Improving institutions, creating a foundation for digital transformation
On May 5, the State Bank of Vietnam (SBV) said that it has proactively researched, advised and issued many legal documents to promote the application of science and technology, digital transformation and non-cash payments. Regulations related to security and safety of information systems, as well as allowing the application of new technologies such as authentication via VNeID, contribute to removing legal bottlenecks.
Along with that, the SBV has consolidated the Steering Committee and the Working Group of the sector, focusing on 5 pillars including science and technology, innovation, digital transformation, data and Project 06. Action plan to implement Resolution 57-NQ/TW with 105 key tasks has created a consistent direction for the entire sector.
Payment infrastructure is invested synchronously
Infrastructure serving digital transformation continues to be focused on upgrading. The interbank electronic payment system operates smoothly and safely, while the electronic switching and clearing system operated by the Financial Switching and Electronic Clearing System operated by National Payment Joint Stock Company (Napas) is increasingly expanding connections with fields such as health, education, transportation, and supporting the provision of online public services.
Notably, the SBV has deployed retail payments via QR codes with many countries such as Thailand, Laos, Cambodia, China, South Korea and is continuing to expand cooperation. This is an important step in promoting convenient cross-border payments.
Cashless payments grow strongly
The digital service ecosystem of the Banking industry is developing rapidly, with many modern products and services, integrated and interconnected with industries and fields. Many nghiệp vụ have been completely digitized, while the transaction rate through digital channels at many credit institutions reaches over 90%.
By the end of 2025, nearly 89% of adults in Vietnam already have bank accounts. Notably, the total value of non-cash payments in 2025 is about 28 times GDP, showing a clear change in consumption habits.
In the first 3 months of 2026, non-cash transactions continued to increase by nearly 38% in quantity. Transactions via the Internet and mobile phone increased sharply, while transactions via ATM decreased by more than 9%, reflecting a trend of shifting away from cash.
Mobile Money service also achieved positive results with more than 11.45 million accounts as of the end of March 2026, contributing to expanding financial access in rural, remote and isolated areas.
The Banking sector has actively exploited the national population database and electronic identification system to clean up customer data. As of April 2026, more than 156 million customer records have been biometrically compared, helping to eliminate virtual accounts and improve transparency.
The synchronization of specialized databases to the National Data Center and interconnection through the NDXP platform also contributes to the formation of an open data ecosystem, effectively serving management and service development.
In parallel with digital transformation, security and safety assurance is particularly focused on. The SBV has deployed the Customer Risk Management, Monitoring and Prevention Information System (SIMO).
As of April 27, the SIMO System has been deployed to 149 units (including 99 credit institutions and 50 TGTT organizations). The system has supported warnings to more than 3.8 million customers, of which more than 1.2 million customers have temporarily stopped/cancelled transactions after receiving warnings, with a total corresponding transaction amount of more than 4.3 trillion VND.
By the end of April 2026, the system had been deployed in 149 units, supporting warnings for more than 3.8 million customers, helping to prevent fraudulent transactions with a total value of up to trillions of VND. Synchronizing warnings on many channels also helps improve the experience and protect users.
Administrative reform associated with overall digitalization
Administrative reform work continues to achieve many positive results. The SBV has cut more than 90% of administrative procedures and business conditions, and at the same time provided 57 full-service public services, reaching 100% of procedures that meet the conditions for digitization.
In the first 4 months of 2026, the rate of digitized dossiers reached nearly 74%, the rate of electronic result issuance was nearly 79%, with people's satisfaction always above 90%.
In addition, the "Digital Literacy" movement is also being widely implemented, contributing to improving digital skills throughout the industry. More than 1,400 initiatives have been recognized, along with a team of thousands of "digital ambassadors" promoting innovation from within the system.
