The year 2024 marks a breakthrough in the development of cashless payments with the imprints of applying biometrics in banking transaction security, bringing many modern conveniences, attracting customers. Thereby actively contributing to the implementation of the assigned tasks in Project 06; promoting cashless payments, ensuring the safety of information technology systems, electronic payments, card payments in the area..., contributing to promoting digital transformation in banking activities...
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| Digital transformation enables customers to perform most banking and payment services through just one phone. |
The legal framework for digital transformation and non-cash payments continues to be improved to ensure information security and safety in banking activities; as well as providing infrastructure for many convenient cross-border services for domestic and foreign service users... Credit institutions in the area have invested in upgrading information technology infrastructure and developing technology-based products and services, combining with other industries and fields to provide seamless products and services to meet the diverse needs of people and businesses.
Up to now, most basic banking services have been performed on digital channels such as: opening payment accounts, consumer loans, savings deposits, balance inquiries, money transfers and other convenient services on banking apps with convenient, fast and economical payment methods regardless of space and time... For people in remote areas who do not have a bank account or smart electronic devices, they can still make cashless payments through the Mobile Money application of the two network operators Viettel and Vinaphone based on mobile phone accounts.
Payment activities for public services, social security payments, and electronic tax payments via banks in Lam Dong province continue to be promoted. Banks focus on checking, verifying, and comparing customer information to match identification documents and biometric information, as this is the foundation for accelerating the digital transformation process and making cashless payments quickly, safely, and effectively.
In Lam Dong province, Vietcombank is one of the leading banks in applying technology to cashless payments; convenient financial services anytime, anywhere; optimizing costs; promoting comprehensive finance; enhancing experience (increasing convenience, security and personalization of services)... According to Mr. Tran Nguyen Hoai Lam - Director of Vietcombank Lam Dong: By the end of 2024, Vietcombank Lam Dong will have more than 116,000 individual customers registering for VCB Digibank digital banking service and more than 4,200 customers using e-banking services at VCB Lam Dong, with total non-cash transaction turnover reaching more than 170 trillion VND, accounting for 84% of the branch's total transaction turnover, an increase of 21% compared to 2023; in which, 24/7 interbank transfers account for 90% of online transactions...
Military Commercial Joint Stock Bank (MB), with a well-invested and modern technology platform, is also a leading bank in applying biometric authentication solutions for customers to perform online banking services on the MBBank App or VNeID App. MB has over 90% of customers successfully authenticated by biometrics out of a total of 330,000 customers in Lam Dong. In addition, the application of information technology helps MB operate more effectively, contributing to increasing profits by 18-25%, reducing operating costs on revenue to below 30%...
Records in Lam Dong province by the end of 2024 show that: The total number of accounts of customers over 15 years old is 1,593,801 accounts, an increase of 35% compared to the end of 2023; the biometric authentication rate on the total number of active accounts in 12 months reached 79.8%; total number of cards in circulation: 1,335,538 cards; total number of ATMs in operation is 279; total amount of non-cash payments through commercial banks is 1,650 trillion VND, an increase of 7% compared to the end of 2023, through the State Bank of Vietnam Provincial Branch reached 53,240 billion VND with 5,485 transactions; Social security payment rate through bank accounts, including: salary payment reached nearly 71% (amount), number of people (68.9%), one-time social insurance benefit payment reached over 98.6% (amount), 95% (number of people), unemployment insurance payment reached 100%...
However, digital transformation and cashless payments also face many challenges as high-tech criminals are increasingly sophisticated and complex, making it difficult for cashless payments and creating psychological barriers for customers when accessing new technologies in banking transactions. Credit institutions may have to deal with the risk of losing customers' money when they are defrauded by high-tech criminals or due to customer errors while there is no coordinated handling process between banks to protect customers' interests and increase bank reputation.
In addition, updating customers' biometric information still has some difficulties, due to: customers are not aware of the importance of updating biometrics; customers' citizen identification cards are lost or expired; customers have many bank accounts, but only prioritize updating biometrics for accounts or transactions; customers who are elderly, not tech-savvy, or live far from the bank's transaction point have difficulty updating; many phone lines are not eligible for biometric updating...
With the motto "5 increases, 5 decreases, 5 breakthrough accelerations" in banking activities, Lam Dong Banking industry has set out key tasks in digital transformation, which are: Developing modern payment services, promoting digital transformation in banking activities; ensuring security and safety of information technology and payment systems; promoting effective implementation of population data applications in the process of providing banking products and services; exploiting and using VNeID in the process of identifying customers opening and using payment accounts...
Source: http://baolamdong.vn/kinh-te/202502/thuc-day-chuyen-doi-so-trong-hoat-dong-ngan-hang-d487832/
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