The first meeting of the Banking Sector Steering Committee on science, technology development, innovation, digital transformation and Project 06

Also attending the meeting were Deputy Governor of the State Bank of Vietnam Pham Tien Dung, leaders of departments and agencies under the State Bank of Vietnam, Directors of State Bank of Vietnam Branches Region 1 and 2, leaders of commercial banks, members of the Steering Committee and Working Group of the Banking sector on science and technology development, innovation, digital transformation and Project 06.

The meeting announced the Decision to establish the Steering Committee and Working Group of the Banking industry on science, technology development, innovation, digital transformation and Project 06.

Governor of the State Bank of Vietnam Nguyen Thi Hong directed at the meeting (Photo: Duc Khanh)

In recent times, the banking industry has made continuous efforts and closely coordinated with relevant ministries and sectors in the digital transformation process and has achieved many results on important pillars: Transforming awareness, perfecting institutions, upgrading infrastructure, applying data mining and developing digital banking models; along with ensuring security and safety...

Thoroughly grasping the content and spirit of Resolution No. 57 of the Politburo and Resolution No. 03 of the Government, the State Bank of Vietnam has fully researched and reviewed the viewpoints, goals and tasks assigned to the banking sector to issue the implementation plan of the banking sector in Decision No. 1364/QD-NHNN dated March 5, 2025. The tasks in the plan have been specifically assigned to units under the State Bank of Vietnam, credit institutions (CIs), foreign bank branches and intermediary payment service providers (ISPs) to organize implementation and realize the goal of making science and technology development, innovation and digital transformation the top important breakthrough, the main driving force to develop the banking sector rapidly, sustainably and safely, contributing to the country's breakthrough development and prosperity in the new era.

The key tasks of the banking sector to implement Resolution No. 57 of the Politburo and Resolution No. 03 of the Government include: (i) Raising awareness and renewing thinking; (ii) Perfecting institutions; (iii) Increasing investment and perfecting infrastructure; (iv) Strongly promoting science and technology activities, implementing breakthrough tasks, innovation; (v) Strengthening international cooperation.

Up to now, the SBV and credit institutions have achieved a number of outstanding results in implementing the plan in Decision No. 1364/QD-NHNN such as: (i) The SBV has researched, completed and submitted to the Government a draft Decree on the controlled testing mechanism; issued the SBV's Circular Development Program for 2025 with a total expected number of 21 circulars; issued legal documents to promptly remove bottlenecks in serving the development of science, technology, innovation and digital transformation; has been implementing training and fostering programs for officials, civil servants and public employees, especially in the fields of payment and digital banking according to the approved program to develop high-quality human resources. (ii) Credit institutions have adjusted their decisions in line with the trend of scientific and technological development, while increasing investment and improving infrastructure for development, application of science, technology, innovation and digital transformation to improve service quality, enhance experience while ensuring security, safety and increasing customer satisfaction.

In addition, the banking sector has also achieved positive results in implementing Project 06. The State Bank has closely followed the directives of the Government, the Prime Minister, the Ministry of Public Security, etc., issued many documents to deploy and promote the implementation of the tasks of Project 06 and regularly directed the entire sector on the deployment of solutions to apply population data, chip-embedded ID cards, VNeID accounts, etc. to serve banking operations.

As of April 11, 2025, the entire banking industry had more than 108.1 million individual customer records (CIFs) biometrically verified via chip-embedded CCCDs or the VneID application, of which: 60 credit institutions have deployed the chip-embedded CCCD card application via counter devices; 56 credit institutions and 39 payment intermediary organizations have deployed the chip-embedded CCCD card application via phone applications; 32 credit institutions and 15 payment intermediary organizations are deploying the VneID application, of which 18 units have actually deployed it.

Overview of the Meeting (Photo: Duc Khanh)

Directing at the meeting, SBV Governor Nguyen Thi Hong requested members of the Steering Committee and the Banking Sector's Working Group on science, technology development, innovation, digital transformation and Project 06 to study in depth the assigned tasks and proactively advise the SBV's Board of Directors.

For units under the State Bank: (i) It is necessary to increase the application of technology, promote digital transformation in all activities, and disseminate it to each officer and employee. Each unit must thoroughly raise awareness, promote the spirit of self-study and research, proactively participate in seminars and discussions on innovation and technology; (ii) Proactively review tasks, propose solutions to remove difficulties in the process of applying technology, ensure security and perfect institutions to serve the development of science, technology and digital transformation; (iii) Strengthen international cooperation to update new technology trends, learn from experiences of other countries, participate in forums and networks on digital finance, information security, and test modern technologies; (iv) Continue to review and amend the system of legal documents in the direction of supporting technology development and innovation.

For credit institutions and payment intermediaries: (i) Build and connect data warehouses to promote digital transformation, including completing the verification and authentication of biometric information of payment account holders, e-wallets or legal representatives; (ii) Synchronously deploy solutions to ensure information safety and security, minimizing risks arising in the process of providing digital banking services; (iii) Invest in upgrading technology infrastructure to meet development requirements in the digital age; (iv) Implement credit packages to support businesses investing in infrastructure and digital technology according to regulations; (v) Strengthen cooperation with international financial institutions on digital technology, and coordinate in security and privacy, cyber risk prevention and international fraud.

Source: https://thoibaonganhang.vn/phien-hop-thu-nhat-ban-chi-dao-nganh-ngan-hang-ve-phat-trien-khoa-hoc-cong-nghe-doi-moi-sang-tao-chuyen-doi-so-va-de-an-06-163251.html