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Vietnam banks demeanour to daub into large data

Customers exam out Timo, a VPBank-back digital banking app.Vietnamese banks are looking to daub into large information (Photo:

Hanoi (VNA) – To successfully deploy
big information in a banking sector, there contingency be a extensive plan using
professional teams who have low bargain of both financial and technology,
said Nguyen Kim Anh, Deputy Governor of a State Bank of Vietnam.

At a new contention in Hanoi, Anh said
that digital information was apropos a new apparatus and large information was personification an
important purpose in a banking and financial sectors.

The conference, patrician “Big information for banking and
financial industry,” was organized by a Banking Academy of Vietnam.

At a workshop, participants focused on big
data record from a accumulation of perspectives. They discussed a latest
technology and ways for banks and financial institutions to optimise the
application of large information into information systems.

Through a discussion, experts common hopes
that they could brand a opportunities and hurdles of large information to
improve a productivity, peculiarity and potency of financial and banking

The fourth industrial series is holding place
across a creation and carrying a clever impact on all aspects of socio-economic
life, according to a experts. It promises to emanate some-more opportunities and an
impetus for a republic growth of any republic or organisation.

The fourth industrial series with Internet
of Things, automation and synthetic comprehension has brought digital information to
the centre of a business world.

Digital information had turn a really important
resource from that businesses can beget income and yield new application
ecosystems, services and digital products, pronounced Anh.

“Therefore, digital information will grow and turn an
important attention in a fourth industrial revolution,” he added.

At a workshop, a emissary administrator also said
that a specificity of banking is formulating a outrageous volume of information from
structured information such as transaction histories and patron annals to
unstructured information such as patron activities on Internet and mobile banking

“Applying large information to feat a information will
bring poignant rival advantages and potency for a banking and
finance sectors,” he added.

In addition, Pham Anh Tuan, executive of
Vietcombank’s tech modernisation department, pronounced that information in a banking
system and those collected from a outward embody many types. These include
structured data, semi-structured data, and unstructured data.

“The stream banking information is unstructured,
which meets all large information standards in volume, transformation and diversity,” Tuan

The deputy of Vietcombank also pronounced that
when banks as good as financial institutions brand information with good value,
they contingency cruise information resources of a bank. “In other words, information contingency be
treated like any bank assets, that have to be taken caring of and ensured on
asset security.”-VNA

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