Digital Banking Sees Prosperous Future in Vietnam

Fintech News: Like the rest of emerging countries in Asia, digital banking penetration in Vietnam is on the rise. According to a survey by IDG Vietnam, 81% of respondents said they used digital banking solutions in 2017 compared to 21% in 2015.

Digital banking solutions are appreciated for their convenience and time savings and while the growth is real and strong there is still plenty of opportunities. A survey by McKinsey found that approximately 60% of customer in Vietnam would consider opening an account with a branchless digital-only bank.

Most of the banks in Vietnam are already providing Internet banking and digital payments services. Banks including Vietinbank, Vietcombank, BIDV, Agribank, Techcombank, and OCB are all allowing customers to make payments using QR code on their respective mobile banking app.

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