Speaking at the Banking Sector Information Technology Conference in Hanoi on July 13, 2026, Governor Pham Duc An of the State Bank of Vietnam (SBV) emphasized: “Digital transformation must be accompanied by security; data use must be protected; AI applications must be supported by appropriate risk management; and innovation must always be balanced with compliance, control, and accountability. We will not sacrifice system security, data security, or customer trust for short-term growth."
Governor Pham Duc An speaks at the Conference
Governor Pham Duc An noted that the theme of the Conference was highly relevant, aligning with the Party's and the Government's directions on science and technology development, innovation, and national digital transformation. It also reflected the banking sector's urgent need to accelerate digital transformation at a time when data has become a strategic asset and artificial intelligence (AI) is creating new opportunities for banking operations.
The Governor stressed that the Conference should focus on issues fundamental to the banking sector's digital future, including digital security, data governance, AI, proactive cyber defense, fraud prevention, and system resilience. He also called for frank discussions to identify difficulties and obstacles, as well as practical solutions, thereby providing the SBV and the banking industry with a stronger basis for strategic direction and effective implementation in the coming period.
Governor Pham Duc An requested that Chairpersons of Boards of Directors and Boards of Members, Chief Executive Officers, Directors of credit institutions, foreign bank branches, payment intermediary service providers, and credit information providers assume full responsibility for ensuring cybersecurity, information security, data protection, and the safe and uninterrupted operation of their institutions' digital systems and services.
Governor Pham Duc An and Deputy Governor Pham Tien Dzung pose for a group photo with leaders of SBV departments, commercial banks, and technology companies
Regarding data, the Governor emphasized that it must be regarded as a strategic asset and the foundation of digital banking. Data governance should ensure that data is accurate, complete, clean, up-to-date, and secure. Data should be subject to appropriate access controls used only for legitimate and clearly defined purposes in compliance with applicable laws, while safeguarding the lawful rights and interests of customers.
Regarding AI, the Governor affirmed that the application of AI in banking operations must follow a human-centered approach and be supported by appropriate governance and oversight mechanisms to protect the lawful rights and interests of customers.
Regarding cybersecurity, the Governor urged institutions to shift from passive defense to a proactive and continuous cybersecurity posture, focusing on early detection, early warning, timely response, and rapid recovery. He stressed that cybersecurity, data protection, and fraud prevention must be integral components of each institution's development strategy, digital transformation strategy, data strategy, and overall risk governance framework.
On the SBV's side, the Governor stated that the central bank would continue to improve mechanisms, policies, and standards to promote digital transformation, data development, AI adoption, and, in particular, strengthen cybersecurity and information security across the banking sector. At the same time, the SBV would enhance inspection, supervision, and early warning activities to ensure the safe and sound development of digital banking.
Presenting a report at the Conference, Mr. Hoang Minh Tien, Deputy Director General of the Information Technology Department, said that within the SBV, 100% of documents and work files (except classified documents as prescribed by law) are processed electronically. In addition, 95 credit institutions have connected to the SBV’s electronic document exchange system. Regarding administrative reform, the SBV currently provides 43 fully online public services, covering 100% of eligible administrative procedures. The satisfaction rate among individuals and businesses has reached 100%.
To date, more than 98% of transactions at many banks are conducted through digital channels. In 2025, the total value of cashless payments reached 28 times Vietnam's GDP. Vietnam has also established cross-border QR code payment connectivity with Laos, Thailand, Cambodia, the Republic of Korea, China, and Singapore, facilitating cross-border payments and supporting regional financial integration.
Overview of the Conference
As of June 2026, the banking sector had successfully completed biometric verification for nearly 163 million individual customer records and more than 2.6 million corporate customer records. In addition, 100% of customers conducting digital transactions had completed biometric verification, while all banking institutions had implemented biometric authentication for individual customers.
Notably, the System for Supporting, Monitoring, and Preventing Fraud Risks in Payment Operations (SIMO) has collected information from 147 participating institutions, including 15 pilot institutions using the system in their day-to-day operations. To date, the system has issued more than 4.6 million customer alerts. Following these alerts, more than 1.5 million customers temporarily suspended or cancelled potentially risky transactions, preventing fraudulent transactions worth more than VND 5.2 trillion. These achievements have significantly strengthened the banking sector’s efforts to combat fraud and financial scams, protect customers' assets, and reinforce public confidence in digital banking services.