The State Bank of Vietnam (SBV) has outlined its banking-sector digital transformation and innovation programme in a report delivered by Governor Nguyen Thi Hong at the first meeting of the Government’s Steering Committee on science and technology development, innovation, digital transformation and Project 06 chaired by the Prime Minister. The SBV’s implementation plan, issued after Politburo Resolution 57-NQ/TW and Government Resolution 03-NQ/CP, comprises 51 tasks including building data infrastructure, promoting electronic lending, and accelerating cashless payments alongside safety and effectiveness. Progress on identity and data-enabled services was highlighted through coordination with the Ministry of Public Security and the use of the National Population Database across SBV and commercial-bank operations. As of 7 March 2025, 103 million customer records had been biometrically matched using chip-based citizen ID cards or the VNeID application; 56 credit institutions and 44 payment intermediaries had implemented chip-ID verification via mobile applications and 60 credit institutions via in-branch devices, while 32 credit institutions and 15 payment intermediaries had deployed VNeID, with 13 entities officially live. Pilots to link social security accounts with bank accounts for benefit payments were underway at 13 entities, with more than 335,000 social security accounts linked, and nine credit institutions were researching technical integration with the Ministry of Public Security’s C06 credit-scoring service. On administrative reform, SBV reported seven consecutive years ranked first in the public administration reform index and a 34.38% simplification rate for internal administrative procedures within its remit. The central bank indicated it would implement a forthcoming government programme to cut and simplify procedures affecting production and business once the relevant resolution is issued.
State Bank of Vietnam 2025-03-19
State Bank of Vietnam reports 103 million biometric customer matches and sets a 51-task banking digital transformation plan
The State Bank of Vietnam (SBV) detailed its digital transformation program, focusing on data infrastructure, electronic lending, and cashless payments. Progress includes biometric matching of 103 million customer records and chip-ID verification integration across credit institutions and payment intermediaries. SBV also reported leading administrative reform efforts, achieving a 34.38% simplification rate for internal procedures.