Optimizing infrastructure and diversifying banking services

The 14th Banking Vietnam Conference and Exhibition (Banking Vietnam 2011) opened in Hanoi on May 25, with a focus on infrastructure optimization and banking services diversity.

The two-day event, co-organised by the Information Technology Department of the State Bank of Vietnam (ITDB) and the International Data Group (IDG), attracted policy-makers, leading experts and enterprises from Vietnam and abroad, with the aim of modernising Vietnam’s banking system.

It is expected to increase the practical value of updating and developing the application of information communications technology (ICT) in all fields of banking activities to build a modern and integrated banking system

The application of information technology in banking activities has recently created opportunities for customers and investors to access advanced products and services. According to latest statistic, the credit indices/GDP and deposits/GDP increased from 17,7% and 13,6% in 1991 to 115% and 130% in 2010, respectively.

The number of ATM machines and citizens’ account in banking system also increased. By the end of 2010, the number of cards in country area reached 28.5 million, with more than 11,000 ATMs and nearly 50,000 acceptance devices (POS) put in place. Banking cards have become popular and potential payment means in Vietnam.

However, comparing with other countries in region and the world, Vietnam’s access to modern banking services competence remains low, the level of branches’ distribution and offices’ transaction are not really uniform.

Banking Vietnam 2011 is focused on managing banking activities, enhancing competitive advantage, optimizing infrastructure for high performance operation, promoting multi – channels of banking services for non-cash payment an ensuring banking information system security.

Addressing the event, Governor of the State Bank of Vietnam Nguyen Van Giau said that Banking Vietnam 2011 is taking place at an important time when the banking sector is celebrating its 60th anniversary.

SBV Governor Nguyen Van Giau
He highlighted the role and the meaning of this event, saying that Banking Vietnam 2011 will put forward information technology solutions in the finance and banking sector as well as concrete solutions to optimise technology infrastructure and improve banks’ capacity in dealing with risks.

Le Manh Hung, Director of the Information Technology Department under the State Bank of Vietnam, stressed the need to apply high technology in the local banking system. He called for more investment in improving technological infrastructure in the banking system to provide better services for customers.

Other participants emphasized the application of new technology and basic law for development non-cash payment, risk management and security.

At panel discussion, experts and speakers mentioned important problems, innovative ideas and effective solutions, as well as providing market analysis, trend analysis, banking development strategy to offer the latest and the most convenient banking services.

An exhibition has been held along with the conference, with a total of 35 stands put up by credit institutions, enterprises and IT firms in Vietnam and foreign countries, including those from France, Germany, Czech Republic, America and ASEAN, to introduce new technologies and the most advanced and modern services.

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