The SBV Deputy Governor made the statement at today's forum in Hanoi held by the Ministry of Science and Technology, the State Bank of Vietnam (SBV), in collaboration with the Vietnam Association of Science and Technology Information and Mot The Gioi (One World) Magazine.
Speaking at the forum, SBV Deputy Governor Pham Tien Dung stated that over 90 percent of customer transactions at banks are now conducted through digital channels, with banking services being automated, eliminating the need for tellers to process paper documents. This shift has required the banking sector to restructure processes and develop smart operational workflows.
This reality also demands that banks have a workforce well-versed in both banking operations and information technology. Banks that fail to achieve this will struggle to keep up with the game in the sector. According to Deputy Governor Pham Tien Dung, statistics show that there are approximately 200 million deposit accounts nationwide, with 87 percent of adults holding bank accounts—a significant figure. This situation necessitates training a workforce entirely different from the past.
Due to the surge in transaction volumes and accounts, SBV leadership emphasized that many banks now view information technology risks as comparable to credit risks. The banking sector will establish a new risk management system, with a strong focus on information technology security.
Meanwhile, Deputy Minister of Science and Technology Bui The Duy noted that artificial intelligence (AI) is transforming and reshaping the global landscape, impacting all sectors, including banking.
Deputy Minister Bui The Duy emphasized that IT staff in banks need to be equipped with new knowledge based on emerging platforms such as blockchain and artificial intelligence.
"Every six months to a year, a new generation of technology emerges. The next wave of AI systems will be proactive—almost like living organisms—that can autonomously advise us and carry out necessary tasks,” said Deputy Minister Bui The Duy.
He revealed that in addition, the rise of quantum computing poses significant challenges to existing encryption methods, demanding a comprehensive overhaul. Therefore, constantly updating technology workforce training is essential.
At the forum, experts unanimously agreed that the banking industry faces a paradox in human resources: having both an excess and a shortage. The surplus consists of personnel operating systems using outdated methods, while the shortage is in high-quality information technology professionals. Back in 2018, the banking sector needed 320,000 tech workers; by 2026, it is projected to require up to 750,000.
Currently, the supply of IT personnel for the banking sector still falls short of demand, even though this workforce plays a decisive role in shaping banks' competitive edge. This presents both a significant opportunity and a considerable challenge for professionals in the banking industry.
