Hanoi, October 22, 2026 – Vietnam Banks’ Association (VNBA), in collaboration with IEC Group, held the Smart Banking 2026 conference under the theme "Shaping the Next Era for the Banking Sector through AI, Digital Trust, and Resilience". Deputy Governor Pham Tien Dzung of the State Bank of Vietnam (SBV) attended the event and delivered a keynote address.
Deputy Governor Pham Tien Dzung delivers his keynote address at the conference
The conference brought together Mr. Dao Minh Tu, Vice Chairman and Secretary General of VNBA; representatives from SBV departments and units, and the Ministry of Public Security; representatives of commercial banks and payment intermediary service providers; and experts in finance, banking, and technology.
Mr. Dao Minh Tu, Vice Chairman and Secretary General of VNBA, delivers the opening remarks
In his opening speech, Mr. Dao Minh Tu noted that the banking sector was entering a new phase of development, driven by comprehensive digital transformation and rapid advances in artificial intelligence (AI).
He affirmed that VNBA would continue to work closely with the SBV, relevant regulatory authorities, and technology companies to address challenges in adopting new technologies, promote information sharing to prevent fraud, and strengthen the capabilities of the banking workforce.
Addressing the conference, Deputy Governor Pham Tien Dzung highlighted three critical priorities for the future of digital banking: ensuring that AI delivers tangible value; safeguarding customer trust through concrete solutions; and making operational resilience—the ability to maintain continuous service delivery— a core capability of every credit institution.
According to the Deputy Governor, Vietnam’s banking system currently processes approximately 100 million payment transactions per day, with a total value of around VND 1.2 quadrillion. Given this enormous transaction volume, with digital channels accounting for more than 95% of transactions at many banks, weaknesses in technology governance, transaction monitoring, or incident response could have significant consequences.
Participants at the conference
On AI adoption, Deputy Governor Pham Tien Dzung emphasized that the key question was not whether banks had adopted the technology, but which problems they were using it to solve and what tangible value it generated. AI delivers meaningful benefits when it improves customer service, enhances operational efficiency, and enables risks to be detected at an earlier stage.
The Deputy Governor cautioned against using AI merely for demonstration purposes. Its deployment must be integrated with data, business processes, human resources, and governance frameworks, while ensuring accountability to both customers and the institution. Banks should carefully assess their AI applications and strictly comply with the SBV’s regulations to ensure the technology delivers practical benefits.
He also underscored the need to strengthen transaction monitoring alongside cybersecurity monitoring. He called on credit institutions to rigorously implement the SBV’s monitoring requirements and directed relevant units to review compliance and consider inspection measures for banks that had not fully met the requirements.
According to the Deputy Governor, safeguarding customer trust is not solely the responsibility of IT or cybersecurity departments. It also requires the active involvement of business units, governance functions, and bank leadership. Unusual activity must be detected promptly, addressed through coordinated action, and reported in a timely manner to minimize potential losses.
“Credit institutions must not become complacent in meeting the safety and security requirements set out by regulatory authorities. The expansion of digital banking services must be accompanied by commensurate investment in system protection and risk management capabilities,” the Deputy Governor emphasized.
From a governance perspective, Deputy Governor Pham Tien Dzung identified three priorities that must be pursued in tandem: security, safety, and business continuity. These should not be treated as the sole responsibility of technical departments, but must instead be embedded in each institution’s business strategy and risk management framework.
He further noted that the success of digital transformation in the coming period would depend on the effective integration of four key elements: robust technology, high-quality data, sound governance, and a competent workforce.
An overview of the conference
Deputy Governor Pham Tien Dzung affirmed that the SBV would continue to work alongside credit institutions to develop digital payments, leverage data, promote the adoption of new technologies, and refine the regulatory framework. At the same time, the SBV would continue to strengthen safety and security, protect data, and enhance the resilience of the banking sector as a whole.
Minh Khang