Page 508 - ISC PROCEEDINGS 21.4

Year Regulatory instrument / Policy Key impact

sectors
Decision No. 810/QD-NHNN: Banking Digital infrastructure targets, digital
2021 sector digital transformation plan service KPIs, annual monitoring
2025/2030 framework

Decision No. 06/QD-TTg: National Integration of national population
2022 population database and e-identity database with bank eKYC;
application scheme onboarding time reduced to minutes

Law on Electronic Transactions No. Legal framework for digital
2023 20/2023/QH15; Decree No. 13/2023/ND- signatures, e-contracts, and user
CP on personal data protection data protection
Decree No. 69/2024/ND-CP on e- Remote onboarding authorised;
2024 identification and authentication; Decision digital workforce competency
No. 2069/QD-NHNN standards codified
First dedicated legal space for
Decree No. 94/2025/ND-CP: Banking
2025 fintechs and credit institutions to
regulatory sandbox
pilot new products and models
Source: Government of Vietnam; National Assembly; SBV (various years); author’s
compilation.
The issuance of Decree No. 94/2025/ND-CP established, for the first time, a flexible
legal environment enabling fintech companies and credit institutions to test new products,
services, and business models - including peer-to-peer lending and open APIs - within a
safely supervised perimeter (Government of Vietnam, 2025). The National Strategic
Technology List (Prime Minister’s Decision No. 1131/QD-TTg, 2025) further affirmed AI,
big data, blockchain, cloud computing, and cybersecurity as priority pillars in financial-
sector digital infrastructure development, providing long-term investment signals for the
industry.
3.6. Artificial intelligence in banking infrastructure: from automation to AI-driven
economic transformation
In the AI era, Vietnam’s banking sector is transitioning from process automation to
AI-driven transformation - a deeper phase of economic transformation. The 2023–2024
period marks the shift from discriminative AI (applied to credit scoring, fraud detection,
and payment prediction) to generative AI integrated into customer service and asset
management. Techcombank deployed an AI-powered data platform that automates
service personalisation for over 14 million customers (SBV, 2024b); VPBank applies
machine learning models to credit risk scoring, reducing NPL ratios; VietinBank saves over
one million working hours per year through AI-assisted workflow automation (SBV,
2024b).
The economic impact of AI in banking infrastructure manifests across three
dimensions: (i) Labour productivity: AI reduces the marginal cost of processing
transactions and resolving complaints, improving CIR without expanding headcount; (ii)
Credit quality: big-data and AI-driven credit-scoring models extend lending capacity to
segments without traditional credit histories (Vives, 2019); (iii) Service ecosystem:
generative AI integrated into chatbots, automated financial advisory, and personalised

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