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COVER STORY
DIGITAL TRANSFORMATION OF
VIETNAM’S BANKING INDUSTRY
The State Bank of Vietnam (SBV) on May 11 approved
a plan on the digital transformation of the banking sector
by 2025 with a vision to 2030
By 2030, at least 70% of the SBV’s
inspection and supervision activities By 2030, at least 70% of its banking
will be carried out in a digital operations will be fully performed
environment and via its information digitally by customers
technology system
All Level 4 public services are to be
All public services of banks will be integrated on the national public
eligible to be upgraded to service portal and 90% of work
Level 4 by 2025.
records at the SBV are to be
processed and stored online.
By 2030
The SBV target is for AT LEAST
at least 70% of its
inspection and 70%
supervision activities
to be carried out of banking operations
through a digital will be fully performed
environment and the digitally by customers. 95%
information system
of a bank.
of credit institutions in Vietnam are to
have either implemented digital
transformation strategies or be in the
process of formulating them.
6 | VIETNAM ECONOMIC TIMES | NOVEMBER 2021 www.en.vneconomy.vn
