On May 29, 2025, under the authorization of the State Bank of Vietnam (SBV), the Banking Times, in collaboration with the SBV Payment Department, organized the ‘Digital Transformation of the Banking Sector in 2025’ event with the theme of “Smart Digital Ecosystem in the New Era”.
SBV Governor Nguyen Thi Hong delivers her opening speech at the event
Delivering her opening speech at the event, SBV Governor Nguyen Thi Hong emphasized the pivotal role of data in the digital transformation, calling it “the heart and the bloodline” that operates the entire process. Accordingly, the banking sector has constantly innovated and upgraded its centralized data infrastructure, connecting with other sectors, gradually building a smart and sustainable digital ecosystem.
The 2025 Digital Transformation Event aims to implement the tasks set out in Resolution No. 57-NQ/TW, and closely follow the national digital transformation theme for 2025. According to the SBV Governor: “the theme (of this year’s event) reflects the banking sector’s determination in realizing the objectives of the Party and the Government in creating breakthroughs in science and technology development, innovation and the national digital transformation, as mentioned in the National Digital Transformation Program by 2025, Vision to 2030, and the Scheme on Promoting Non-Cash Payment for the 2021-2025 period. The ultimate goal is to build an inter-connected digital ecosystem that is linked with other economic sectors, serving as a driving force for promoting the digital economy.”
Looking back at the recent time, Governor Hong asserted that the banking sector has been active and proactive in implementing the Resolutions, Directives, and Action Programs of the Government, and the Prime Minister, and has made a lot of positive achievements in the digital transformation, contributing to the overall development of the economy, as reflected in all aspects from institutions, infrastructure to products and services.
Specifically, the SBV has been constantly improving the legal frameworks to promote the digital transformation in the banking sector. The Infrastructure for the digital transformation in the banking sector has always received a lot of attention and investment for upgrading and developing.
Prime Minister Pham Minh Chinh and leaders of several Ministries and agencies visit the exhibition kiosks at the event.
Several convenient and user-friendly banking products and services have been developed, meeting the diverse demands of customers. Many basic banking operations have been digitized entirely, including: savings deposits, term deposits, opening and using payment accounts, etc.
At most banks, up to 95% of the transactions are now made online. Until now, the percentage of adults with bank accounts in Vietnam has reached over 87%. Vietnam has also been pioneering in the promoting the cross-border retail payment connections via QR codes with Thailand, Cambodia and Laos, aiming to expand the connectivity widely in Asia.
In order to implement Resolution No. 57-NQ/TW and the directions of the Government and the Prime Minister, the SBV has directed the commercial banks to implement a VND 500,000 billion credit program targeting the companies investing in the digital infrastructure and technology for the key and critical national projects in the sectors of transportation, electricity and digital technology.
The SBV Governor also emphasized that the Digital Transformation Event with the theme of “Smart Digital Ecosystem in the New Era” is not only an opportunity to acknowledge the achievements and the positive implementation results of the banking sector in the digital transformation and non-cash payment, but it also reflects the banking sector’s determination in developing a digital ecosystem, together with other sectors, contributing to the realization of the goals of developing a digital economy and a digital society.
HY