At a training program for leaders of its regional branches, the State Bank of Vietnam set out its current direction for banking sector digital transformation, with Deputy Governor Pham Tien Dung stressing that the shift must start with changes in management thinking, operating methods and work processes rather than technology deployment alone. He framed data as the foundation for decision-making and supervision, with a stronger move toward evidence-based management and earlier risk warning while maintaining safety, efficiency and legal compliance. In the discussion, the deputy governor pointed to recent progress in cashless payments, digital banking services, QR payments, population data connectivity, online public services and the modernization of information systems. He also highlighted the main challenges facing the sector, including the rapid development of new technology, the need to modernize critical systems, fragmented data, cybersecurity risks, high-tech fraud, online scams and the need to improve digital skills across the industry. For the period ahead, the priorities presented were to refine the institutional and policy framework for banking digital transformation, modernize the State Bank of Vietnam's digital infrastructure and critical information systems, treat data as a core asset, strengthen information and cyber security, and improve coordination between business and technology units. For regional branches, the message was to strengthen leadership accountability for digital transformation, build a digital culture in day-to-day operations, use the central bank's critical information systems more effectively, and enforce data discipline so information is accurate, complete, clean, live, consistent and shared. Branches were also asked to step up supervision of compliance with safety and security rules in digital banking and work with local authorities, agencies and credit institutions to broaden cashless payment ecosystems and support safe digital banking services for households and businesses.
State Bank of Vietnam2026-06-17
State Bank of Vietnam outlines data led and security focused priorities for banking digital transformation
In remarks to regional branch leaders, the State Bank of Vietnam said banking digital transformation must be driven by changes in management, processes and data use, not just new technology. The central bank highlighted priorities including stronger data-based decision-making, modernization of critical systems, tighter cybersecurity and fraud controls, and closer supervision of digital banking compliance. Regional branches were also urged to expand local cashless payment ecosystems.