THE IMPACT OF FINTECH ON THE BUSINESS MODEL OF BANKS IN VIETNAM

This research focuses on clarifying the impact of Fintech on Vietnam's banking sector by analyzing both theoretical and practical aspects of Fintech, while also examining the relationship between financial technologies and banking operations in the context of digital transformation. The research has compiled statistical data on the growth of Fintech and the changes in banking business models before and after the Fintech boom. Furthermore, the study identifies factors influencing the sustainable development of the banking industry in the digital era, including technological innovation, regulatory frameworks, risk management capabilities, and the trend of collaboration between banks and Fintech firms for mutual growth. Finally, based on the theoretical and practical foundations established, the research proposes several policies and solutions to help Vietnamese banks adapt to the evolving digital financial market. Investing in technology, enhancing cybersecurity capabilities, refining regulatory frameworks, and fostering stronger collaboration with Fintech companies are key strategies to ensure that traditional banks not only survive but also thrive in the digital age. These solutions will serve as the foundation for Vietnam's banking sector to continue innovating, optimizing operations, and fully leveraging the benefits of financial technology in the future.