Retail Banks in Vietnam: Factors to decide success

The ASEAN Bankers Forum 2011 opened on Wednesday in Vietnam’s southern Ho Chi Minh City under the theme, “Retail Banks in Vietnam: Factors to decide success and the role of technology in building up advantages”, according to the Vietnam News Agency.

Organized by the Vietnam International Data Group (IDG Vietnam), Vietnam Banks Association and Deposit Insurance of Vietnam, the 2- day forum was attended by bank leaders, information technology (IT) banking directors, experts in finance and managers of companies to supply IT solutions for banks, from India, Japan, Thailand, Singapore, Cambodia, Laos and Vietnam.

Participants reviewed the general picture of the retail banks and the IT banking trend in 2012 and changes of the banking IT infrastructure towards the services trend. They also shared awareness about clients and solutions to secure the banking system so as to improve the product quality of retail banks.

Reports presented at the forum stressed on the importance of IT in modernizing the banking infrastructure, as well as strategies and demands on IT infrastructure aimed at developing the retail banking market.

According to Vu Viet Ngoan, chairman of the Vietnam National Financial Supervisory Committee, Vietnam is seen as a potential retail market with a population of 85 million.

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