Online banking has become more popular in Vietnam as it helps customers make transactions within minutes with a networked computer or mobile device at anytime and anywhere.A recent study from CB Richard Ellis Vietnam (CBRE Vietnam) shows that 25% of surveyed consumers plan to reduce the frequency of shopping at traditional stores, while 45-50% of respondents said they will shop online via computer or smartphone/tablet more often.
With more than 60% of the population using the Internet, Vietnam is a potential market for applying electronic payment tools or integrating information technology applications into the banking system through online banking services.
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In addition, online shopping is present in daily life as there are more and more social network users of Facebook and Vietnamese-developed Zalo.
Online banking services meet the diverse needs of customers almost immediately, such as transferring money; looking up the account balance; paying monthly bills for electricity, water, telephone; shopping for goods through electronic payment gateways. Just a networked smart phone or computer, consumers’ needs are responded quickly.
Moreover, consumers can save and borrow online without going to the point of transaction to be served. When there is a need to transfer cash, users can make easy and fast through internet banking.
It can be said that online banking is a revolution for banking users in Vietnam. Simple transaction processing, cost saving, time saving for both customers and banks are the basis that ensure the potential growth of online banking.
