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Banking & Finance

Banking Vietnam 2015 kicks off

Released at: 11:48, 20/05/2015

Banking Vietnam 2015 kicks off

Modern solutions introduced at conference & expo.

by Minh Tuyet

The strong development of international banks, especially in regard to high technology, is expected to provide breakthrough measures for domestic banks when applied in Vietnam, Deputy Governor of the State Bank of Vietnam Nguyen Toan Thang said at the session on Leveraging Modern Technology to Transform Innovative Vietnamese Banking Services in Hanoi yesterday as part of the Banking Vietnam 2015 Conference & Expo being from May 18 to 20.

Five key features of technology were introduced that will assist Vietnamese banks greatly, including high-tech application trends in developing financial-banking products and services, big data, cash recycling ATMs in banking operations, technology ecosystems, and smart digital signage solutions.

High-tech application trends will focus on products and processes, paperless exchange, multi-channel services, synchronous interfaces, customer services, and analyzing feedback. Regarding big data in financial services, multi-channel customer interactions, location-based information such as news and financial reports and applying new metrics to pricing models, upselling, underwriting, trading strategies and fraud modes were introduced as key tools.

In predicting there will be 700 ATMs per million people by 2020 (against 171 in 2014) Mr. Tatsuhei Kawamura, General Manager of the Overseas Marketing & Sales Division at OKI Electric Industry, said that cash recycling ATMs would handle both cash in & out in one module and cut operation costs.

In terms of technology ecosystems, OmniChannel was explained by Mr. Hanuman Tripathi, Founder & Group Managing Director of InfrasoftTech, as preserving user experiences from one channel for search or comparison in another channel in banking. Mr. Pham Ha, Solutions Consultant at Samsung Electronics Vietnam, meanwhile, spoke about the company’s support to banking management, operations, and customer services.

On the same day two other sessions were also held, which were IT security governance that deliverers values and builds agility and innovation capability, and enhancing risk management capabilities towards efficient banking products and services.

Another session will be held today, on innovating banking payment service infrastructure.

The expo featured over 30 booths, introducing latest devices such as ATM Recycler G7, EMV chip, and FLEXTERA financial solutions.

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