BUV’s lecturer shares expert insights into data strategy and the future of smart banking at the World Financial Innovation Series 2025

Joining the leading fintech experts in Vietnam, Dr. Dang Quang Vinh – lecturer from the School of Computing & Innovative Technologies at BUV – delivered key insights into data culture that transforms the future of banking, as well as provoking thoughtful discussions on the implication of biometrics evolution to user experience.

On April 15–16, 2025, the World Financial Innovation Series 2025 (WFIS 2025) took place in Hanoi, bringing together over 500 technology and business leaders from leading banks, insurance companies, and finance institutions across Vietnam. Co-organised by the Vietnam Banks Association (VNBA) and Tradepass, WFIS 2025 revolved around the theme of “Transforming Vietnam’s Financial Revolution” aimed to accelerate digital transformation in the financial sector and foster a sustainable fintech ecosystem in the country.

WFIS 2025 brought together over 500 technology and business leaders from leading banks, insurance companies, and finance institutions across Vietnam.

In response to the National Digital Transformation Program to 2025, with orientation to 2030, most commercial banks have developed digital transformation strategies and launched services on digital platforms, enhancing the customer experience with banking products and services. In this context, Dr. Dang Quang Vinh’s input, both as a lecturer at BUV’s School of Computing & Innovative Technologies and as the AI Director of TymeX, sheds light on the key to effective integration of new technologies for operational excellence, as well as the implications of digital transformation for customer experience and data security concerns.

Biometric Authentication and Cybersecurity in Finance: Striking the balance between innovation and security

During the discussion called Biometrics to the Rescue: Shielding Vietnam’s Banks from Deepfakes chaired by Dr. Dang Quang Vinh, the panel of banking experts from HSBC and Standard Chartered delved into one of the most pressing issues facing the financial sector: how to embrace advanced technologies like biometrics and AI while safeguarding user data and maintaining public trust.

Dr. Dang Quang Vinh (to the right) at the panel discussion on “Biometrics to the Rescue: Shielding Vietnam’s Banks from Deepfakes”.

The panel acknowledged that the rise of biometric authentication, such as facial recognition and fingerprint scanning, has introduced powerful tools to replace outdated methods like OTPs and passwords, ensuring a smoother experience. However, the growing sophistication of AI and deepfake technologies is enabling attackers to spoof biometric traits, posing a serious threat to authentication systems. At the same time, Vietnam’s legal framework has yet to fully catch up with these developments, creating uncertainty around how biometric data can be collected, stored, shared, or deleted.

Under the guidance of Dr. Vinh, the speakers discussed the ways to navigate this time of change, considering both security risks and user experience in mind. Mr. Phil Wright, Chief Operating Officer at HSBC, emphasized the importance of continual improvement in cybersecurity to ensure trust within the sector, “A Dartmouth study warns that by 2026, nearly 30% of organizations may lose trust in biometrics due to deepfakes. That’s a wake-up call—biometric security isn’t one-and-done. It requires continuous innovation and collaboration. Banks should share data on fraud trends and work together to stay ahead”.

Mr. Phil Wright, Chief Operating Officer at HSBC, speaking on the importance of continual evolution in biometrics.

Meanwhile, Ms. Nguyen Ngoc Lan Anh, Chief Technology & Operations Officer at Standard Chartered Bank (Vietnam), stated that a collaborative effort must be made across entities to strike a balance between security and experience, “I agree on the importance of consistent collaboration between banks, service providers, associations, and regulators. When it comes to biometrics, it’s not just about technology; it’s about identity, data, and privacy. A shared vision is key, especially as global banks operate in diverse markets where a one-size-fits-all approach doesn’t always work. That’s why industry associations and cybersecurity agencies play such a vital role in ensuring alignment and resilience.”

The key to building a data culture that drives smart banking

In the session titled Smart Banking: Leveraging Big Data for Operational Excellence, Dr. Vinh spoke on how financial institutions can optimize performance through intelligent data strategies.

Dr. Vinh emphasized the need for a comprehensive approach to fostering a strong data culture in financial organisations, “To build a strong data culture and mindset, it is essential to adopt a dual approach. The first is a bottom-up strategy, which focuses on creating small but impactful changes—so-called ‘quick wins’ that allow users to immediately see the value of applying technology. The second is a top-down approach, which requires strong commitment and effort from leadership to set clear directions and drive implementation across departments. Only when both approaches work in tandem can an organization successfully establish a sustainable data-driven mindset and culture.”

Dr. Dang Quang Vinh speaking on the approach to fostering a strong data culture in financial organisations.

Alongside advancements in emerging technologies that drive smart banking, the importance of fostering a data-driven culture within financial institutions was widely recognized.

Ms. Nguyen Thuy Linh, Deputy Chief Digital Officer at MBBANK, shared the concern of organisations when integrating AI into operations, “When people first interact with AI, there’s often a sense of fear of being replaced. But AI and data are no longer something novel; they’ve become the new norm, setting fresh standards for how we operate. The real question now is how to best combine AI, automation, and human capability”.

As WFIS 2025 draws to a close, the participation of Dr. Dang Quang Vinh from BUV underscores the university’s growing influence in the nation’s financial innovation landscape. By contributing academic expertise to discussions on smart banking and data strategy, BUV is playing a pivotal role in bridging the gap between academia and industry, thereby contributing to Vietnam’s vision of becoming a leading fintech hub in Asia.