Trang Chủ
Digital transformation - An inevitable development trend
Vietnam is currently one of the emerging countries in the world that has built a thematic program on national digital transformation approved by the Government to meet the country's development requirements in the new era. In particular, the National digital transformation program to 2025, with orientation to 2030 approved by the Prime Minister on June 3, 2020, has set the dual goal of developing the digital government, digital economy, digital society, and forming Vietnamese digital technology businesses with the capacity to go global. The National digital transformation program also clearly identifies 8 areas that have social impacts, have daily public relevance, change perceptions, bring efficiency, save costs, which needs to be prioritized, including the finance and banking sector.
To effectively implement the National digital transformation program to 2025, with orientation to 2030, the State Bank of Vietnam (SBV) has issued Directive No.02/CT-NHNN emphasizing the continued information promotion, communication, knowledge dissemination, financial education, guidance to people and businesses to understand and use banking products and services on digital platforms safely and in accordance with the law; promoting cooperation activities, sharing experiences and research and applying digital technology in banking to develop and provide a variety of products, convenient and safe banking services, enhance customer experience and meet the increasing needs and expectations of people and businesses.
The Governor of the SBV has also issued the Plan for digital transformation of the banking industry to 2025, with orientation to 2030 with the basic goal that by 2030, the credit institutions will have at at least 70% of banking operations that allow customers to perform entirely in the digital environment, at least 80% of transactions performed through digital channels.
Every year, the SBV periodically organizes the event "Digital Transformation Day". Financial education programs for people and businesses will be deployed to enhance knowledge and financial management skills, and improve knowledge in using banking products and services on digital platform safely and effectively. Moreover, the legal framework will continue to be improved to facilitate the digital transformation process in the banking industry. Digital infrastructure, e-government, and digital banking models are gradually upgraded.
Digital transformation to better protect depositors' interests
In the general digital transformation process of Vietnam as well as the banking industry, DIV has been gradually transforming digitally in a synchronous and effective manner in all aspects of operations. This content is stated under the Deposit insurance development strategy to 2025, with orientation to 2030.
Accordingly, closely following the direction and orientation of the national-level State-owned Enterprises as well as the plan of the banking sector, the DIV has issued documents to implement digital transformation in the entire system until 2025, with orientation to 2030; established the Digital transformation steering committee and the relevant support team at DIV.
DIV continues to implement the Digital transformation plan in accordance with the financial potential, human resources, infrastructure system... At the same time, clearly define the strategy to build a suitable, digital deposit insurance that complies with international practices. In particular, focus on the component of ensuring security and safety, especially network security. DIV needs to build, develop and continuously implement digital culture, including a culture of decision-making based on information and data.
“Taking depositors as the center” is the target targeted by DIV. In addition, DIV always deploys education and communication to make depositors aware of the utility of digital services, promote online transactions and encourage the use of online banking services. On the other hand, DIV is also gradually designing application software, digitize business processes as a basis for maximum protection of the legitimate rights and interests of depositors, contribute to ensure safe development, healthythy credit institutions system.
DIV continues to promote innovation and application of modern technology through enhancing information technology integration in the administration and management processes from headquarters to branches to keep pace with modern technological developments and the development of the banking industry; complete the mechanism for information technology, enhance safety and security system.
Digital transformation is a long and complex process including many steps that have been carried out for ages. Therefore, the DIV always defines a long-term vision but divides the goal and roadmap into many small parts and steps for implementation, which avoids creating complexity or abstraction and simplifying digital transformation. The factors affecting digital transformation are closely related and have complex, intertwined effects. Therefore, to successfully transform digitally, DIV targets a number of contents:
Firstly, have a truly attractive and engaging digital strategy, aligning digital transformation with operational goals. structured, DIV identified the idea, purpose and firmly grasped the foundations of digital transformation, determined the focus and objects that DIV was aiming for. Have an idea of digital transformation strategy, which is crucial to approach and organize a successful transformation. Digital transformation does not only rely on information technology, but is also consistent with the vision, mission, goals and values of the organization.
Secondly, develop digital infrastructure and digital platforms. Focusing on developing digital infrastructure and digital platforms is a prior task, a breakthrough solution, accelerating the digital transformation process. In the process of implementing digital transformation, digital infrastructure must be considered a fundamental element that needs attention, with priority given to investment early to ensure synchronization and modernity. Plan to build digital infrastructure for digital transformation must be based on inheritance and development from existing infrastructure platforms; clearly define goals and prioritize resource allocation to focus on synchronously implementing key information technology infrastructure platforms, such as: broadband infrastructure, internet of things (IoT) infrastructure; cloud computing infrastructure; data integration center, information security monitoring center; data integration and sharing platform; supervision system, safe operation, network security...
Thirdly, build and develop digital data. The key element of any digital transformation is digital data. Without digital data, it will be impossible to define digital operating models and carry out digital transformation. For digital transformation to be successful, in the process of implementing data construction, DIV must have a specific strategy. The process of deploying, building, and developing digital data includes determining the purpose of data usage, collecting data sources, digitizing data; deploying interconnection of data from systems, standardizing and restructuring active databases through data sharing systems and integration platforms; forming and building a shared data warehouse for the entire system on the basis of both providing data to serve digital transformation in ongoing fields, as well as directly exploiting it to serve digital transformation in new fields.
Fourthly, develop digital applications (digital activities). The specific manifestation of the digital transformation process is the determination of the transformation model, the selection of digital applications (software, information technology services, support tools...) to organize activities based on digital infrastructure, digital platforms, digital data sources, legal basis, ensure safety, information security, human resources...
Fifthly, train human resources with skills and professional knowledge related to digital transformation. Digital transformation requires the workforce and leadership to adapt and operate according to the new model, acquiring skills and specialized knowledge that will be effective when implementing digital transformation. Therefore, DIV needs to train and equip employees with the necessary skills, creative capacity and ability to quickly adapt to the constantly changing technological environment.
Sixthly, focus on investing in technology. DIV needs to apply digital technology to gradually connect existing systems into a seamless information system in all aspects of operations; building a common database in the entire system; constantly upgrading current systems; applying new digital technology to ensure information security and network security for data of the entire system.
In addition to the basic issues mentioned above, successful digital transformation also depends on the following factors: completing the legal basis and investing resources for digital transformation; ensure information safety and security; building and forming digital culture...
Although technology platforms for digital transformation are becoming increasingly popular, choosing a platform suitable for the scale and resources of the organization needs to be carefully deployed to ensure that it meets the following criteria: optimal , modern, up-to-date with trends and truly suitable for the organization's characteristics, meeting actual requirements during operation. In addition, DIV needs to pay attention to security policies and tools to prevent risks in the organization's operations.
To take advantage of the opportunities brought by the 4.0 industrial revolution, the DIV needs to constantly change and innovate; ready to act and innovate, autonomously build a digital transformation strategy, start with changing the perception of managers and workers.
Communication Department
