Generative AI to enhance banking experience in Vietnam

Speaking at the panel discussio of CIO Forum 2023 in Da Nang, Mr. Nguyen Xuan Hoc, Chief Information Officer of Military Commercial Joint Stock Bank (MB) said “MB has focused on integrating AI into bank’s management and business operations. We are currently in the testing phase of IBM watsonx generative AI platform, aiming to further enhance our capabilities in this dynamic digital landscape.”

The debut of IBM watsonx earlier this year had brought trustworthy generative AI platform to address the challenge of scaling and operationalizing AI and bridge the gap between AI technology and business outcomes across enterprises in Vietnam. Mr. Nguyen Xuan Hoc said that MB is working with IBM to test three components of watsonx platform, including watsonx.ai for new foundation models, generative AI and machine learning; the watsonx.data for data store built on an open lakehouse architecture and the watsonx.governance toolkit to enable AI workflows to be built with responsibility, transparency, and explainability.

MB have also continuously invested in a robust infrastructure to support AI development, utilizing IBM’s data and AI platforms such as NPS (data warehouse), IBM Cloud Pak for Data and IBM Power P10.

“Through IBM watsonx platform, businesses will have access to the toolset, technology, infrastructure and consulting expertise to build and tune their traditional and generative AI models,deploy them at large scale in a more trustworthy and open environment, and put AI in every corner to drive business success,” said Mr. Ngo Thanh Hien, Chief Technology Officer at IBM Vietnam.

Data and AI integration as foundation for AI-powered future

Trustworthy AI relies on the quality and governance of data and meets industry regulations and requirements. Mr. Tran Nhat Minh, Deputy Chief Executive Officer of Vietnam International Commercial Joint Stock Bank (VIB) said at the event that: “VIB uses AI to score credit, generating 50% of new cards to be sold online. In addition, VIB applies AI in Virtual Call Center for customer care and debt collection services. The more we apply AI, the more we realize the necessity of data management.”

"With the vision of becoming the most customer-centric and innovative bank in Vietnam, VIB recognizes the utmost importance of customer data. However, the challenge of data collection persists and requires software capable of systematically and intelligently collecting data, assisting the bank in sorting, filtering, and evaluating the most accurate data possible. With these considerations in mind, we are presently investing in IBM's Master Data Management (MDM) system to comprehensively oversee VIB's customer data," Mr. Minh added.

Security in the AI era

Ensuring organizational security in cyberspace is also top of mind as Mr. Van Anh Tuan, Chief Information Security Officer of Vietnam Technological and Commercial Joint Stock Bank (Techcombank), pointed out the importance of cyber security, data privacy and the need to detect data breaches threats. “We have partnered with IBM for more than 12 years. Techcombank places trust in IBM in providing the bank with infrastructure solutions such as IBM LinuxONE and IBM Power as well as security solutions Qradar SIEM/SOAR/Watson (AI)/QNI. For Techcombank, IBM is a collaborative and responsible partner, always ready to engage in discussions and support smoothly and effectively implementation.”

Representing Vietnam Public Joint Stock Commercial Bank (PVcomBank), one of the key partners which is deploying IBM solutions, Mr. Trinh Vinh Hien, Chief Technology Officer, shared at the event that "IBM's integration platform is highly comprehensive with ESB and Open API solutions. We are also looking to add Event Driven Architecture feature to complete the Agile Integration model. Our team are working with IBM to extend our automation portfolio as well as protect our digital assets, through IAM access and identity management solutions and are planning a close collaboration with IBM for data governance. This has enhanced development, accelerated pace, and provided a secured and discreet user experience. We acknowledge IBM's efforts in duplicating the success cases of organizations worldwide to Vietnam market today."

Prepare the bank for digital future

Mr. Nguyen Chien Thang, Director of Digital Bank Center at Bank for Investment and Development of Vietnam (BIDV), a longstanding client of IBM, shared that “When mentioning IBM, reliability immediately comes to mind. For instance, over the last two years, BIDV and IBM have been working together to launch an API platform, a crucial step in establishing the foundation for BIDV’s Open Banking model. Through IBM's API platform, BIDV has rapidly built a strong and extended ecosystem."

The IBM Vietnam CIO forum also showcased IBM LinuxONE Rockhopper 4, that combines massive scalability and security with a focus on energy consumption to help clients reach their sustainability goals. Building on IBM’s security leadership, IBM LinuxONE Rockhopper 4 protects data with end-to-end encryption for data at rest, in flight and a design for data in use. IBM believes that protecting data is one of the most important aspects of sustainable growth.

"With the emergence of advanced technologies and the increasingly competitive environment, organizations in Vietnam have been stepping up to revitalise their value chains, enhance product offerings, and elevate customer service platforms. IBM is always mindful that our greatest achievements are not just in the technology we deploy, but in helping organizations leverage technology like generative AI to improve productivity and customer experience,” said Pham Thi Thu Diep, General Manager and Technology Leader, IBM Vietnam.

“In today’s digital era, trust is organizations’ license to do business and they can't make advanced technology like AI break that trust. Through IBM watsonx platform, as well as our systems and our security solutions, IBM helps organizations in Vietnam ensure that they can unlock business value and growth, with transparency, ethics and governance that support increasing regulatory compliance requirements,” add Diep.