The State Bank of Vietnam held its annual Banking Sector Digital Transformation 2025 event, themed “Smart digital ecosystem in the new era”, outlining priorities for a customer-centric digital ecosystem built around data. In opening remarks, Governor Nguyen Thi Hong framed data as the core enabler of open, cross-sector digital services and as a key input for decision-making, risk forecasting, fraud prevention and protecting the national financial system. The central bank pointed to progress in the supporting framework and infrastructure, including an interbank electronic payment system processing an average of VND 820 trillion per day and financial switching and electronic clearing systems processing 26 million transactions per day. The national credit information infrastructure has been upgraded to increase processing capacity and automate updates, with successful data updates from credit institutions reported at above 98%. Biometric verification has been completed for more than 113 million individual customer records and more than 711,000 organisational records, covering more than 66% of organisational payment accounts transacting on digital channels. The update also cited end-to-end digitisation of several core banking services, digital transaction shares above 95% at many credit institutions, almost 87% adult account ownership, non-cash payment values at 25 times GDP, and cross-border QR retail payment connectivity with Thailand, Cambodia and Laos. To support implementation of Resolution 57-NQ/TW, the State Bank of Vietnam has developed and directed commercial banks to implement a VND 500 trillion credit programme for enterprises investing in infrastructure and digital technology for nationally important projects in transport, power and digital technology, based on project lists published by ministries. Twenty-one commercial banks have prepared the full VND 500 trillion, offering VND loans priced at least 1 percentage point per year below each lending bank’s average medium- and long-term lending rates, and the central bank will coordinate with ministries to guide and facilitate early rollout.
State Bank of Vietnam 2025-05-29
State Bank of Vietnam sets out smart digital ecosystem agenda and details VND 500 trillion credit programme for infrastructure and digital technology
The State Bank of Vietnam's annual Banking Sector Digital Transformation 2025 event emphasized a customer-centric digital ecosystem driven by data. Key developments include an interbank electronic payment system processing VND 820 trillion daily, biometric verification for over 113 million records, and a VND 500 trillion credit program for infrastructure and digital technology projects. The central bank also highlighted cross-border QR retail payment connectivity with Thailand, Cambodia, and Laos.