World’s experience on digital transformation in commercial lending

Abstract

In the context of the industrial revolution 4.0 along with the strong development of information technology, digital transformation in commercial lending of banks around the world has become a mainstream trend and the banking industry in Vietnam is no exception to this trend. Digital lending is changing banks from inside by faster credit decisions, lower cost and more secure loans. From observing the experiences of countries around the world, the article analyzes the benefits and risks in digital lending that may be encountered by commercial banks. On this basis, the author offers appropriate recommendations to comprehensive expansion of digital lending in Vietnam.