On the morning of 12th June 2018,the Workshop:” Revolution 4.0 and innovations in the field of Finance - Banking” jointly organized by School of Banking and Finance, National Economics University and Paris Graduate School of Management (PGMS), University of Paris, took place at NEU.
Attending the workshop, there were Mr. Nguyen Dinh Thang - President of Lien Viet Post Bank, Mr. Du Xuan Vu - Director of Technology Division, Orient Commercial Bank, Ms.Bui Thi Thanh Huong - Vice Director of Tien Phong Bank; Dr. John Vong - Senior Advisor at University of Paris, Mr. Le Anh Dung - Representative of Payment Department of State Bank Vietnam, Ms.Nguyen Thi Phuong Thao - Business Development Manager of SSI, Mr. Nguyen Minh Tuan- Relation Director of Samsung Vietnam, Mr. Do Minh Tri- Business Director of ITC company. On behalf of NEU, there were Assoc. Prof. Dr. Tran Thi Van Hoa - Vice Rector of NEU, Prof. Dr. Nguyen Van Nam - Former Rector of NEU, and representatives of other socio-political organizations, head of faculties, institutes, departments, centers, lecturers and students.
The organizers of Workshop includes Assoc. Prof. Dang Ngoc Duc - Director of School of Banking - Finance, Assoc. Prof. Tran Dang Kham - Vice Director of School of Banking - Finance, Dr. Dang Anh Tuan - Vice Director of School of Banking-Finance, Ms. Pham Thi Thu Hang- Chief Representative of PGSM Vietnam and lecturers of School of Banking - Finance.
At the workshop, Assoc. Prof. Dr. Tran Thi Van Hoa emphasized the strongly growing influence of industrial revolution 4.0 on our life in various aspects. The world is witnessing the wave of breakthrough technology such as Artificial Intelligence, Big Data, Cloud Computing, Automation and Blockchain. Banking and finance sector is the one of the leaders in applying technology in developing superior products. Although Fintech has been providing many opportunities, it also poses many challenges to banks and financial institutions.
The workshop has attracted attention from many experts and writers, thus, 50 articles were submitted, of which 34 were selected and published in yearbook. These articles have clarified those issues related to Industrial Revolution 4.0 and the impact of this revolution on Banking- Finance sector. It has transformed the business and management models from traditional to digital. However, cyber security risks become larger as the digital connection expands. Thus, financial market infrastructure, especially payment system needs to keep up with the pace of change in technology, and the personnel also need to be more proficient and efficient in their expertise.
With face pace of innovation, open and diverse ecosystems, cross-border connectivity, Fintech has helped banks reduce cost, improve efficiency in product/service distribution, empower customers so that transaction with financial service providers can be more direct, fast and flexible. Also, Fintech helps financial institutions increase their value and customer experience by analyzing customer data to understand their demand and behavior better. Further, it narrows the gap between capital mobilization and lending for corporate customers, especially in emerging markets. Besides, Fintech poses challenges to financial institutions in innovating, adapting and growing sustainably in digitalization era.