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bet88 comNon-physical banking models gaining traction
Forum hears of bet88 com benefits to be had as Vietnam embraces bet88 com digitalization of its banking sector.
Covid-19 and bet88 com overall trend towards digitalization in Vietnam are bet88 com main factors accelerating bet88 com transformation to non-physical models at banks, analysts told bet88 com “Developing smart banks in bet88 com age of industrialization and modernization to 2030, with a vision to 2045” forum held by bet88 com Party Central Committee’s Economic Commission on November 18.
Digital transformation in bet88 com banking sector has achieved positive results in recent times, Deputy Governor of bet88 com State Bank of Vietnam Pham Tien Dung told bet88 com gathering.
Regarding banking services, payments on mobile devices has grown strongly every year, by 90 per cent in terms of quantity and 150 per cent in terms of value. Many banks have over 90 per cent of transactions performed on digital channels.
According to Ms. Dang Tuyet Dung, Director of Visa in Vietnam and Laos, cash payments decreased significantly amid bet88 com Covid-19 pandemic. Prior to that, there were 6.8 cash transactions out of every ten transactions, but during bet88 com pandemic that number fell to just 5.4.
Mr. Bruce Delteil, Managing Director of McKinsey & Company Vietnam, said bet88 com strong growth of fintech companies has contributed to improving customer access to and use of digital financial services.
A survey by McKinsey & Company revealed that 80 per cent of Vietnamese customers use digital banking at least once a month, while bet88 com figure in 2017 was only 41 per cent. Fifty-six per cent of customers are willing to use other financial solutions from fintech companies, and 70 per cent of Vietnamese respondents said they are willing to buy products online, while 30 per cent have actually done so.
Mr. Delteil predicted that Vietnam’s digital ecosystem will reach a scale of billion to 0 billion in bet88 com near future.
However, there are more problems that need to be addressed, such as information security and safety, bet88 com legal framework, and customer attraction.
Business insiders have predicted that, in bet88 com near future, fintech companies could become bank customers, strategic partners, or even competitors in bet88 com field of personal consumer lending and payment services.
