tailieunhanh - Developing Open banking in Vietnam: Opportunities and challenges

In recent years, the fourth industrial revolution has been progressing strongly, resulting in numerous accomplishments that have profound implications for various industries and sectors of the economy, including the banking sector. In the context of the digital transformation boom, traditional banking models have undergone modifications and advancements with the aim of boosting competitiveness and efficiency, leading to the emergence of the Open banking . The open banking concept represents a relatively optimal business model in line with the trends and demands of the digital era, allowing banks to expand their operations by offering digital products and services conveniently, comprehensively, cost-effectively, and reaching a more diverse customer base, both domestically and internationally. | TAØI CHÍNH DOANH NGHIEÄP Taäp 02 2024 Developing Open banking in Vietnam Opportunities and challenges Nguyễn Ngọc Mai Trịnh Như Hồng Nhật - CQ59 I n recent years the fourth industrial revolution has been progressing strongly resulting in numerous accomplishments that have profound implications for various industries and sectors of the economy including the banking sector. In the context of the digital transformation boom traditional banking models have undergone modifications and advancements with the aim of boosting competitiveness and efficiency leading to the emergence of the Open banking . The open banking concept represents a relatively optimal business model in line with the trends and demands of the digital era allowing banks to expand their operations by offering digital products and services conveniently comprehensively cost-effectively and reaching a more diverse customer base both domestically and internationally. What is open banking In the traditional business model banks typically manage and safeguard information by storing all transaction data and customer account details. In contrast open banking allows banks to utilize and share their customers financial data including transactional histories and account details with third parties such as other financial institutions Fintech companies or electronic payment services through Application Programming Interface API . This sharing is carried out with the customer s agreement. The main objective of open banking is to promote competition encourage the development of financial services and improve the customer experience. It enables third parties to use the shared data to create solutions that assist individuals in more conveniently managing their finances conducting transactions and accessing financial information. Open banking operates under government regulations to ensure privacy and data security. This model must strictly adhere to data protection laws and security standards to safeguard .

• Ngân hàng - Tín dụng
• Open banking
• Tài chính kế toán
• Tài chính doanh nghiệp
• Developing Open banking in Vietnam
• Open banking operate
• Benefits of open banking
• Financial organizations
• Lecture Money and Banking
• Bài giảng Tiền tệ và Ngân hàng
• Money and Banking
• The monetary base
• Open market operations
• Foreign exchange intervention
• Giáo dục đào tạo
• giáo trình cao đẳng đại học
• Open banking Architecture
• Business Demand & Trends
• architecture approach
• The economics of money
• Financial markets
• Thị trường tài chính
• Bài giảng Tiền tệ ngân hàng
• Money supply process
• Open Market Purchase