The State Bank of Vietnam has issued a banking-sector implementation plan for the Government’s programme to promote data creation in support of comprehensive digital transformation. The plan aims to deploy a unified digital architecture and shared platforms to enable seamless data interoperability and sharing across State Bank units and the wider banking system, and targets reviewing, assessing and fully standardising 100% of sector databases to common standards, with data required to be accurate, complete, clean, live, consistent and reusable. Key actions span legal, data and technology measures, including reviewing and building the regulatory framework for digital transformation, data governance, personal data protection and electronic identification, and issuing standards and technical norms for data connection and sharing and for input-data standardisation. Sector regulations are to be reviewed and amended to recognise the legal validity of data messages, electronic files and electronic administrative outcomes, including replacing paper submission requirements. The State Bank will coordinate with the Ministry of Public Security and partner firms to develop and issue a data strategy and a banking-sector digital transformation strategy, with initial focus on synchronising credit information data and the bank code database, alongside upgrades to systems, databases and shared platforms. Implementation governance assigns the Information Technology Department to monitor,督促, inspect and guide delivery, with heads of State Bank units directly responsible for execution and monthly reporting via the monitoring software for Project 06. Funding plans will distinguish state-budget items from public-private partnership deployment and be consolidated for submission through the Ministry of Science and Technology and the Ministry of Finance. The plan also covers training, consideration of appointing chief architects for IT and business, and information security and cybersecurity measures for national and sector databases aligned with TCVN 14423:2005, including incident-response coordination with the Ministry of Public Security, with support from FPT Joint Stock Company, CMC Technology Group and Global Technology and Telecommunications Corporation (GTEL).
State Bank of Vietnam 2025-08-24
State Bank of Vietnam adopts banking-sector data plan targeting 100% database standardisation and connectivity with national systems
The State Bank of Vietnam's plan for digital transformation in banking focuses on data interoperability and standardisation. Key actions include developing a regulatory framework for digital transformation, data governance, and electronic identification, alongside synchronising credit information and bank code databases. The plan involves collaboration with the Ministry of Public Security and private firms, with funding strategies distinguishing state-budget items from public-private partnerships.