The Open Banking 2023 conference is scheduled to be held in Hanoi on December 7 with the theme of transiting business models from closed to open mode.

The conference will be hosted by VnEconomy / Vietnam Economic Times and partners.

This is the first ever workshop to discuss the standardization of open banking on a large scale.

Participants will include experts and representatives from the State Bank of Vietnam, the Ministry of Information and Communications, and major financial institutions.

Discussions will focus on the need to establish a set of standards for open banking, the role of management agencies, and the legal corridor and risk recognition and prevention.

The open banking model has been successfully implemented in many regions and countries such as Europe and the US and has had a positive impact on GDP growth.

Certain banks in Vietnam have begun to gain access to the new business model, transiting from a closed model to a partially open model.