Vietnam seeing the fastest digital banking adoption in the region

Vietnam has been assessed by McKinsey Global Management and Consulting Company as having the fastest digital banking adoptioin in the region last year. The State Bank of Vietnam has said it will continue to improve mechanisms, policies, and the legal framework, including the Law on Credit Institutions, the Law on the State Bank of Vietnam, and a sandbox mechanism for the controlled testing of financial technology (fintech) activities in the banking sector, as well as regulations to facilitate the application of digital technology.