The results achieved in 2025 will be a solid premise for the Banking sector to continue to affirm its leading position in the digital age, making positive contributions to the country's breakthrough development in the new period”.
Deputy Governor of the State Bank of Vietnam, Chairman of the Vietnam Bank Union Pham Tien Dung shared with reporters before the 2026 Spring about the digital transformation picture of banks with many bright colors, and also said some solutions in the coming time to contribute to realizing the goals of digital economy, digital society, and digital government.
Dear Deputy Governor, the development of science, technology, innovation and digital transformation are of particular concern to our Party and State. On the digital transformation journey, the Banking sector is recognized as a pioneer, leading industry, contributing to realizing the goals of digital economy, digital society, and digital government. Please tell us more about the achievements that the Banking sector has achieved in the digital transformation process?
- Closely following the spirit of Resolution 57 of the Politburo considering digital transformation as a top priority, the Banking sector is steadfast in the motto of putting people at the center, considering convenience and customer experience as a measure of efficiency. Up to now, we have achieved positive results on two main pillars:
First, regarding institutional improvement: The SBV has proactively advised and issued key documents such as the Law on Anti-Money Laundering, the Law on Credit Institutions and regulations on security and safety. In particular, we have created breakthrough milestones with Decree 94/2025/ND-CP on the test mechanism (Sandbox) - for the first time creating a legal corridor for financial technology; and recently Decree 368/2025/ND-CP on Mobile Money, helping to expand access to financial services to remote, isolated, border and island areas.
Second, regarding technology infrastructure: The interbank payment system always ensures smooth and safe operation. Napas switching system has promoted integration with the National Public Service Portal, focusing deeply on essential areas such as health, education, and transportation. At the same time, the ATM and POS network has now widely covered most localities nationwide. Currently, Vietnam has completed the connection of cross-border retail payment systems via QR Code with Thailand, Cambodia, Laos, China and is deploying QR payment connection with some other countries.
The national credit information (CI) infrastructure is upgraded to increase the ability to process and update data automatically, and at the same time promote the deployment of the H2H (Host to Host) connection channel to 55 CIs to support CIs in saving time, manpower, reducing operating costs and ensuring the safety and transparency of CI activities.
Third, regarding the development of the digital ecosystem, banking services are now connected smoothly with many other fields. Many nghiệp vụ have been digitized 100%, the rate of transactions on digital channels in many banks has reached over 90% and especially currently more than 87% of adult Vietnamese people have bank accounts.
Fourthly, regarding data connection and cleaning, we closely coordinate with the Ministry of Public Security to implement Project 06. By the end of 2025, the Banking sector has biometrically compared more than 143 million individual records and 1.5 million organizational records. The SBV is also the unit that completed the task of synchronizing 100% of data on the National Data Center and sharing interconnected data through the NDXP platform early.
Fifth, the issue of ensuring security and safety is always put first. The SBV regularly and proactively monitors and directs payment service providers and payment intermediary services to strengthen measures to ensure security and safety in payment activities. The SBV's information system to support management, supervision and risk prevention for customers (SIMO) has been piloted, and by the end of December 31, 2025, more than 2.4 million customers had received warnings, of which more than 776 thousand customers had temporarily suspended/cancelled transactions after receiving warnings with a total corresponding transaction amount of nearly VND 2.9 trillion.
Sixth, administrative reform work associated with overall digitalization is also being promoted to reduce costs for people and businesses. For many consecutive years, the SBV has been in the top of leading ministries and sectors in terms of the Administrative Reform index.
In addition, the SBV has drastically proposed to cut and simplify 269 out of a total of 298 administrative procedures, reaching a rate of 90.3%, and at the same time cut 255 business conditions. In 2025, the SBV officially provided 32 more full-service public services, bringing the total number provided to 57 services, completing the task of 100% of eligible administrative procedures related to enterprises being upgraded to full-service public services. 90.51% of organizations are satisfied with the resolution of administrative procedures at the SBV, reflecting the trust and substantive choice of people and businesses towards digital methods.
In addition, in response to the movement "Digital literacy", on May 27, 2025, the SBV organized a Conference to launch the movement "The whole country emulates innovation and digital transformation" and "Digital literacy" in the banking sector associated with the implementation of Resolution No. 57 of the Politburo. These movements aim to popularize digital knowledge and skills, and arouse the will to innovate in each official, credit institution and the entire banking system. The spirit of proactively improving processes and applying digital technology has spread widely, helping the entire industry record an impressive number of 1,484 initiatives, of which 37 digital initiatives were registered on the Science and Technology Initiative Portal of the Ministry of Science and Technology.
Finally, we cannot fail to mention the pioneering imprints in innovating the organizational model and mobilizing high-quality resources. The SBV has completed the arrangement of the information system from 63 branches to 15 areas in just 03 months and updated the system according to the 2-level government model in 03 weeks, ensuring safe, smooth, uninterrupted operation, without affecting the operation of credit institutions, businesses and people.
Dear Deputy Governor, in recent years TTKDTM has developed strongly, contributing to the formation of a modern and smart payment system. 2025 is also the final year of implementing the Project on developing non-cash payments (TTKDTM) in Vietnam for the period 2021-2025 (Decision No. 1813). Up to now, what is the value of TTKDTM compared to GDP? Can you share the solutions to promote TTKDTM of the SBV in the coming time?
- Implementing the Party and Government's guidelines and orientations on promoting TTKDTM, the SBV has proactively and actively coordinated with ministries, branches, and related units to implement many solutions to promote the development of TTKDTM such as advising and submitting to the Prime Minister for approval the Project on developing non-cash payments (TTKDTM) in Vietnam in the period 2021-2025 (Decision No. 1813).
After 5 years of implementing Decision No. 1813, TTKDTM activities have developed quite strongly. The average annual number and value of TTKDTM transactions increased by 58.86% and 24.36% respectively (exceeding the target set in Decision 1813). The value of TTKDTM in the first 9 months of 2025 is 28 times higher than GDP in the first 9 months of 2025 (exceeding the target set in Decision 1813). In the first 11 months of 2025 compared to the same period in 2024, TTKDTM activities continued to grow quite strongly: TTKDTM transactions increased by 42.34% in quantity and 22.59% in value; through Internet channels increased by 52.91% in quantity and 36.25% in value; through mobile phone channels increased by 36.48% in quantity and 20.48% in value, of which through QR code methods increased by 54.45% in quantity and 141.02% in value). Transactions via ATM decreased by 17.30% in quantity and decreased by 6.21% in value compared to the same period in 2024 - showing that cash is gradually being replaced in
As mentioned above, on December 22, 2024, the Politburo issued Resolution No. 57-NQ/TW; The Government issued Resolution No. 03/NQ-CP dated January 9, 2025, promulgating the Government's Action Program to implement Resolution 57 (amended, supplemented, and updated in Resolution No. 71/NQ-CP dated April 1, 2025 - Resolution 71), which includes many contents related to the development of TTKDTM, digital transformation. The SBV has issued the Action Plan of the Banking sector to implement Resolution 57 and Resolution 71, which assigns specific tasks to relevant units to implement many solutions to achieve the above goals in order to promote the development of TTKDTM and digital transformation in the Banking sector.
Accordingly, the SBV continues to research and improve the legal framework, mechanisms, and policies on TTKDTM, digital transformation; direct the upgrading and development of interbank electronic payment systems, financial switching and electronic clearing systems, and payment systems of banks to ensure safe and efficient operation and ability to connect and integrate with other systems, expand the digital payment ecosystem to serve online payments; continue to promote TTKDTM for public services; strengthen security, safety and confidentiality of payment and banking operations, protect the legitimate rights and interests of customers; promote communication and financial education to improve public knowledge and skills in using financial and banking products and services.
Please, Deputy Governor, share some orientations and tasks that the Banking sector will implement in 2026 to contribute to realizing the goals of national digital transformation?
- In 2026, the Banking sector will continue to drastically implement key tasks according to the Party's direction, the National Assembly and Government's resolutions, and the Prime Minister's direction with the motto "Progressive action, spreading results", "taking people and businesses as the center". The focus will be on raising awareness, breakthrough thinking, perfecting institutions and strengthening investment in modern digital platforms and perfecting a 100% digital working environment. The results achieved in 2025 will be a solid premise for the Banking sector to continue to affirm its leading position in the digital age, making positive contributions to the country's breakthrough development in the new period.
Accordingly, in the coming time, the SBV will focus on implementing a number of specific solutions as follows:
First, continue to improve institutions to facilitate banking digital transformation activities, issue circulars and legal documents to continue to promote and promptly remove obstacles and bottlenecks in science, technology, innovation and digital transformation development.
Second, ensure the smooth and safe operation of payment systems. Upgrade information technology infrastructure, deploy security and confidentiality solutions in banking operations and enhance interconnection and service integration between the banking industry and other industries and fields, expand the digital ecosystem to increase convenience and customer experience.
Third, continue to develop digital data: Plan to build common data warehouses for the banking industry; promote connection and data sharing between national, specialized databases and the National Public Service Portal; promote fast, convenient, and safe online payments.
Fourth, continue to improve the specialized database, reform administrative procedures and online public services; in which, continue to build a centralized, synchronous administrative procedure resolution system, comprehensively digitize processes, replace paper records with published data, digitized documents, reduce processing time, improve transparency, improve the investment and business environment, reduce costs, thereby creating favorable conditions for people and businesses to access banking services, contributing to improving the quality and efficiency of internal governance.
Fifth, promote the application of digital technology and effectively exploit existing databases, especially connecting and using the National Population Database, in order to fundamentally innovate the method of designing, developing and providing banking products and services in the direction of personalization, convenience, and suitability to the needs and behaviors of each customer group; and at the same time improve the capacity to early warn, detect and prevent fraud, strengthen security, safety, information security and protect the legitimate rights of customers.
Sixth, continue to promote communication and information to customers in many forms to guide and raise customer awareness and understanding of technology applications and notes and warnings to support customers in recognizing, preventing, and avoiding risks when conducting transactions in the electronic environment.
Seventh, strengthen coordination with ministries and sectors, upgrade technical infrastructure, standardize data in each industry and sector, create favorable conditions for integration, connection, and information sharing with banks and organizations providing intermediary payment services to expand the digital ecosystem and develop digital banking and digital payment services.
Eighth, develop policies to attract, treat and train high-quality human resources in information technology and digital transformation. Strengthen cooperation, promote learning and researching international experience, applying it reasonably and effectively, in accordance with the practical operating conditions of banks in Vietnam.
Thank you, Deputy Governor!
