In recent years, the Government of Vietnam has actively pushed digital transformation in finance through policies like Project 06—a collaboration between the Ministry of Public Security (MPS) and the State Bank of Vietnam (SBV) to leverage citizen data and e-identification, plus Circular 50, mandating biometric identification and authentication.

A global PwC report notes that AI could boost efficiency in finance and banking by nearly 40 percent, cutting costs and enhancing customer experience. A Gartner report showed that over 90 percent of global bank leaders see AI as an investment priority through 2027, affirming its strategic role in financial digital transformation.

At a seminar on AI applications to boost finance sector capacity, Vu Thanh Tung, Product Director at GreenNode, said that AI isn’t just a story about tech but a tool for real customer value, from improving user experience, to curbing fraud, to optimizing operations. He believes that with Vietnam’s existing technical foundation, its firms are capable of developing breakthrough solutions in the field, such as smart document processing and e-identification.

Nguyen Hoang Minh, chief representative of the Vietnam Banking Association in HCM City, affirmed that AI is key to banking breakthroughs in the digital age. Yet, it demands long-term strategy and methodical investment.

From the perspective of a tech firm, Le Hong Minh, VNG Founder and Chair, said the company pivoted to AI in early 2023, recognizing its potential for deeper change than any prior trend.

"AI is vast, but marshaling resources and building concrete products remains tough," Minh said.

He shared VNG’s core stance: "Only by doing do we truly grasp it. If we just sit and conduct research, this will be just like facing a boundless ocean with no path."

Since mid-2023, VNG has launched a series of activities related to AI, including developing GreenNode, one of Southeast Asia’s top GPU platforms and serving global clients. It also invested in two teams to build large language models, tracking open-source trends for fine-tuning to boost practical use.

VNG is also crafting AI-support platforms for internal and customer needs. Next, it urges all business units to adopt AI.

"Our rule is to act—do lots, even small tasks. The key is whether customers use it, while we do not target instant profit," Minh said.

By late 2024, about 20 percent of Zalo users had engaged with AI features. VNG aims to double the figure by late 2025. The firm encourages all staff—from gaming to finance—to test AI in their products.

Minh sees AI as a long haul, requiring patience over quick gains. "We don’t aim to rival OpenAI or Elon Musk’s breakthroughs, but persistent application, learning, and refining can yield real value," he said.

He also said that he personally aims for every job in 2024 and 2025 to be related to AI, and expects this spirit to spread throughout the organization.

“If every individual proactively applies AI, I believe it will create a wave of change – not only in Vietnam but globally,” he concluded.

Finance and insurance companies’ leaders also say AI is vital for business survival.

Truong Huu Loc from Papaya said previously it took 7-12 days to with an insurance claim and approve compensation, but applying AI to automate claims cuts the process to just 1 day.

“The first step in applying AI at Papaya was streamlining claims intake and approval. Our competitive edge is automating the dealing with claims. Papaya has become the market’s fastest claims settler—all thanks to AI in claims handling and approval," Loc explained.

On boosting finance sector capacity through AI, Nghiem Si Thang, Director of Banking and Finance Solutions at Galaxy Technology Services, said Galaxy focuses on tech-specialized subsidiaries, building a large ecosystem to cover all fields. Galaxy has prioritized a banking platform for the entire group. 

Centering on customers, it has gradually developed systems to meet multi-industry, multi-profession transaction needs. Personalizing customer experience is key, and AI is essential for this.

"We started with a payment system, using AI to process transaction records, achieving a key success in automation. AI also aids credit scoring, lending, and ultra-fast payments. Plus, it’s critical for enhancing security, distilling data, optimizing decisions, and improving efficiency," Thang noted.

Andy Tran, Chief Financial Officer of Zalopay, said in developing financial products, especially lending, Zalopay built a credit scoring and loan decision solution, serving about 3 million of its 16 million users. By early this year, that number hit 7 million, showing AI’s success in optimizing lending.

Trong Dat