Banking Vietnam 2017 featuring the theme of “Digital Technology – The Great Engine of Accelerating Financial Inclusion in Vietnam” was officially opened in Ho Chi Minh City (HCMC) on May 19, 2017.
The Banking Vietnam 2017 was co-organized by the State Bank of Vietnam (SBV) and the International Data Group (IDG).
It was attended by Mr. Duong Quoc Anh, Deputy Chair of the Vietnam National Assembly’s Economic Committee, SBV Deputy Governor Nguye Kim Anh; Mr. Pham Dai Duong, Vice Minister of Ministry of Science and Technology; former Deputy Governor Phung Khac Ke, former Deputy Governor Nguyen Toan Thang, representatives from other ministries and commercial banks, leading national and regional financial and banking experts, and world-leading technology providers.
Speaking at the opening of Banking Vietnam 2017, SBV Deputy Governor Nguyen Kim Anh emphasized that with the aim of bringing practical values through updating and development of technological application to the banking sector, the past 19 years of ongoing success has earned Banking Vietnam the reputation as a ‘must-attend’ conference for exchanging in-depth discussions and work on solutions about banking governance, contributing to formulate a well – developed and modern banking industry in Vietnam.
Following the successful organization of the past Banking Conference &Expo, Banking Vietnam 2017 which was organized on May 18 -19, 2017, featured the theme of “Digital Technology – The Great Engine of Accelerating Financial Inclusion in Vietnam”.
Financial inclusion is to provide appropriate and convenient financial services to all individuals and organizations, especially low-income and vulnerable individuals, thereby increasing more opportunities to get access to financial services, contributing to creating livelihood opportunities, rotating the flows of investment capital to boost economic growth. In Vietnam, there are about 31% of individuals having bank accounts while this ratio is lower in rural areas (only 27%). There have been many individuals not provided appropriate financial services. Network of branches and transaction offices of commercial banks is only developing in urban areas while they face difficulty in forming network in rural and remote regions. The fact shows that it is very important to enhance opportunities of getting access and orientations to provide financial services (mainly banking services) to all citizens.
It is not easy to achieve that objective; however, experience from many countries reflected that thanks to digital technology, poor countries can obtain breakthrough achievements related to financial inclusion. The development of internet banking, mobile banking, and payment solutions using QR code… can bring modern and effective banking services and products. However, the development of digital banking also poses many challenges. Vietnam’s commercial banks have rapidly foreseen and caught opportunity to develop based on technological basis in the recent years.
In that context, Banking Vietnam 2017 with discussions and information sharing from domestic and international leading experts is expected to contribute to strengthening dynamically the development of the banking sector as well as financial inclusion in Vietnam.
After the opening ceremony, there were a number of discussions about such topics as the overview of financial inclusion in Vietnam and the role of digital technology in accelerating financial inclusion; Financial inclusion: Approaches, international experience and discussions about potential in advancing financial inclusion in Vietnam; Digital 2025: The Future of Digital Banking; Opportunities, challenges and solutions to accelerate financial inclusion in Vietnam in digital age; Exceeding customer expectations in the age of rapid digital transformation and changing market dynamics.
Le Hang