On June 28, 2022, the State Bank of Vietnam (SBV) issued Decision No. 1097/QD-NHNN approving the Digital Transformation Plan of the banking sector for 2022.
SBV Headquarters
Accordingly, the objectives of the Plan are to develop a digital government, a digital economy and a digital society.
The Plan comprises of the following specific tasks and solutions:
First, about the institutional improvement: Formulating and submitting to the Government for issuance of a new Decree on a regulatory sandbox for Fintech in the banking sector; reviewing and updating the SBV’s e-government platform version 2.0, etc.
Second, about the development of a digital government: promoting the extensive use of online public services, focusing on reviewing, advising, and submitting to the competent authorities for promulgation of relevant policies aiming to reduce the time, fees, and charges for online administrative procedures, etc.
Third, about digital payments: coordinating with the relevant Ministries, agencies and local authorities to promote the use of digital payments and non-cash payments.
Fourth, about the development and use of digital platforms: formulating and issuing a plan of the banking industry to promote the use of the national digital platforms for digital transformation, digital government development, digital economy, and digital society in accordance with Decision No. 186/QD-BTTTT dated February 11, 2022 issued by the Minister of Information and Communications, etc.
Fifth, about the development of digital data: reviewing and publicizing the list of open data and shared data in the form of default data sharing; connecting and sharing data among the SBV and other state management units through the National Data Exchange Platform; continuing to improve the SBV data analytics and processing platform, etc.
Sixth, about cyber information safety and cyber security: fully deploying the four solutions for cyber information safety; organizing the classification, identification, and approval of the proposed information system security levels, and the options to ensure information system security; coordinating with the Ministry of Public Security, the Government’s Office and the Ministry of Information and Communications to prepare the necessary infrastructure and conditions for cyber information safety and cyber security to connect the national databases and information systems for the administrative procedures with the National Population Database, etc.
Seventh, about digital human resources, digital skills, digital citizens, and digital culture: developing and organizing the implementation of annual training and re-training plans on digital transformation, digital economy and digital society for state officials, civil servants and public employees within the banking sector.
Eighth, about digital businesses: developing and promulgating a program on a digital transformation index for businesses, and a support program for the digitization among the businesses in the banking industry, for the implementation of Decision No. 1970/QD-BTTTT dated December 13, 2021 issued by the Minister of Information and Communications.
Regarding the organizational structure: effectively organizing the activities of the Steering Committee and the Taskforce for digital transformation in the banking sector;
Regarding research cooperation: promoting the cooperation between the SBV and the businesses engaged in the development of digital platforms in researching, developing and utilizing outstanding, high quality digital platforms; prioritizing the use of standardized softwares for the development of e-government services among the Ministries and agencies; facilitating and supporting the businesses in introducing and providing digital products and services to the banking sector.
The solutions for the information, education and communication (IEC) and awareness raising: organizing forums, conferences, seminars, events, exhibitions about the digital transformation in the banking sector; disseminating and sharing experience in the digitization models and contents; focusing on developing analytics and exploitation skills to assist the decision and policy making processes, etc.
The solutions for monitoring, evaluation and supervision: conducting monitoring and evaluation, publicizing the ratings with regard to the development levels of e-government, digital transformation among the entities under the SBV’s jurisdiction.
The entities under the SBV are responsible for proactively implementing this Plan based on their mandates, functions and assigned tasks. This Decision took effect from the date of its signing.
Le Hang