Developing digital financial products and services in Vietnam

Abstract

The digital transformation plan of the Ministry of Finance issued under Decision No. 1484/QD-BTC
dated July 27, 2022, sets the goal of establishing a modern, public and transparent digital financial platform
which based on big data and open financial data by 2025 and creating a digital financial ecosystem tied
to specific targets to bring satisfaction and consensus to beneficiaries by 2030. To achieve this goal, the
development of digital financial products and services is the core content that needs to be promoted in both
quantity and quality The article uses qualitative analysis methods on statistics from previous reports and
studies, the article focuses on analyzing the current situation of mobile money (Mobile Money) development,
the digital platform ecosystem (Platform eco-systems) and open payment application programming
interface (API) in Vietnam. From the actual results, the authors make some assessments and propose
solutions to further promote the development of digital financial products and services in the future