However, with digital financial services, modern technology or utility applications alone are not enough, but digital trust is also needed. This is the decisive factor for people to be willing to switch from paper and cash records to completely online transactions or not.
It can be imagined that if technical infrastructure such as national switches, QR codes or ISO 20022 standards are the "highway" of digital finance, then digital trust is the " Traffic law and traffic lights" for everyone to dare to go and go correctly.
In cross-border payments, trust is expressed in transparent exchange rates, clear fees, clear complaint - refund mechanisms and especially personal data security.
In online loans, trust comes from transparent contracts, public interest rates, accurate customer identification and civilized debt reminder methods.
In other words, convenience is just the first time opening, while trust is the reason why customers come back many times. In particular, digital services, in which online lending is a fairly new form, are still unfamiliar and confusing to the majority of people today.
Therefore, for this service to come into life, it is necessary to have a multi-layered "trust shield", from the legal system, security techniques, and effective handling points to always ensure that users are not pushed at risk.
When trust is strengthened, users will feel secure in cross-border transactions, less worried about losing money or disclosing data. Vietnamese enterprises, especially small and medium enterprises, are no longer " troubled" in collecting money when selling products internationally.
Commercial banks can lend online faster thanks to dynamic data from cash flow and invoices, expanding capital for customers without a credit history.
However, digital trust comes not only from banks and management agencies but also from users themselves.
To use digital services safely and effectively, people must also build their own trust by changing habits such as: Be careful with floating QR codes, activate two-layer authentication, do not pay via public Wi-Fi - then trust will be more sustainable.
At the national level, digital trust helps transactions be transparent, risk management is effective, and at the same time, the reputation of the Vietnamese financial system is enhanced. This is a condition for us to participate more deeply in the global value chain, not only in production but also in financial services.
In the long term, digital trust is also a type of "national brand". Because a transparent, safe and reliable financial system will help Vietnam attract capital flows, promote trade and affirm its position in the global digital economy.
