Banking industry accelerates towards smart digital ecosystem

Banking industry accelerates towards smart digital ecosystem

The Director of the SBV’s Payment Department, Phạm Anh Tuấn, said that, after four years of implementation, the digital transformation of the banking sector has achieved encouraging results

A view of the press conference. VNS Photo

The State Bank of Vietnam (SBV) yesterday held a press conference to announce the 2025 Banking Sector Digital Transformation with the theme ‘Smart Digital Ecosystem in the New Era’.

At the event, Director of the SBV’s Payment Department Phạm Anh Tuấn said that, after four years of implementation, the digital transformation of the banking sector has achieved encouraging results, contributing to the overall development of the economy.

“Essential banking services such as savings, opening and using payment accounts, bank cards and e-wallets, money transfers and loans have been completely digitised. The rate of transactions via digital channels at many credit institutions has so far exceeded 90 per cent. More than 87 per cent of adults now have a bank account. Cashless payments continue to grow strongly in both volume and value, with more than 5.2 billion transactions made in the first quarter of 2025 alone,” Tuấn said.

According to the director, the SBV has identified digital transformation as not only a trend but also a strategic task. Technology infrastructure is focused on investment, legal regulations are constantly updated and amended to facilitate innovation in banking activities. Cyber ​​​​security and safety work is also enhanced, in parallel with promoting communication and financial education to the people.

“In particular, the SBV is actively coordinating with the Ministry of Public Security in implementing Project 06 on applying population data in national digital transformation. This is considered an important foundation to help banks integrate inter-sectoral data, improve service efficiency and make data-based decisions,” Tuấn said.

The Editor-in-Chief of Banking Times, Lê Thị Thúy Sen, said that the banking industry has always played a pioneering role in the digitalisation process, not only applying technology to improve customer experience but also contributing to promoting the development of the digital economy.

This year's theme reflects the banking industry’s goal of building a connected and secure digital ecosystem that focuses on people and businesses as the centre of service to promote the application of innovative products and services, towards the goal of comprehensive digital transformation to break through the development of the digital economy.

The 2025 Banking Sector Digital Transformation event will be held at the Goverment Office on May 29 with the participation of Government leaders, representatives of ministries, Hà Nội People's Committee, credit institutions, professional associations, international organisations and experts in the field of digital transformation.  

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