International Practices in Developing Digital Services and Implications for Vietnam

Digital banking services are increasingly playing a crucial role in the development of the overall economy, and particularly in the financial and financial services markets. Especially in the post-COVID-19 context, public interest and consumer acceptance of digital products and services have grown significantly, contributing positively to the expansion of financial service coverage in digital finance markets. Against this backdrop, learning from international financial markets where digital banking services have been successfully developed offers significant implications for emerging markets like Vietnam to identify effective and appropriate strategies to accelerate digital banking development. This paper analyzes the development of digital banking services in four prominent Asian countries - South Korea, China, and India. The findings emphasize the importance of improving legal frameworks, promoting investment in digital payment infrastructure, and enhancing the technological capabilities of Vietnamese commercial banks (particularly in AI, big data, and service digitization) to improve efficiency and expand financial inclusion. The study also presents an up-to-date overview of the state of digital banking in Vietnam.