Vietnam’s banking sector is undergoing a dynamic transformation as it moves toward building a comprehensive digital ecosystem aimed at enhancing customer experience, increasing operational efficiency, and contributing to national economic development. This shift is not merely a response to technological trends but a strategic move aligned with the national digital transformation agenda, which envisions a smart, customer-centric, and inclusive financial system.

Under the guidance of the State Bank of Vietnam (SBV), the banking industry is implementing a robust digital roadmap through Decision No. 810/QĐ-NHNN. This roadmap outlines key digital transformation goals up to 2025, with a longer-term vision to 2030. The initiative focuses on leveraging emerging technologies such as artificial intelligence, big data, blockchain, and open banking to develop intelligent, adaptive financial services that meet the evolving needs of both individuals and businesses. Central to this vision is the formation of a smart digital ecosystem where financial services are seamlessly integrated into customers’ daily lives, improving accessibility and convenience across all regions, including remote and rural areas.

Agribank, one of the country’s largest state-owned commercial banks, exemplifies this transformation in action. With nearly 20 million customers and an extensive branch network, Agribank has become a pioneer in offering digital solutions that address the diverse financial needs of the population. Agribank has launched more than 220 digital products and services, with its mobile platform, Agribank Plus, reaching nearly 13 million users. This demonstrates Agribank’s active role in promoting digital financial inclusion and reducing barriers to banking access for underserved communities.

To support its transformation, Agribank has invested heavily in digital infrastructure and innovation. The bank’s Open API platform has been recognized for enabling seamless integration with fintechs and third-party service providers, fostering an interconnected financial ecosystem. Agribank has also been honored with prestigious industry awards, such as the Sao Khuê Awards, for its contributions to digital banking excellence. Internally, Agribank has established innovation labs and research units to nurture new ideas, design customized digital solutions, and embed a culture of innovation within its operations.

The broader banking sector is also deepening its collaboration with government agencies, technology firms, and international partners to build an ecosystem grounded in interoperability, security, and shared innovation. These partnerships are essential in ensuring the sustainability and resilience of digital financial services while fostering the development of innovative, user-friendly banking solutions tailored to customer expectations in the digital age.

As Vietnam continues on its path of digital transformation, the banking sector’s commitment to building a comprehensive digital ecosystem reflects its strategic vision for the future—one where technology, innovation, and customer value converge. This approach not only supports the modernization of the financial system but also strengthens its role as a driver of inclusive growth, helping Vietnam thrive in an increasingly digital global economy.

Kylie Nguyen