Business News-AI: Leverage to Help the Finance Industry

Artificial Intelligence (AI) is becoming an important tool to help financial and banking institutions in Vietnam optimize operational efficiency, improve service quality and ensure customer safety in the digital age.

Simplify the customer experience

Faced with the strict requirements of Circular 50 of the State Bank on safety and security in the digital finance sector, many banks have quickly applied advanced AI solutions. AI not only helps manage transactions and detect fraud but also protects user data thanks to modern encryption algorithms, thereby effectively dealing with the increasing challenges of cybersecurity.

For example, the Intelligent Document Processing (IDP) solution developed by GreenNode has helped banks process more than 200 types of documents effectively, reducing data entry errors by 70% and shortening staff working time by ⅓. As a result, more than 2,000 working days and tens of billions of VND are saved each year. Currently, GreenNode is also focusing on developing integrated AI solutions to process unstructured data, which accounts for 80% of the total data in banks.

Meanwhile, TrueID with its comprehensive Digital Identity Platform solution has supported more than 35 banks to synchronize customer data, meeting increasingly strict legal regulations on electronic identification. This solution integrates eKYC, video KYC, biometric authentication and NFC, achieving a 90% identification rate and 82% automatic approval, allowing banks to open accounts quickly and securely. This system also plays an important role in the digital ecosystem by supporting service expansion and multi-channel authentication, both online and offline.

Mr. Vu Thanh Tung, GreenNode Product Director, commented: “AI is not just a technology story but also about bringing real value to customers, from improving experience, preventing fraud to optimizing operations. With a solid technical foundation and understanding of the Vietnamese market, we believe we can create breakthrough solutions, meeting urgent needs such as smart document processing or electronic identification in the finance and banking industry.”

Effectiveness from small steps

At the workshop "Developing competitive advantages for financial enterprises with smart infrastructure and AI applications" co-organized by GreenNode, NVIDIA and VAST Data on April 3, 2025 in Ho Chi Minh City, experts shared many ways to deploy AI into different business processes. Instead of deploying AI on a large scale, requiring large investments and high risks, many banks choose a more cautious approach by focusing on simple but essential processes.

Mr. N Nghiem Si Thang, Director of Financial - Banking Solutions, Galaxy Technology Services said that the unit is currently actively applying AI in personalizing customer experience. “ Based on the banking platform, we focus on customers. We start from the payment system, using AI to process transaction records, evaluate credit, grant credit, and increase payment efficiency. In addition, AI also plays an important role in enhancing security for businesses, and we use AI to store data, optimize decision-making and improve operational efficiency.”

Zalopay e-wallet is also one of the units that is applying AI quite strongly. According to CFO Andy Tran, Zalopay has deployed AI in three main areas: Credit scoring, optimizing the lending process and improving user experience. “ Currently, more than 7 million Zalopay users have benefited from the automated credit scoring system, helping to increase access to financial services. In addition, Zalopay also applies GenAI to marketing campaigns to increase customer engagement and attraction.”

“We also focus on optimizing customer experience. Currently, Zalopay not only applies chatbots, but also develops voice agents - voice assistants that recognize and communicate by region, bringing a closer experience. Users prefer talking rather than just texting. Voice agents help us significantly improve our ability to interact with customers,” Mr. Andy Tran emphasized.

According to a report by the State Bank Association of Vietnam, about 85% of banks in Vietnam have deployed AI solutions at different levels. The global AI market in the financial sector is forecast to reach $26.67 billion by 2026, with a compound annual growth rate (CAGR) of about 23.17% during the period 2021-2026, according to Mordor Intelligence.

Meanwhile, a global PwC report also shows that AI helps increase work efficiency by nearly 40%, cut costs and improve customer experience in the finance and banking industry.

Source: https://www.vng.com.vn/news/enterprise/ai-don-bay-giup-nganh-tai-chinh-ngan-hang-phat-trien-ben-vung.html