The Hanoitimes - E-banking service is promising in Vietnam, experts said at the Vietnam Retail Banking Forum 2016 held in Hanoi.
E-banking means Internet banking or modern banking or online bill. In this method, customer gets his bank account ID and password and he can check his account, pay his bill and print his receipt through his home personal computer which is connected with Internet. E-banking is development of today banking system. In other words, e-banking is electronic banking whose facility, you can take through your regular broadband Internet connect.
According to a 2015 research of the Business Monitor International, Vietnam’s Internet users grew at an average annual rate of 9 percent, ranked 15th worldwide. The country has a younger population compared to other nations in the region, with Internet penetration rate reaching 52 percent of the population. Local banks said some 44 percent of their customers use banking services, which are expected to account for 44 percent of total banking revenue by 2018.
Tran Nhat Minh, Deputy CEO and Chief Digital Officer of the Vietnam International Bank (VIB), said major challenges facing digital banks relate to a change from the traditional business culture, running costs and technology foundations.
Sujeeth Samrat, a banking senior adviser, said the point is how to attract customers to online services and to better meet their demand. Each bank need to develop a business strategy that work best for its technologies, database and business model, he noted. He also suggested cooperation between banks and retailers to boost the diversity, convenience and safety of their products.
However, hacking, spyware program, computer virus and breaking online password are the weakness of e-banking or online banking. Online big hackers are using computer virus and after spreading it, they compromise your computer. After this, they know all detail of your computer and banking password and illegally transfer all your money. Next day, your bank account may be zero. Even you can stop this crime by writing strong password but you can not remove it totally.
By Tuan Minh