Finance – Banking
Emerging Technologies: Elevating Management and Enhancing Market Insight in Vietnam’s Finance & Banking Sector.
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For Finance & Banking
These applications leverage strengths in Data, AI, and Cybersecurity, directly addressing the pressing needs for operational efficiency, risk management, security, and customer experience in today’s Finance & Banking sector.
Data Analytics & AI for Customer Understanding and Risk Management
Utilizing big data and AI for more accurate automated credit scoring, analyzing customer behavior for early detection of fraudulent transactions (card, transfers), predicting customer churn, and personalizing products (loans, savings, investments) tailored to individual needs.
Key Benefits: Reducing non-performing loans (NPLs), combating losses from fraud, improving customer retention, and increasing cross-selling revenue.
Enhanced Intelligent Cybersecurity (AI & Cybersecurity)
Building robust network defense systems, using AI to automatically detect and prevent sophisticated cyberattacks (phishing, malware, etc.), protecting customer data and core transaction systems. Ensuring secure user authentication (biometrics, multi-factor authentication).
Key Benefits: Protecting the bank’s assets and reputation, ensuring compliance with information security regulations, and building customer trust.
Process Automation and Enhanced Customer Experience (AI/RPA)
Employing AI (such as Chatbots/Virtual Assistants) for automated 24/7 responses to frequently asked customer questions. Using Robotic Process Automation (RPA) combined with AI to handle repetitive tasks like data entry, document reconciliation, and simple loan application processing.
Key Benefits: Reducing customer wait times, freeing up employees from manual work, accelerating transaction processing, and lowering operational costs.
Supporting Electronic Know Your Customer (eKYC) and Anti-Money Laundering (AML)
Applying AI (facial recognition, OCR for document reading) for fast and accurate remote customer identity verification; Analyzing transaction data to detect suspicious activities related to money laundering as per regulations; Blockchain technology can also be explored for secure sharing of KYC/AML information among institutions (with consent).
Key Benefits: Easier onboarding of new customers (online account opening), efficiently meeting legal KYC/AML requirements, and reducing the risk of exploitation for illicit activities.
Building Flexible and Secure Software Platforms
Developing modern, user-friendly Mobile Banking/Internet Banking applications; Building or upgrading Core Banking systems with open architecture for easy and secure integration of new services and third-party (Fintech) technologies.
Key Benefits: Providing the best digital experience for customers, creating a solid foundation for innovation and competition, and ensuring stable and secure system operations.