing services, restaurant reservations, tours, insurance, and securities.
The banking sector has also implemented various solutions such as account cleaning, applying strong authentication measures in transactions (OTP), and implementing mechanisms to monitor unusual transactions to promptly handle suspicious cases. In particular, 2024 marked a milestone for the banking sector in implementing security solutions to ensure the safety of people when transacting in the digital environment with the application of biometrics. The implementation of biometric banking has quickly gained the support of individuals, organizations, and businesses. To date, approximately 480,323 bank accounts have adopted biometric applications.
To implement comprehensive digital transformation, investing in and upgrading the digital infrastructure of the banking sector is a mandatory and urgent requirement. To date, the province has 205 ATMs and 1,035 POS payment terminals. Notably, the Nam A Bank branch has installed the Onebank digital ecosystem, with a network of payment acceptance points (POS/QR Code) covering almost all localities in the province. In addition, banks are also focusing on promoting the digitalization of internal operations such as processes, documents, and online approvals, helping banks optimize labor productivity and reduce operating costs.
Mr. Pham Truong Giang, Director of the State Bank of Vietnam's provincial branch, affirmed: Banking is one of the fastest and strongest sectors undergoing digital transformation today. To maximize the benefits of the digital environment, the industry has continuously strived to achieve results in key pillars, including transforming awareness, upgrading infrastructure, applying and exploiting data, developing digital banking models, ensuring security and safety, promoting credit growth, maintaining its role as the lifeblood of the economy, contributing to inflation control, and stabilizing the macroeconomy.
This has helped the banking sector overcome difficulties and challenges to achieve impressive figures. To date, total mobilized capital in the entire system is estimated at VND 97,500 billion, an increase of 10.05% compared to the end of 2023, reaching 102% of the 2024 plan; outstanding loans are estimated at VND 113,000 billion, an increase of 8.1% compared to the end of 2023. This is truly a driving force for the banking sector to continue its growth momentum, multiplying the joy in the new Spring season.
Phuong Thao
Source: https://baophutho.vn/chuyen-doi-so-de-phat-trien-ben-vung-225394.htm
Comment (0)