Comprehensive digital transformation in internal management saves BIDV over 700 billion VND annually

Proactively pursuing comprehensive digital transformation in operations

According to Mr. Le Ngoc Lam, with Resolution 57 of the Politburo, the country is entering a new era with new development drivers such as innovation, science and technology development, and digital transformation, which have also become key factors determining the competitiveness and important growth drivers of the economy.

Mr. Le Ngoc Lam, General Director of BIDV, speaking at the conference

In line with Resolution 57 and the State Bank of Vietnam's action plan, BIDV has issued strategies on information technology, data and AI, and a science and technology - innovation - digital transformation action plan for 2030, with a vision to 2045. This contributes practically to the national digital transformation process. In fact, over the past period, BIDV has actively participated in the implementation of public administrative services under Project 06; partnered with tax authorities in implementing the tax transformation program for business households and small traders; and popularized "Digital Literacy" among its officers, employees, and customers.

Recognizing the particularly important role of digital transformation and scientific and technological development in the current context, while also being aware of the responsibilities of a large financial institution that plays an important role in the country's economy, BIDV has proactively implemented digital transformation in its activities with a new mindset, new thinking, and new approaches, and has initially achieved important digital transformation results.

Reporting at the conference, BIDV leaders stated that, in terms of internal management, the bank is steadfast in its goal of moving from a paperless office to comprehensive management and administration on a digital platform. Since 2014, BIDV has deployed many electronic office platforms. However, practice has shown that these systems are fragmented and difficult to integrate; they cannot handle complex process flows; and they do not achieve the goals of a paperless office and substantive digital management.

After successfully launching the new Corebanking system in September 2023, BIDV confidently made a strategic decision to build its own internal management platform with a spirit of technological autonomy, operational mastery, and innovative creativity.

In July 2024, BIDV officially launched the B.One system - a comprehensive internal management platform, marking a fundamental shift from manual management to digital management. B.One is designed as a unified Digital Workplace, comprising six functional spaces: task and document processing; digital legal; administration; internal communications; knowledge learning; and 360-degree human resources.

Saving over 700 billion VND annually

For the first time at BIDV, all documents, tasks, knowledge repositories, and data are reviewed, tracked, monitored, and integrated on a single platform. All business processes, from branches to the board of directors, are fully digitized and can be processed 24/7 - anytime, anywhere, on any device; progress/quality of work can be measured and evaluated. As a result, task processing time has been reduced from days to minutes, even seconds; saving BIDV approximately VND 700 billion per year, significantly reducing printing, storage, and transportation costs; and promoting the transition to a paperless green office.

Notably, B.One is the first platform to integrate professional work and Party and Youth Union work on a single digital system: serving more than 28,000 officials at the Head Office and nearly 200 branches; 251 Party branches/Party committees, and 231 Youth Union bases; processing an average of nearly 2,500 tasks and nearly 2,850 documents per day. In the coming period, the system will be developed to integrate AI virtual assistants to better serve and support BIDV officers.

These figures initially show that the system is being used effectively, directly contributing to the achievement of the SBV's goal in Decision 810/QĐ-NHNN dated May 11, 2021, which is "By 2025, at least 70% of work files at credit institutions will be processed and stored in a digital environment." It also practically contributes to the implementation of Resolution 57 of the banking sector.

Based on practical implementation, the General Director of BIDV made a number of proposals to promote the development of science and technology and digital transformation of credit institutions and the banking industry in the coming period.

Specifically, BIDV hopes and proposes that the State Bank of Vietnam (SBV) continue to build and standardize shared data across the sector, creating a foundation for connectivity, interoperability, and the development of national financial banking ecosystems and digital services.

In addition, it is necessary to promote data-driven banking management, encourage credit institutions to invest in data infrastructure, digital platforms, and new technologies for operations and risk management, ensuring the security and safety of the banking information system. Developing digital human resources is a key factor, requiring mechanisms for training, retaining, and attracting technology, data, and cybersecurity personnel for the banking industry.

In particular, given the current complex cybersecurity landscape, BIDV proposes that the State Bank of Vietnam consider researching a reporting mechanism that allows commercial banks to set up an information technology risk reserve fund to address unforeseen risks during the operation of information technology systems and electronic transactions with customers.

Nhom PV