Banks to use population database in digital transformation push

The event will review what the sector has achieved after two years of implementing the digital transformation plan until 2025, with a vision for 2030.

According to head of the central bank’s payment department Pham Anh Tuan, digital transformation is a mandatory choice for Vietnam’s bank sector to overcome the challenges of the fourth industrial revolution.

Over the past two years, the central bank has introduced and implemented many important policies to step up digital transformation such as instructions on opening bank accounts via the eKYC method, the trial of mobile money and the non-cash payment plan.

It also issued guidance on ensuring security and unifying technical standards to facilitate connectivity and encourage people to use digital payment services.

The State Bank of Vietnam is also one of the active agencies in implementing the government plan on developing applications for population databases, identification and verification to serve national digital transformation during the 2022-2023 period.

In December last year, the central bank completed the connection of its public services with the national population database. It also worked with the Ministry of Public Security to clean up 25 million customer records in the national credit database.