The 2014 ASEAN Banker Forum was held in Ho Chi Minh City, onDecember 3, highlighting the prominent role of modern technologies inthe development of retail banks.

At the forum, regionalleading experts in the field discussed opportunities and challenges forretail banks in Vietnam between now and 2020. Experts also spoke ofmain risks in operation of retail banks at developing countries.

Can Van Luc, a financial specialist from the Commercial Bank forInvestment and Development of Vietnam (BIDV), said more and moreVietnamese banks have prioritised improving their services and riskmanagement system based on advanced technologies. Notably, the onlinebanking services for individuals are promoted, he added.

Developing e-payment service is one of strategic solutions of retail banks, Luc stressed.

According to the participating experts, the e-payment service will bedeveloped strongly in Vietnam between 2015 and 2020 due to anincreasing trend of collaboration among banks, telecommunicationscompanies, shopping centres, and supermarkets. Besides, the socialnetworks have become a potential source for commercial banks to find andserve its target customers.

Nguyen Hoang Long, ViceDirector of Smartlink Card JSC, said that 32 Vietnamese banks arecurrently applying mobile banking service with more than 3 millionmonthly users.

According to Ernst & Young’s GlobalConsumer Banking Survey 2014, 75 percent of90-million-Vietnamese-population have no access to banking services,reflecting a huge opportunities for retail banks in Vietnam.

The forum was co-organised by the Vietnam Bank Association and International Data Group IDG Vietnam.-VNA