At the Digital Transformation in Banking event held on August 18, 2026, Governor Pham Duc An emphasized the importance of advancing the banking sector's digital transformation. He noted that significant progress has been made in the last five years, with nearly 89% of individuals aged 15 and older now having payment accounts. The value of cashless transactions has exceeded 28 times the GDP, and the number of cashless payment transactions has grown by an average of 59% annually.

Despite these achievements, Governor An stated that the results are only preliminary. He highlighted the need for deeper digital transformation, which brings new challenges related to regulations, data security, cybersecurity, and artificial intelligence. To address these challenges, he assigned six critical tasks to banking institutions:

• Review and Improve Legal Framework: Enhance the legal framework to promote innovation while effectively managing risks, focusing on digital banking activities and identifying emerging issues from AI and new banking models.
• Upgrade Digital Infrastructure: Modernize the national payment infrastructure to ensure safety and continuous operation, and develop a unified banking data architecture that enhances data quality and sharing capabilities.
• Promote Responsible AI Application: Encourage banks to research and develop AI applications for data analysis, risk management, and customer service, while establishing governance principles for AI to ensure data protection and accountability.
• Ensure Security and Trust: Shift from reactive to proactive measures in cybersecurity, investing appropriately in data security and fraud prevention to protect both systems and customers.
• Focus on Serving Citizens and Businesses: Enhance data utilization to improve customer assessment and credit management, ensuring that financial services are accessible to all, including vulnerable populations.
• Develop Skilled Workforce: Invest in training personnel with expertise in data, AI, and cybersecurity, with leaders held accountable for the outcomes of digital transformation efforts.

Governor An concluded his speech by stressing that efforts should not be scattered or trend-driven but should be evaluated based on the real issues resolved and the tangible value created.