Latest News about digital banking
The Vietnamese government will support boosting the application of new payment methods to achieve the digital transformation goals of the banking industry.
The Covid-19 pandemic has severely affected almost all business and economic activities in Vietnam, and valuable and qualified human resource has taken a serious toll with several employees being laid off or having to accept large pay cuts.
Nearly 75% of Vietnamese consumers expect cashless payment to grow further in the next 12 months.
Mobile transactions in Vietnam are forecast to increase by 400 percent by 2025 in the Fintech and Digital Banking 2025 - Asia Pacific Report released by Backbase on May 11.
Allowing the "embedding" of fintech solutions into the ebanking app, banks may join the race to become "all-in-one" apps.
The banking sector is waiting for the State Bank of Viet Nam to allow the use of electronic know your customer/client (e-KYC).
It's clear that digitalization is a prerequisite for local banks to survive and develop in the new era.
Much is being done to take Vietnam's banking and finance sector into the digital age, according to industry insiders.
Digital is fundamentally changing banking in Vietnam and transforming the industry's competitive landscape.
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