Hanoi (VNS/VNA) - Vietnam has big potentialin applying 4.0 technology to develop retail banks and payment utilities.

The Industry 4.0 trend involves a wave ofdigitalisation, changing the business models and activities of many banks.

Nguyen Dinh Tung, General Director of OrientCommercial Bank (OCB), said the participation of digital banks would be helpfulfor domestic and international enterprises when doing business and investing inVietnam.

Banking transactions could become quick and easyand could be done anywhere without needing to visit traditional branches, Tùngtold Thoi bao Kinh te Viet Nam (Vietnam Economic Times).

Investment in digital technology by Vietnamesebanks would be a revolution for all customers, he added.

The Joint Stock Commercial Bank for ForeignTrade of Vietnam (Vietcombank) was recently awarded SWIFT’s Global PaymentInnovation Initiative (GPI) certificate.

Dao Minh Tuan, Deputy General Director ofVietcombank, said by becoming a GPI bank, Vietcombank was ready to providecomprehensive solutions which could meet the demands of customers in moneytransfer activities by boosting the process, increasing its transparency andstatus checking ability.

The bank would continue to implement newutilities to improve the processing speed of transactions in the future, hesaid.

Shinhan Bank is also implementing digitalbanking to provide more non-cash payment channels to Vietnamese customers.

Shinhan’s ATM cardholders can convenientlywithdraw money using Samsung Pay at ATMs without cards.

With the orientation of becoming a leadingretail bank in Vietnam, the Sai Gon – Hanoi Bank (SHB) has implemented keysystems for information and technology (IT) activities.

SHB this year has been continuing to implement aseries of new solutions on modern technology platforms such as centralised datastorage systems, smart governance, data analysis applying big data andArtificial Intelligence (AI) in order to enhance data analysis capacities andserve business development.

VietABank is boosting investment in IT systemsto develop a digital banking strategy as part of the fourth industrialrevolution. Recently, the bank introduced products applying AI such as SmartBranch and ChatBot.

Nguyen Xuan Vu, a member of the management boardat Sai Gon Thuong Tin Commercial Joint Stock Bank (Sacombank), said by usingmodern IT platforms, Sacombank has the opportunity to develop digital banking,introduce convenient products and services, quick payment solutions, whileincreasing security.

Internet banking and mobile banking systems bySacombank have been upgraded to the Omnichannel platform, enabling electronictransaction channels of the bank to keep pace with IT trends around the world,he said.

The bank would continue researching and boostingco-operation with partners to create more products suitable with markets andmeet non-cash transaction demands of customers, he said.

Do Minh Phu, TPBank’s management councilchairman, told the newspaper that the bank had prepared platforms as part of a2018-2023 plan with the goal of becoming one of the top ten banks which havedeveloped sustainably and strived to keep the top position in digital bankingdevelopment. - VNA