On the morning of October 7th, in Hanoi, Tien Phong Newspaper and the National Payment Corporation of Vietnam (NAPAS) co-hosted the Vietnam Card Day 2025 Seminar, themed “One Touch, Endless Trust – Shaping the Future of Digital Payments.”
At the seminar, Mr. Nguyen Xuan Thanh from Fulbright University Vietnam noted that the finance and banking sector has long been a pioneer in technology adoption. From the mobile era enabling transactions “anytime, anywhere” to the smartphone age, technology has continuously reshaped financial experiences. Now, the industry is entering the artificial intelligence (AI) era, expected to revolutionize governance, operations, and customer service.
This transformation is driven by four key forces:
First, rising customer expectations. Users demand instant, seamless, and personalized transactions—from eKYC via VNeID to “super apps” integrating financial, consumer, and social needs.
Mr. Nguyen Xuan Thanh – Fulbright University Vietnam.
Second, inherent limitations of traditional banking. Many institutions rely on outdated, inflexible, and costly systems. Transitioning from legacy platforms to modern infrastructure tests leadership, especially for state-owned banks.
Third, fierce competition from Fintech, digital banks, and new payment platforms blurs service boundaries. Slow innovators risk being left behind.
Lastly, regulatory gaps. Digital financial models outpace legal frameworks, while risks like data privacy, security, and cyber threats grow, demanding flexible and timely policies.
Amid these forces, technology trends are reshaping finance. Organizations invest in flexible infrastructure optimized for digital transactions and deploy behavioral biometrics, enabling AI to identify users via habits and detect real-time fraud.
Open banking and embedded finance are becoming mainstream, allowing data and service sharing via APIs with third parties. Central Bank Digital Currencies (CBDCs) are being piloted globally, promising to transform savings and cross-border payments.
AI also boosts productivity by automating processes, cutting costs, and enhancing fraud and cyberattack prevention. However, new risks accompany opportunities: losing competitive advantages in open systems, biases in credit scoring models, and adversarial attacks targeting AI algorithms.
Experts emphasize that digital transformation is not just about technology but a cultural and mindset revolution. For finance and banking to thrive, a culture of transparency, collaboration, and innovation is essential—where individuals are empowered, accountable, and proactive in driving change.
Entering the AI era, technology is the driver, but people and culture are the foundation for a sustainable, intelligent, and humane financial industry—Mr. Nguyen Xuan Thanh stressed.
H. K
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