Digital Revolution in Banking: From Resolution to Action in Practice

(Chinhphu.vn) – In recent days, the pillar resolutions have become the guiding compass to promote each step of the country's transformation, from politics, economy, culture, and society. The whole country is in an atmosphere of competition and innovation, with active participation and substantive participation of all levels and sectors.

According to the State Bank, to date, over 90% of banking transactions at many credit institutions are conducted via digital channels.

From policy to action

Resolution 57-NQ/TW dated December 22, 2024 of the Politburo identifies science, technology, innovation and digital transformation as strategic breakthroughs and the main driving force for national modernization, national governance reform and rapid and sustainable development. The Resolution emphasizes increasing investment in research and development, encouraging enterprises and social organizations to participate in science and technology activities and building an innovation ecosystem, especially in the field of technology startups.

Responding to this directive, the banking sector has proactively participated deeply in the national modernization process. With the function of mobilizing and allocating capital, the banking system contributes to directing capital flows into priority areas such as digital transformation, innovation, small and medium enterprise development, and sustainable growth projects.

In addition, the banking industry is at the forefront of applying modern technologies such as AI, Big Data and digital banking to improve service quality and promote financial inclusion. The combination of financial potential and technological capacity helps the industry become an important driving force in realizing socio -economic development goals.

Not only performing the role of macro-regulation, the banking industry also contributes to effectively implementing the country's development policies, promoting the digital economy and enhancing national competitiveness.

In recent times, the banking industry has achieved many outstanding achievements in digital transformation, contributing to the modernization of the financial system and improving the quality of services for people and businesses. Most commercial banks have invested heavily in technology infrastructure, developing digital banking, e-wallets, mobile applications and cashless payment services. Many pioneers have applied AI, Big Data, eKYC and blockchain to improve customer experience and optimize operations.

Many basic banking operations such as savings deposits, account opening, card issuance, e-wallets, money transfers and lending have been completely digitized. According to statistics from the State Bank of Vietnam, at many credit institutions, more than 90% of transactions are currently conducted via digital channels. Most banks have effectively connected to the National Population Database and deployed customer identification using chip-embedded citizen identification cards. Transactions via the Internet, mobile devices and QR codes in the past year recorded growth rates of 35%, 33% and 66% respectively compared to the same period in 2024. By early 2025, more than 87% of adults in Vietnam had bank accounts, with the total number of personal payment accounts exceeding 200 million.

When technology touches people's lives

The banking industry is showing strong determination in digital transformation. Banks are transforming themselves simultaneously, creating a flexible, modern and increasingly strong financial flow.

One of the key tasks assigned by the Government to the banking sector is to coordinate with the Ministry of Public Security to build a national customer database, promote connection and data sharing between national and specialized database systems and the National Public Service Portal. At the same time, the banking sector needs to expand data connectivity with ministries and sectors; promote the application of advanced technologies such as AI and Big Data to develop modern, secure and friendly services.

This is an important step to contribute to perfecting the national digital ecosystem, building a digital economy and modern society, serving people better, accompanying businesses in development and creating a sustainable future.

Currently, a series of new digital utilities are continuously deployed, contributing to simplifying procedures, saving time and effort for people and businesses. The digitalization process not only shortens the distance between people and public agencies, but also strengthens the connection between the private sector and public units, creating an ecosystem that operates more effectively, transparently and modernly every day.

Cashless payment is deployed in public service system

The integration of cashless payments in hospitals, schools, etc. is profoundly changing people's experiences. As shared by a mother taking her child to the National Children's Hospital, with just one application, the burden has been greatly reduced. If in the past, the mother had to work hard, taking care of her child, taking care of medical examination procedures, and paying hospital fees, but now she can pay hospital fees and receive automatic refunds without having to queue or fill out forms.

People save time and money; hospitals operate more efficiently and transparently; data is linked to the national system, improving monitoring and management efficiency.

Connections between public agencies, enterprises and banks are gradually forming an ecosystem to serve people better and better. In turn, the reputation and effectiveness of public agencies are also strengthened, becoming an important link in perfecting the national governance system.

The integrated payment solution brought by SHB to the 2025 Banking Digital Transformation Day is also an initiative that won 3 awards at SHB's internal competition.

A representative of SHB, one of the banks providing comprehensive financial solutions to many hospital systems across the country, shared: Digital transformation in the banking industry is not only about modernizing internal resources but also about making a practical contribution to the process of building a digital government. SHB always encourages initiatives from its own staff - those who understand the real needs of customers and society.

"The integrated payment solution at the National Children's Hospital is a clear example: both innovative and rooted in real life. When banks, businesses and public agencies work closely together, the national digital financial ecosystem will become increasingly complete, spread widely, serve people more effectively and contribute to promoting sustainable socio-economic development," said a SHB representative.

The achievements of digital transformation are legitimate benefits that people enjoy. The determination of the Government, the State Bank and the positive response of the banking system are contributing greatly to changing the face of national finance, shaping the construction of a digital economy.

In the context of the vision to 2045, Vietnam becomes a developed country with high income, digital transformation is no longer an option, but needs to be more effective, faster and closely follow the Government's policy. The pioneering of the banking industry with practical solutions being applied is one of the very practical models of bringing Resolutions closer to life, effectively implementing, by the people and for the people.

Mr. Minh

Source: https://baochinhphu.vn/cach-mang-so-nganh-ngan-hang-tu-nghi-quyet-den-hanh-dong-trong-thuc-tien-102250613175203991.htm