FROM E-BANKING OPERATIONS TO DIGITAL BANKING OPERATIONS IN VIETNAM: LAW CURRENT SITUATION AND RECOMMENDATIONS

Under the impacts of the Fourth Industrial Revolution, banking is a business field in which a new business model related to the financial technology and digital banking technology based on big data platforms, artificial intelligence, Robotic Process Automation and Blockchain Technology. In Vietnam, the legal framework for digital banking operations has already had initial regulations in the Law on Credit Institutions and the Law on Electronic Transactions. However, these regulations have not met the requirements to regulate the digital banking operations, because these are electronic banks -the first stage of digital banking operations. In the strategic orientation of the banking industry development, the digital banking development is one of the identified goals, in which, building a legal framework for digital banking operations is a solution that needs to be implemented immediately. To develop digital banking operations, current regulations on e-banking operations must be amended and supplemented to meet the requirements of digital banking operations, especially standards on technology infrastructure, the requirements for safety, continuity of transactions and protection of customer interests.