Covid-19 boosts digitalization in banking bet88 finance

While inflicting myriad negative impacts, Covid-19 has also accelerated the digitization process in Vietnam’s banking bet88 finance sector, the “Future Banking 2021” online forum on October 7 heard.

The application of digital technology helps change the face of banks bet88 has brought benefits in terms of process automation bet88 productivity improvements, increased customer experience, bet88 reduced operating costs for banks, according to Mr. Nguyen Quoc Hung, Secretary General of the Vietnam Banking Association.

Moreover, mobile banking apps have now been upgraded to digital banking apps providing a wider range of features, from account opening, financial transactions, bet88 investments to non-financial services such as shopping, education, health, bet88 transportation. Banking services are now combined with other fields bet88 industries to build a smart bet88 comprehensive ecosystem.

Since the outbreak of Covid-19, payment systems, credit information systems, bet88 banks have been operating consistently bet88 smoothly, meeting the needs of people, businesses, bet88 government agencies.

However, there are some matters of concern. Firstly, the legal framework for technology is still under development, bet88 secondly, the mechanism for cooperation as well as data sharing between credit institutions bet88 between credit institutions bet88 the national database system are not clear.

In addition, the rate of cash transactions remains high. Some financial technology (fintech) ecosystems have not really connected with credit institutions to provide full convenience to users. Cooperation between banks bet88 fintech companies is yet to be as deep as expected.

As digital transformation changes consumer behavior, banks need to be dynamic, innovative, bet88 cooperative to offer diverse digital financial products bet88 services to meet customer needs bet88 keep them engaged.