On June 19, 2026, the State Bank of Vietnam (SBV) convened the First Meeting in 2026 of the Banking Sector’s Steering Committee on Science and Technology Development, Innovation, Digital Transformation, Data, and Scheme 06 (the Steering Committee) to review key achievements and discuss priorities for the remainder of 2026. The meeting was chaired by SBV Governor Pham Duc An, Head of the Steering Committee. Also attending the meeting was Mr. Pham Tien Dzung, Member of the Standing Board of the SBV Party Committee and SBV Deputy Governor.
SBV Governor Pham Duc An chairs the meeting
In his remarks, Governor Pham Duc An emphasized that the deeper and more extensive digital transformation becomes, the more important it is to place cybersecurity, information security, and data protection at the center of all activities. He requested SBV units to proactively strengthen prevention, monitoring, early warning, and timely response mechanisms while safeguarding customer rights and maintaining public trust in the banking system. The Governor also called on participants to focus their discussions on key challenges facing the banking sector and practical solutions for the coming period.
Applying science, technology, innovation, and digital transformation to better serve people and businesses
Speaking at the meeting, Deputy Governor Pham Tien Dzung, Deputy Head of the Steering Committee, stressed that safety and security are fundamental prerequisites for successful digital transformation. He noted that information technology security should evolve from traditional network monitoring toward comprehensive monitoring of financial transactions. At the same time, he emphasized that all digital transformation initiatives should ultimately aim to provide better and more convenient services to citizens and businesses.
Deputy Governor Pham Tien Dzung speaks at the meeting
Reporting on the implementation of key tasks, Mr. Le Hoang Chinh Quang, Director General of the Information Technology Department, stated that since the beginning of 2026, the SBV has actively improved its governance framework for science and technology development, innovation, digital transformation, and data management through the issuance of a series of important plans, directives, and decisions. Notably, SBV issued Decision No. 1039/QD-NHNN dated May 12, 2026, promulgating the 2026 Action Plan of the Banking Sector’s Steering Committee to facilitate the synchronized implementation of tasks relating to science and technology development, innovation, digital transformation, data, and Scheme 06.
According to reports from credit institutions, nearly 90% of banks have gradually adopted advanced technologies such as artificial intelligence (AI), big data, blockchain, cloud computing, Open APIs, robotic process automation (RPA), and the Internet of Things (IoT) in their operations. These technologies are being applied in areas including customer behavior analysis, risk management, fraud prevention, and the development of new products and services.
The banking sector has also continued to invest in technological infrastructure and upgrade information technology systems to support digital transformation. Vietnam is actively expanding bilateral cross-border payment connectivity and has successfully implemented QR-code payment linkages with Thailand, Laos, Cambodia, China, and the Republic of Korea, while continuing efforts to expand such connectivity to other regional markets.
Mr. Le Hoang Chinh Quang, Director General of the Information Technology Department
The digital payment ecosystem, featuring a wide range of modern and convenient payment methods, has delivered tangible benefits and effectively met the diverse needs of customers. Several banks have achieved digital transaction rates exceeding 95%, with some approaching 100%; In addition, all internal work documents are now processed electronically, and many banking products and services have been fully digitized.
By the end of 2025, more than 87% of adults in Vietnam held bank accounts. Non-cash payment transactions reached a value equivalent to 28 times the country’s GDP. During the first four months of 2026, compared with the same period in 2025, the volume of non-cash payment transactions increased by 36.02%, while their value rose by 10.74%.
The SBV continues to prioritize ensuring the security and safety of information systems and payment operations. To date, the Information System for Supporting Management, Monitoring and Prevention of Fraud Risks in Payment Operations (SIMO) has been implemented across the banking sector with the participation of 147 institutions. The system has received information on more than 700,000 accounts suspected of fraud or scams, and has issued warnings to over 4.5 million customers. As a result, more than 1.5 million customers have suspended or cancelled potentially risky transactions, helping prevent losses accounting to more than VND 5 trillion.
At the meeting, representatives from commercial banks shared views on the role of AI and data in banking digital transformation, data connectivity and interoperability, the use of AI and data analytics to combat online fraud and scams, and mechanisms to strengthen coordination across the banking sector.
Cybersecurity and data protection are integral requirements throughout the digital transformation process
In his concluding remarks, Governor Pham Duc An stressed the importance of mastering core technologies, promoting technology transfer, developing a highly skilled technology workforce, strengthening coordination with relevant ministries and agencies on cybersecurity and privacy protection, and establishing rapid-response mechanisms for information security incidents.
The Governor requested that commercial banks continue to strengthen leadership accountability in implementing digital transformation initiatives; further improve institutional frameworks, mechanisms, and policies supporting the sector’s digital transformation; and review organizational structures, staffing arrangements, and resource mobilization mechanisms to enhance cybersecurity capabilities, respond effectively to information technology incidents, and ensure the uninterrupted operation of critical information systems.
He also encouraged institutions to proactively research and apply emerging technologies, while establishing effective coordination and implementation mechanisms for technology-related initiatives across the sector.
The Governor emphasized that cybersecurity and data protection must remain overarching priorities throughout the digital transformation journey. He called on all units to strengthen risk prevention, monitoring, and timely response capabilities; intensify efforts to combat online fraud, safeguard customer information; conduct regular security assessments; and ensure the continuous and secure operation of critical information systems.
HY