On October 17, 2023, in Ho Chi Minh City (HCMC), a Conference on “Promoting public services and non-cash payments in HCMC” was co-organized by the Banking Times, the Department of Information and Communications of HCMC, and HCMC Computer Association. The Conference was a part of a series of activities within the Digital Transformation Week in Ho Chi Minh City with the theme of "Leveraging Digital Data, Success in Digital Transformation" as celebrations of the National Digital Transformation Day of October 10.
SBV Deputy Governor Pham Tien Dzung speaks at the Conference
Speaking at the Conference, Deputy Governor Pham Tien Dzung of the State Bank of Vietnam (SBV) said that data and the analysis, exploitation and connection of data are the decisive factors for the success of cashless payment promotion and digital transformation in the banking industry. In the digital age, data can be used to analyze and understand about customers’ behaviors and the consumption trends, thereby helping banks to make appropriate decisions for the development and provision of products and services to meet the market demands, and to improve the operational efficiency. Understanding clearly the important role of data in the banking operations, as well as the goals and orientations of the Scheme on developing the applications of the population database, the personal authentication and eKYC in support of the national digital transformation for the 2021-2025 period, vision to 2030 (Scheme 06), the SBV, the banks and the payment intermediary service providers have been actively implementing the application, connection, sharing and exploitation of the national population database in all of the banking operations, especially in payment and credit activities, to promote the development of non-cash payments and digital transformation in the economy.
Implementing the National Program on Digital Transformation by 2025, vision to 2030 and Scheme 06, the Prime Minister has decided to select 2023 as the National Year of Digital Data with the goal of generating and exploiting digital data to create new values.
Sharing about the difficulties in the digital transformation and non-cash payment promotion, the Deputy Governor said that the banking industry has been facing a number of challenges, including the challenge of synchronization and standardization of the technical infrastructure to facilitate the interconnection and the integration between the banking industry and other industries and sectors, especially the public sectors (such as healthcare, education, etc.) to form a digital ecosystem, providing multi-utility services to customers.
According to Deputy Governor Pham Tien Dzung, in the coming time, the SBV would continue to proactively coordinate with the Ministries, agencies, and the Provincial/Municipal People's Committees to effectively implement the tasks and solutions as stated in the Scheme on Cashless Payment Promotion in Vietnam for the 2021-2025 Period, the Plan for Digital Transformation, and Scheme 06 of the banking industry, focusing on: improving the legal frameworks for the digital transformation promotion, including policies on the connection and the exploitation of digital data; ensuring that the systems of banking applications can operate safely and effectively, and can connect and integrate with other systems, especially the ones of the public sectors; expanding the digital ecosystem in support of online payments, etc.
Le Hang