On October 29, 2024, in Hanoi, under the leadership of the State Bank of Vietnam (SBV), Vietnam Banks’ Association, in collaboration with IEC Group, organized a Conference/International Expo on Smart Banking 2024. SBV Deputy Governor Pham Tien Dzung attended and chaired the Conference.
Deputy Governor Pham Tien Dzung speaks at the Conference
Smart Banking 2024 was organized with the aim of providing a comprehensive picture of the digital banking strategies and solutions, the technologies shaping the banking industry, and the solutions for developing safe and sustainable banking operations, with one Plenary Session, three thematic sessions and an international expo, and the participation of more than 800 top experts in those areas.
Speaking at the Conference, Deputy Governor Pham Tien Dzung commended highly the urgency and the relevance of the 5th SmartBanking Conference 2024 on the "digital" future of the banking industry, in association with safe and sustainable operations.
According to the SBV Deputy Governor, data and information security are always the top concerns of the banking industry, the credit institutions, as well as all sectors contributing to the development of the economy. The SBV Deputy Governor emphasized that the existing mechanisms and policies have been paving the way, supporting entities to apply technology and to implement the digital transformation, from the application of EKYC to allow remote account opening (in 2021), to the permission of account opening using chip-based ID cards (from October 1, 2024); online lending; electronic guarantees.
The SBV Deputy Governor hoped that the participants in the Conference would actively discuss and share their experience, point out the limitations that need to be resolved, thereby proposing appropriate and practical solutions that can be effectively applied in practice in order to enhance the information security, ensure a safe and sustainable "digital" future for the banking industry. In addition, the SBV Deputy Governor also requested the relevant authorities to actively engage with and support the SBV and the commercial banks to ensure transparent operations, protect the legitimate rights and interests of the customers, and enhance information safety and security solutions.
According to Deputy Governor Pham Tien Dzung, at many commercial banks, up to 97% of the transactions are currently conducted on the digital channels. This shows a high rate of digitalization in the banking operations. The growth rates of digital transactions of the banks are at good, continuous and equal level in both quantity and value, reflecting the customers' trust in the banking industry. With the implementation of Decision 2345/QD-NHNN and Circular 17/2024/TT-NHNN, the number of digital scams has decreased significantly.
An overview of the Conference on Smart Banking 2024
At the Conference, the representatives of several commercial banks also shared their experience in applying AI technology and data analytics in the banking operations, as well as the challenges that the banks are facing. Moreover, the representatives from several credit institutions, technology corporations, domestic and international security solution providers also actively shared and introduced about their products and services that have been successfully applied in the Government agencies and the big companies in and outside the banking industry.
At the Plenary Session, the participants also visited and explored the kiosks of the commercial banks, the leading technology solution providers at the International Expo. In addition, Deputy Governor Pham Tien Dzung and the Expo organizers also gave awards to the winner teams of the Cyber Defense 2024, an exercise to support commercial banks to enhance their capacity in responding to and detecting threats, and protecting critical information systems.
Le Hang