Digital Transformation in the Banking Sector Q1.2023

The banking industry is undergoing a powerful transformation in the process of Digital Transformation. This brings numerous utilities and conveniences to both individual and corporate customers, creating a new wave of payment and savings trends within the community.

Join Kompa as we review the report on discussion trends regarding Digital Transformation in the banking industry during Q1 2023.

Overall, the volume of discussions regarding Digital Transformation in the banking industry in Q1 2023 was primarily concentrated in March. This period marks the summary of business figures, demonstrating the significant impact of Digital Transformation activities on corporate business performance. Banks are still racing in the journey of applying Digital Transformation, most notably Techcombank (honored by Global Finance as the “Best Digital Bank in Vietnam for Customers,” and recognized by IDC (IDC Financial Insights Innovation Awards) as the “Most Outstanding Customer Engagement Bank in Asia”). BIDV Bank (BIDV launched the first digital bank for children in Vietnam, DigiUp – a preferential program for businesses undergoing Digital Transformation).

Techcombank holds the top position with the highest number of discussions (692 discussions). Vietcombank ranks second, followed by SHB, OCB, and Agribank. These are also the five banks most actively participating in digital transformation during the Q1 2023 period. In general, all banks are being very proactive and making great efforts in this digital transformation race, which is filled with challenges but also offers countless opportunities.