Promoting digital transformation in the banking industry

QTO - In the context of digital transformation (DTS) becoming an inevitable trend, the State Bank of Vietnam (SBV) Branch Region 8 has been implementing many practical solutions, associated with administrative reform, improving service quality and promoting non-cash payments (TTKDTM). These efforts not only facilitate people and businesses but also contribute to building a digital economy and digital society in the area.

Strategic moves

The State Bank of Vietnam, Region 8 branch was established on the basis of merging branches of 3 provinces: Nghe An, Ha Tinh and Quang Tri. As a state management agency of currency and banking activities, the unit plays a central role in orienting and directing credit institutions (CIs) in the area to implement policies and guidelines on digital transformation. Immediately after its establishment, the unit quickly completed its organizational structure, issued directive documents, and developed specific action plans to promote the application of technology in all business activities.

Identifying digital transformation as one of the key tasks, the State Bank of Vietnam Branch Region 8 has focused on directing the system of credit institutions in the area to promote the application of information technology, improve business processes to reduce cumbersome procedures, save time and costs for customers. Many electronic banking services, such as: Internet Banking, Mobile Banking, QR Code, e-wallet... have been widely deployed. These services not only serve the daily payment needs of people but also open up opportunities to access modern financial services for rural and mountainous areas, which are considered difficult to access traditional banking services.

State Bank Branch Region 8 identifies conversion as one of the key tasks - Photo: TA

In addition, the management and supervision of the activities of credit institutions have also been innovated in the direction of digitalization. Connecting and sharing data with the central bank system helps shorten the time for information processing, improving the accuracy and timeliness in direction and operation. In particular, administrative procedures in the banking sector have been gradually brought to the electronic environment, helping people and businesses to perform easily and transparently.

According to Deputy Director of the State Bank of Vietnam, Region 8 Branch, Luong Hai Luu, the success of digital transformation cannot be separated from a systematic and synchronous investment strategy, therefore, infrastructure development is a top priority. This is not just the installation of additional machinery and equipment, but a strategic step to build a solid foundation for the development of digital services. The evidence is the impressive growth in the number of ATMs and POS machines, covering a wide area from cities to rural areas.

In addition, the emergence and popularity of the eKYC electronic identification method, accounting for nearly 30% of the total number of newly opened accounts, has created a real revolution, helping people access financial services without having to go to the counter. Thanks to that, the rate of people over 15 years old with bank accounts in Quang Tri province has reached more than 85%, showing that financial coverage has been expanded impressively.

Commercial banks have synchronously deployed digital services and utility products, creating a diverse and seamless payment ecosystem. Civil services, such as: Payment of tuition fees, hospital fees, electricity and water bills, telecommunications have been directly integrated into the bank's mobile application, helping to save significant time and costs...

Credit institutions support people to install biometrics - Photo: TA

Promote cashless payments

One of the most outstanding successes of digital transformation is the explosion of e-commerce, demonstrating a clear shift in people's payment habits. Under the direction of the State Bank of Vietnam, Branch Region 8, the widespread coverage of QR Code has turned this payment method into a habit of people, especially in the public sector, retail points and essential services with a coverage of over 80% of points accepting QR code payments operating stably, the coverage rate in urban areas reaching over 90%.

The impressive results are clearly shown through the number of more than 206 million e-commerce transactions through the banking system worth over 1.02 million billion VND in the first 6 months of 2025. This also marks a clear shift from the form of payment at the counter to electronic money transfer and contactless payment via Mobile/Internet Banking and QR Code. Banks have been making efforts to diversify digital products and services to meet the increasing needs of people, thereby creating a modern, safe and convenient financial platform.

As of June 30, 2025, the whole province has 66 credit institutions, including 31 level 1 bank branches and 35 people's credit funds; 246 ATMs (Nam Quang Tri 122 machines, Bac Quang Tri 124 machines), an increase of 13.5% compared to the end of 2021, more than 1.5 million ATM cards in operation, an increase of 65%, the POS network reached nearly 2,500 devices, an increase of 29%...

To strengthen users' trust, the work of ensuring security and safety in e-commerce activities has also been seriously and comprehensively implemented. The unit has closely coordinated with the Provincial Police and credit institutions to promptly prevent high-tech fraud. In particular, completing the comparison and updating of biometric information via chip-embedded citizen identification cards or VNeID application for 100% of personal accounts with transactions on digital channels is a breakthrough step, not only enhancing transparency but also creating absolute safety, helping people feel completely secure when transacting online.

The results achieved show the determination and effectiveness in the unit's direction of the digital transformation process. This is an important premise to continue expanding e-commerce, improving service quality, aiming to build a modern, comprehensive and sustainable financial system, bringing many practical benefits to people and businesses in the area.

Peace of Mind

Source: https://baoquangtri.vn/kinh-te/202509/day-manh-chuyen-doi-so-nganh-ngan-hang-92755fa/