In recent years, the Vietnamese government has been actively promoting digital transformation in finance through policies such as Project 06. It utilizes cooperation between the Ministry of Public Security (MPS) and the Vietnam Bank (SBV), as well as citizen data and electronic identification, and uses 50 round 50 to mandate biometric identification and authentication.
According to the Global PWC Report, AI can improve financial and banking efficiency by nearly 40%, reduce costs and improve customer experience. Gartner reports that over 90% of global banking leaders consider AI as an investment priority until 2027, identifying its strategic role in financial digital transformation.
At a seminar on AI applications, Vu Thanh Tung, Product Director at Greennode, said that AI is not a story about technology, but a tool for real customer value, from improving user experience to suppress fraud and optimizing operations. He believes that Vietnam’s existing technology foundation will allow the company to develop groundbreaking solutions in the field, such as smart document processing and electronic identification.
Nguyen Hoang Minh, Chief Representative of the Vietnam Banks Association in HCM City, confirmed that AI is the key to banking breakthroughs in the digital age. But it requires long-term strategy and systematic investment.
From a tech company perspective, VNG founder and chairman Le Hong Minh pivoted on AI in early 2023, saying he is aware of the potential for a deeper change than previous trends.
“AI is huge, but marshalling resources and building concrete products remains tough,” Min said.
He shared the core attitude of VNG: “We only have to grasp it. If we just sit and do research, this is like facing an endless ocean with no paths.”
Since mid-2023, VNG has launched a range of AI-related activities, including developing Greennode, one of Southeast Asia’s top GPU platforms, and servicing global clients. We also invested in two teams to build large language models and track open source trends in fine-tuning to promote practical use.
VNG is creating an AI-Support platform for internal and customer needs. Next, encourage all business units to adopt AI.
“Our rule is to act. Even a lot of small tasks are whether the customer is using it, but they don’t target immediate profits,” Minh says.
By the second half of 2024, approximately 20% of Zalo users were engaged in AI functions. VNG aims to double the numbers by the second half of 2025. The company encourages all staff, from gaming to fundraising, to test the AI of their products.
Minh considers AI to be long-term and requires patience for quick profits. “We don’t aim to rival the breakthroughs of Openai or Elon Musk, but sustainable applications, learning and purification can bring real value,” he said.
He also said he personally aims to make all his work in 2024 and 2025 AI related and hopes that this spirit will spread throughout the organization.
“I think if all individuals are actively applying AI, it will create a wave of change not only in Vietnam but worldwide,” he concluded.
Financial and insurance leaders say AI is essential for the survival of their business.
Papaya’s Truong Huu Loc previously said it took 7-12 days to approve insurance claims and coverage, but applying AI to automate claims reduced the process by just one day.
“The first step to applying AI in Papaya was to streamline the intake and approval of claims. Our competitiveness is to automate the transaction of claims. Papaya has become the fastest claim settler on the market thanks to its AI in handling and approval.
By increasing the financial sector’s capabilities through AI Nghiem Si Thang, director of banking and financial solutions at Galaxy Technology Services, Galaxy said it is focusing on its technical specialist subsidiary and creating a large ecosystem to cover all sectors. Galaxy prioritizes the group-wide banking platform.
It was gradually developed to meet the needs of multi-industrial multi-professional transactions, focusing on customers. Personalizing your customer experience is important and AI is essential to this.
“We start with a payment system and use AI to process transaction records to achieve key successes in automation. AI also supports credit scoring, lending and ultra-fast payments.
Zalopay’s Chief Financial Officer Andy Tran says that, especially in lending development, Zalopay has built credit scoring and loan decision solutions, serving around 3 million of its 16 million users. By the beginning of this year, the number had reached 7 million, and AI had managed to optimize its loans.
Tron Data
