Covid-19 forces Vietnam banks to accelerate digital transformation

A customer makes payment via a QR code. The Covid-19 pandemic pushes bank to foster digital transformation to survive. — laodong.vn

HO CHI MINHCITY (Vietnam News/ANN): The Covid-19 pandemic not only creates challenges for banks, but also pushes them to foster digital transformation to survive, experts have said.

A recent survey by the State Bank of Vietnam found that 95 per cent of credit institutions in Việt Nam have either implemented digital transformation strategies or are in the process of formulating them.