Technology leverages to expand the digital banking ecosystem

At the Banking Digital Transformation Event 2024, with the theme "Expanding connections and developing the digital ecosystem", FPT IS and FPT Smart Cloud (2 member companies of FPT) demonstrated a comprehensive technology solution ecosystem, aiming at the key goal of "Expanding connections and developing the digital ecosystem" of the banking industry. Banking Digital Transformation Day is the biggest event of the year for the banking industry, chaired by the State Bank of Vietnam, co-organized by Banking Times, the Payment Department and related units. Attending the event were Prime Minister Pham Minh Chinh; leaders of a number of ministries and branches... On the banking side, there were the participation of SBV Governor Nguyen Thi Hong, SBV Deputy Governor Pham Tien Dung and leaders of leading banks and credit institutions. With the theme "Expanding connectivity and developing the digital ecosystem", the event focused on exploring modern technology products and services related to the development of the digital ecosystem, open banking, connecting banks and businesses through smart financial services, biometric authentication to meet the implementation of Decision No. 2345/QD-NHNN on deploying safe and secure solutions in online payments and bank card payments as well as Project 06. At the event, the Prime Minister said: "The current focus is to promote the development of the digital economy, in which the banking industry, as the lifeblood of the economy, has a daily impact on most sectors of the economy, all aspects of activities of people and businesses". The Prime Minister clearly stated 3 goals for the coming time of digital transformation of the banking industry: Creating the most favorable conditions for people, businesses, administrative units - career to have the most convenient and best access to banking services; contributing to reducing costs in terms of time, materials, compliance costs for people, businesses, administrative units and the banking system itself; contributing effectively and efficiently to risk control, preventing and repelling corruption, negativity, troubles and harassment. Understanding the vision of the Government and the key problems of the industry, introducing and presenting to Prime Minister Pham Minh Chinh, leaders of ministries and branches, Mr. Tran Dang Hoa - Chairman of FPT IS shared at the exhibition: "In the context of the digital economy, with the important task set by the banking industry: Expanding connectivity and developing the digital ecosystem, organizations and banks will have some big problems".

Prime Minister Pham Minh Chinh visits the booth of Made by FPT solutions.

Firstly, on the issue of fraud prevention and implementation of Decision No. 2345/QD-NHNN. Currently, 76% of current fraud rates are aimed at financial fraud. With 11 billion non-cash transactions and will continue to grow, ensuring that transactions are authenticated safely, quickly and effectively is a priority. Secondly, on ensuring that the speed of the digital economy is constantly promoted. With the potential of the digital economy expected to account for 25% of GDP by 2030 and a total import-export turnover of 683 billion USD, recording a trade surplus for 8 consecutive years, it is necessary to have platforms for banks and organizations to speed up trade, minimize costs, time, procedures and hassles for businesses and banks, Mr. Hoa affirmed. Specifically, in the session "Solutions for Checking, Verifying, and Authenticating Customer Biometric Information, Implementing Decision 2345/QD-NHNN", Mr. Vu Anh Duc - Deputy Director of Platform and Digital Identification Center, FPT IS analyzed: "Currently, there are many biometric authentication methods in the world such as: Voice authentication, fingerprint authentication, iris authentication, hand vein authentication. However, with the application of Decision 2345 on July 1, which biometric factor will be chosen? Which solution is suitable for that problem?".

FPT IS experts propose an identity authentication solution with 100% accuracy.

FPT IS experts recommend that banks and credit institutions choose facial biometric data to apply in the identification authentication method. The application of facial biometrics will solve core problems: Firstly, it allows data exploitation in the CCCD Chip according to Project 06, not only cleaning and updating existing customer data but also effectively preventing counterfeiting almost absolutely. Secondly, it ensures a convenient implementation process and faster processing speed. Thirdly, the cost of investing in cheap equipment with devices that only need a simple camera. Finally, it helps to easily and flexibly integrate on platforms serving different operations of the Bank. Accordingly, FPT IS is working with the Ministry of Public Security to strongly promote Project 06 in the Banking and Finance industry with millions of transactions that have been directly authenticated with data from the Ministry of Public Security. FPT.IDCheck is a powerful tool to support organizations and businesses in digitizing the user's identity authentication experience in financial services: opening new bank accounts, registering for consumer loans, transferring money, withdrawing money, etc. Up to now, the solution has been trusted and used by more than 20 leading banks and financial institutions in Vietnam, typically: Sacombank, ACB, VIB, TPBank, WooriBank, JACCS, VietCredit... With the goal of expanding the banking ecosystem and promoting trade, FPT IS developed the TradeFlat Digital Financial Ecosystem to provide a unified end-to-end trading platform, completely solving the problem of trade financing. TradeFlat has now cooperated with national platforms in Japan and New Zealand - committed to reducing the total time from 7-10 days to 1-0.5 days. TradeFlat can connect with 15 regional platforms, expected to create a breakthrough in domestic and international L/C processes, supply chain financing and domestic electronic guarantees, opening up opportunities to comprehensively connect Vietnam's digital economy in the global value chain. In addition, to solve the overall problem in digital transformation of the banking industry, the unit has researched and developed a sustainable digital transformation framework based on 6 key issues: (1) Building a standard core system (FPT. Finex); (2) Modernizing information technology infrastructure and (3) Managing banking data on the FPT Cloud cloud computing platform; (4) Optimizing customer experience with FPT.AI, Utop; Lendvero solutions; (5) Ensuring absolute information security with FPT.EagleEye solution set; (6) Optimize operational management through the akaBot Business Process Automation solution, Paperless Office Solution Suite (FPT.eContract, FPT.eSign, FPT.eInvoice,...); FPT HR DX Comprehensive Human Resource Digital Transformation Solution Suite (FPT.eLearning, FPT.iHRP, PeopleX Hiring,...); In particular, many Made by FPT solutions apply new technology to help maximize operational efficiency in the Banking industry. Typically, the akaBot virtual robot automation (RPA) solution plays an important role in improving operational efficiency, helping banks' return on investment (ROI) reach 300% in just 3 years, while helping banks gradually complete the goal of optimizing CIR in the long term. FPT.AI solution helps banks comprehensively automate customer care channels, improve operational capacity with the power of Generative AI. In addition, FPT provides high-performance GPU cloud services for artificial intelligence development - AI/ML Stack on the FPT Cloud platform. Leveraging the superior computing power of NVIDIA's world-class H100 GPU, the solution helps financial institutions accelerate AI application speed, thereby achieving breakthroughs in improving productivity and customer experience. In the future, based on 30 years of experience in digital transformation with the Vietnamese Banking and Finance industry, combined with the available advantages based on the Made by FPT ecosystem, a team of internationally qualified experts, FPT wishes to accompany the Vietnamese Banking and Finance industry in particular to leverage the power of technology, create sustainable development power, and continuously expand opportunities to connect with the global digital economy. Source: https://nhipsongkinhte.toquoc.vn/cong-nghe-tao-don-bay-mo-rong-he-sinh-thai-so-ngan-hang-20240510105204937.htm