Most Vietnamese banks are still struggling to comply with the banking authority’s regulations related to digital transformation, particularly those concerning the management of third-party risks.

Vietnam’s fintech firms secured two of the top three largest funding deals in ASEAN in 2019.

For banks in Vietnam, data governance is an important step to realize the vision of becoming a leading data-driven bank, said a PwC expert.

In addition to being positive on cross-border investment, 62% of respondents in Vietnam expect to increase their domestic investment in the next 12 months, higher than other economies such as China, Japan and Singapore.

PwC’s analysis showed that opportunities for cash release from working capital in the fiscal year 2018 would be more than US$11 billion.