Market Analysis: Vietnam Banking Update, 2009 - Seeking Independence Through TechnologyIDCAugust 11, 2009 15 Pages - SKU: IDC2419598 |
| Countries covered: Vietnam This Financial Insights report elaborates the key points and updates discussed at the Financial Insights Vietnam Banking Roundtable. The roundtable forum is a part of a series of roundtables that Financial Insights organizes around the region. In addition to the viewpoints of local and foreign banks in the country and their technology strategies, this report presents a deeper examination of risk management, echannels, customer analytics, and core banking initiatives by the participating institutions. Abhishek Kumar, senior research analyst, Asia/Pacific Banking Advisory Service, states, "As an economy with significant growth potential, Vietnam's banks are understandably optimistic about economic recuperation, anticipating that the process of recovery will begin by the end of 2010. As such, local banks are increasing IT expenditure and seeking to grow their customer bases by enticing potential customers through increased convenience and better service quality expected to be brought on through investments in echannels and customer analytics." He concludes, "Despite such optimism, Vietnam's banks are still hindered by a lack of guidance, especially in the area of technology. Banks are currently dependent on some form of a crutch, whether it be IT vendors for expertise or the State Bank of Vietnam for regulatory guidance. Only once local banks gain greater mastery of their technology can they gain the independence and confidence to boldly and aggressively carry out their business strategies." |
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