Vietnam’s banking industry is facing an urgent need for technological talent, with projections estimating a requirement of 750,000 tech-savvy professionals by 2026. The figure was revealed at the Banking Human Resources Forum for the Technological Era held on July 16 in Hanoi.

Pham Tien Dung, Deputy Governor of the State Bank of Vietnam, emphasized in his opening speech that the sector is experiencing an unprecedented demand for IT security personnel and digital experts. As digital transformation accelerates, nearly every aspect of banking - from customer engagement to internal management - is being restructured.

In 2017, only 31% of Vietnamese adults had bank accounts. That figure has now surged to 87%, equating to approximately 200 million deposit accounts. Daily financial transactions across the banking system range between 50 to 100 million, reflecting the scale and complexity of the digital infrastructure now in place.

More than 90% of banking services today are performed digitally. Banks have had to establish data departments equivalent in importance to credit departments. This shift demands a new breed of workforce that combines technical knowledge with financial expertise to build smart, responsive operational systems.

Speaking at the event, Deputy Minister of Science and Technology Bui The Duy noted that with new technologies emerging every six to twelve months, training must be continuous and agile. He identified key fields such as fintech, digital assets, blockchain, and artificial intelligence (AI) as strategic focuses that Vietnam must develop to remain competitive.

Duy also emphasized that traditional IT knowledge is no longer enough. Bank IT staff need to understand and adapt to evolving platforms such as blockchain and AI. Moreover, cybersecurity skills must be viewed not merely as technical expertise, but as part of daily operations involving passwords, OTPs, and the detection of phishing or spoofing attempts.

Financial experts and educators echoed concerns about the shortage of skilled professionals. Assoc. Prof. Dr. Pham Thi Hoang Anh, Deputy Director of the Banking Academy, stressed that this shortfall is already hindering the pace of digital adoption across the sector.

Dr. Le Xuan Nghia, a well-known banking expert, argued that technologies like AI and blockchain are not optional trends but represent a defining feature of the digital age. He warned that if Vietnam delays investing in tech-focused education, it risks being left behind.

Economist Nguyen Tri Hieu warned that digitalization brings its own challenges. These include cybersecurity threats, systemic risks, and the potential for fraud. He also cautioned against overreliance on AI, noting that key decisions involving macroeconomic strategy, legal compliance, and ethical judgment must still be made by human professionals.

To address the talent gap, forum participants called for a collaborative training model involving banks, universities, research institutes, and tech firms. Internal training, flexible education frameworks, and improved strategies to attract and retain tech talent were all identified as priorities.

Ultimately, the banking sector’s ability to compete in the digital era depends on its ability to secure and nurture a skilled tech workforce. As the race for digital transformation heats up, this human capital will prove to be the most vital asset of all.

PV