The intersection of cloud computing, artificial intelligence (AI), and big data is revolutionizing industries worldwide, especially in the financial services sector. This shift was the focal point of a conference held at the Meliá Hotel in Hanoi on April 10. Organized by the Vietnam Banks’ Association (VNBA) and PwC Vietnam, in collaboration with Amazon Web Services and Alation, the event explored the evolving role of these technologies in shaping the future of banking.
Cloud Adoption in Financial Institutions
According to PwC’s 2023 Digital Banking Survey, more than half of the surveyed banks (60%) have already adopted cloud technology or are in the process of transitioning to the cloud. An additional 30% of banks are in the early stages of exploring cloud solutions. This trend reflects the industry’s push to modernize its infrastructure, improve scalability, and enhance business resilience through cloud computing.
AI’s Growing Role in Finance
PwC’s 2025 Global Compliance Survey also highlighted the increasing integration of AI in the financial sector. The survey found that 78% of organizations in the sector are either planning or already using AI for data analysis and predictive analytics. AI is also being leveraged for fraud detection and compliance monitoring by 67% of firms. These statistics emphasize AI’s expanding role in streamlining processes, improving risk management, and enabling data-driven decision-making.
Conference Highlights: Innovation and Trust
The conference provided valuable insights into the practical application of cloud solutions, AI, and data governance in the financial sector. Discussions focused on the importance of fostering trust between financial institutions and their customers during digital transformations. Building a strong foundation of trust is critical to ensuring the long-term success of digital initiatives.
In his opening address, Nguyen Thanh Son, Director of the VNBA Training Centre, underscored the pivotal role of data in driving innovation in financial services. He noted that banks hold a wealth of sensitive customer data, which makes them key players in adopting technologies like big data, AI, and machine learning. However, managing and processing this vast amount of data presents significant challenges, particularly regarding data privacy and quality control.
A Platform for Knowledge and Collaboration
Son emphasized that the conference served as a platform for knowledge exchange, helping financial institutions understand the latest developments in cloud computing, AI, and data solutions. It also provided a space for experts, developers, and business partners to collaborate and strengthen the digital ecosystem within Vietnam’s banking sector, contributing to the growth of the digital economy.
Data Privacy and Governance
One of the key topics of the event was the delicate balance between data privacy, regulatory compliance, and the efficient use of advanced technologies. Experts discussed how financial institutions can implement modern data governance practices that build trust and ensure accountability in AI applications.
Pho Duc Giang, Partner of Digital, AI, and Cybersecurity Services at PwC Vietnam, emphasized that leveraging data through cloud and AI technologies can drive operational efficiency, innovation, and improved risk management. Giang also pointed out that for financial institutions, establishing strong data and AI governance frameworks is crucial to ensuring responsible and ethical use of these technologies.
Building Trust in an AI-Driven Future
The conference concluded with a shared vision for the future of banking, where cloud computing, AI, and big data will continue to reshape how financial services operate. With the right governance practices in place, these technologies can unlock new opportunities for innovation while ensuring transparency, security, and trust.
By fostering collaboration between industry players, technology developers, and regulatory bodies, the event reinforced the importance of creating a secure and sustainable digital ecosystem in the financial services industry. This will ultimately help financial institutions thrive in an increasingly digital world.
Related Topics:
South Korea to Inject 9 Trillion Won in Export Financing Amid Trade Tensions
House Passes Resolution to Block CFPB Overdraft Rule, Sends It to Trump
