The 7th annual Smart Banking conference. VNS Photos

HÀ NỘI — The application of artificial intelligence (AI) must deliver tangible results, with a focus on enhancing customer trust and ensuring operational security, officials said at the Smart Banking 2026 event on Thursday.

Addressing the 7th annual high-level banking conference, Đào Minh Tú, vice chairman and secretary general of the Vietnam Banks' Association, said that the banking industry is entering a period of robust growth, driven by comprehensive digital transformation and the rapid expansion of AI.

He highlighted three major shifts currently underway: the transition from isolated automation to intelligent AI ecosystems; the use of AI for real-time fraud prevention; and the establishment of a legal framework for AI that aligns technological advancement with institutional responsibility and system security.

AI applications are expanding beyond electronic customer identification and automated responses to include the personalisation of customer experiences, the optimisation of credit appraisal, and the automation of internal business processes.

“The applications have enabled many banks to reduce operational costs by 20-40 per cent. However, such transformation must permeate the entire organisation, supported by robust data governance, flexible infrastructure, and transparent and secure deployment,” Tú said.

Speaking at the event, Deputy Governor of the State Bank of Vietnam (SBV), Phạm Tiến Dũng posed three critical questions: how to effectively harness the power of AI, how to maintain customer trust, and how to ensure that banking operations remain safe and stable in the face of increasingly complex risks.

“The banking system currently processes approximately 100 million payment transactions daily, with a total value of around VNĐ1.2 quadrillion (US$45.45 billion). At some banks, more than 95 per cent of transactions are conducted via digital channels. This scale necessitates increasingly high standards for operational efficiency and security,” Dũng noted.

According to Dũng, while the previous phase focused primarily on digitising processes and migrating services to digital environments, the next phase must centre on leveraging data, applying AI, and developing intelligent operating models. Competitive advantage now lies in the ability to transform data into value, and technology into productivity, operational efficiency, and customer trust.

On the sideline of the event, an exhibition was also held to showcase advanced technologies for the finance and banking sector.

“AI must generate substantive value, rather than merely creating a technological impression. The key assessment should focus on what problems AI is solving. Specifically, how it improves customer service, enhances operational efficiency for banks, and enables the early identification of risks.

“Therefore, AI must be integrated into the broader development strategy, aligned with data, business processes, human resources, and governance models. This is a matter of strategy, business modeling, and the management responsibilities of each bank,” Dũng noted, urging banks to study and rigorously implement the SBV’s regulations regarding safety and risk management in the application of AI.

The Deputy Governor directed banks to simultaneously monitor both cybersecurity and transaction activities. He noted a necessary shift in mindset: moving beyond a focus solely on protecting systems toward building resilience through early detection, rapid response, the maintenance of essential services, and effective recovery in the event of an incident. Security and safety must be embedded within the bank’s overall strategy and governance framework.

The Deputy Governor said that the SBV will focus on refining the legal framework with a level of oversight commensurate with the associated risks; upgrading payment infrastructure and shared infrastructure; expanding platforms for fraud prevention; and innovating the methods used to measure the effectiveness of digital transformation.

He noted that the next phase of digital transformation in the banking sector will be determined by the ability to harmoniously integrate four key elements: robust technology, high-quality data, rigorous governance, and a capable workforce.

“The SBV will continue to support credit institutions, foster innovation, refine the legal framework, ensure data protection, and enhance the overall resilience of the sector,” Dũng said.

At the event, Harmon Wang, CEO of anti-fraud solution provider StreamCube Technology, shared about building a smart bank-wide anti-fraud system to defend against sophisticated financial fraud.

According to Wang, in an era where fraud is growing increasingly sophisticated, a long-term defence requires a whole-of-society approach - spanning public security, regulators, telecom operators, banks, third-party payment providers, and enterprises.

Banks, as critical frontline defenders, must build comprehensive, bank-wide anti-fraud systems to safeguard both their own assets and their customers’ wealth, he said.

On the sidelines of the event, an exhibition was also held to showcase advanced technologies for the finance and banking sector from more than 40 reputable domestic and international technology solution providers, including StreamCube, Viettel Cyber ​​Security, FPT, GreenNode, EmbedIT, Lenovo and Samsung.

The event also included the ‘DF Cyber ​​Defense 2026’ proactive cybersecurity exercise and an AI Hackathon.

The event was held by the State Bank of Vietnam, the Vietnam Banks’ Association and the IEC Group, with an aim to implement Resolution No. 57-NQ/TW on establishing science, technology, innovation and national digital transformation as the decisive drivers of Việt Nam's socio-economic development. — BIZHUB/VNS