95% of payment and deposit transactions in Vietnam made digitally, says economist
(VOVWORLD) -95% of payment and deposit transactions in Vietnam are made digitally, which is why Vietnam, a developing country, is regarded by many as one of the best performers in digital banking, said Economist Dr. Pham Xuan Hoe.
 Vietnam among world’s best performers in digital banking (Source: VGP) |
Hoe joined a forum held Wednesday by the Vietnam Government Portal, where speakers discussed digital transformation in banking and the benefits of digital banking services.
They said digital transformation in banking was hastened by the COVID-19 pandemic, with both the banks and their customers profiting greatly from it. The banks that began the process earliest reaped the most encouraging results.
The Current Account Savings Account (CASA) program expanded 40-50%, resulting in a considerable surge in profits for the banks, according to the forum.