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Banking sector to develop retail markets
Developing commercial banks’ retail markets and banking security is the theme of a banking conference that opened in Ho Chi Minh City on Dec. 2.
Speaking at the opening ceremony of the Banking and Security Vietnam 2008 Conference, State Bank of Vietnam (SBV)’s Governor Nguyen Van Giau said that the Government considers the use of monetary and financial policies a decisive factor in preventing an economic recession.
He asked banks to focus on investing in technology in order to ensure the stability, safety, sustainable development and competitiveness of the Vietnamese banking system.
Banking Vietnam 2008 will put forth a series of new technological solutions that will help banks to define their own modern banking service channels, effectively manage and use payment systems and expand retail banking services in the context of the ongoing global financial crisis.
Participants at the conference said that the development of high-quality banking services is a vital issue for commercial banks, therefore, inter-bank technological systems, such as internet banking, homebanking and phonebanking will be prioritised.
According to Ta Quang Tien, Director of the SBV’s Department of Banking Information Technology, the SBV has begun the second phase of an interbank e-payment system to connect 58 SBV affiliates and 1,500 commercial bank branches.
The first phase of the project, which utilised more than 2,000 separate software systems, helped the national banking system successfully conduct 24 million transactions, worth 26,000 trillion VND in total, between 2002 and September 2008, he said.
VNA
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