Electronic banking in vietnam a swot analysis for strategic planning,graduation thesis

INTRODUCTION

Motivation for the Study

This study is motivated by the rapid growth of electronic banking distribution channels in Vietnam, which offers significant advantages for both banks and customers through enhanced convenience, accuracy, and speed Since the mid-1990s, advancements in information technology have intensified competition among commercial banks to expand their customer base by improving E-banking services.

The growth of E-banking necessitates the implementation of key strategies, as it is a unique service offered through electronic channels To develop effective strategies, banks must analyze the strengths, weaknesses, opportunities, and threats associated with E-banking services.

The final motivation is relevant to my career target As a candidate for Bachelor of

As an Arts major specializing in English for Banking and Finance, I recognize the significant advantages of E-banking My aspiration is to contribute to organizations that offer electronic payment solutions both nationally and globally.

For those reasons, the study “Electronic Banking in Vietnam: A SWOT Analysis for

Strategic Planning” was chosen as my graduation thesis.

Objectives of the Study

This study focuses on identifying the challenges and concerns associated with E-banking in Vietnam The insights gained will significantly contribute to the marketing strategies of banks currently providing E-banking services and those planning to introduce such services in the future.

The study concentrates on three major issues:

- Analysis on the strengths, limitations, chances, and challenges of E-banking

Dao Thi Ngoc Mai 2 ATC A – K11

- Recommendations addressed to the Government and SBV

Research Questions

Based on the information about E-banking environment in Vietnam as well as the theoretical background, the first research question arises:

- How is E-banking environment in Vietnam assessed?

SWOT analysis findings are the foundation for the second question to be designed:

- What kinds of strategies should be formulated for the development of E-baking?

For the accomplishment of this study, the following methodologies are employed:

- Analysis: SWOT analysis is used to evaluate the E-banking environment in Vietnam

- Statistics: Secondary data is amassed from the published reports, articles, and documents relevant to E- banking, which are available either online or in print

This study consists of six chapters: the first two chapters provide the background of the research, the next three chapters include the assessment, analysis, and proposed strategies for the growth of E-banking, while the final chapter concludes the entire thesis.

E-banking today makes it easier for customers to access to the products offered by banks The service itself presents the issues and challenges when being managed, however The analysis and findings in this study, therefore, may be applied by the commercial banks to make competitive strategies among other competitors Besides, the contribution is for the law makers to enact the policies concerning E-banking development.

Contributions of the Study

E-banking today makes it easier for customers to access to the products offered by banks The service itself presents the issues and challenges when being managed, however The analysis and findings in this study, therefore, may be applied by the commercial banks to make competitive strategies among other competitors Besides, the contribution is for the law makers to enact the policies concerning E-banking development.

THEORETICAL FRAMEWORK

Electronic Banking – A General View

Electronic banking (also E-banking) is defined as the automated delivery of new and traditional banking products and services directly to customers through electronic, interactive communication channels (FFIEC, 2003)

This definition includes delivering services and products such as:

- Business transactions and transfers through a public or private network

These activities might take place using various types of intelligent interactive devices such as:

- Electronic Funds Transfer at Point of Sale (EFTPOS),

Since the late 1990s, e-banking has evolved significantly, growing from minimal usage to tens of millions of users globally This transformation is rooted in various generations of electronic transactions, such as ATMs, POS systems, and phone banking, which have paved the way for the widespread adoption of online banking services.

Electronic banking has evolved significantly, starting with ATMs, which provided customers with the first automated access to their accounts POS devices further advanced this by enabling cardholders to transfer funds seamlessly by swiping their cards Phone banking allowed users to perform transactions by calling their bank and using their phone keypads, but it was PC banking that transformed the experience, enabling users to interact with their banks through computers connected to phone networks However, both phone and PC banking faced challenges, including high costs and complex installation processes.

After those generations Deutsche Bank launched the very first Internet banking in

In 1996, Citibank expanded its internet banking services across all its global branches, highlighting the growing trend in Latin America (UNCTAD, 2002) This innovative banking method utilizes web browsers for user interaction and the Internet for data transfer, offering significant potential for cost reduction.

E-banking development is wireless Internet applications of banking – called Mobile banking With the combination of the Internet and mobile phone, Mobile banking service is thus enabled

Electronic banking is pointed out to be fast becoming strategic necessity for most commercial banks

E-banking offers new value to customers It makes available to customers a full range of services including some services not offered at branches

E-banking offers significant advantages to customers by providing low-cost or even free financial services With fewer bank staff and less paperwork required for transactions, the overall cost of financial services is reduced, benefiting clients greatly.

E-banking services provide the significant advantage of rapid transaction processing Thanks to advancements in information technology, personal computers can efficiently handle multiple customer orders simultaneously, far surpassing the capabilities of bank tellers As a result, customers can complete their banking transactions without the hassle of waiting in line.

E-banking offers customers unparalleled freedom by eliminating the constraints of time and location for financial transactions Clients can conduct all banking activities from the comfort of their homes using a personal computer or mobile phone, avoiding the need to visit a bank branch This convenience not only saves time but also enhances accessibility and significantly boosts customer satisfaction.

Customers are able to manage their bank affairs when they want to, and they enjoy more privacy while interacting with their bank

FIGURE 2.1 Comparison between electronic banking and traditional banking services

Many banks and organizations are adopting E-banking due to its numerous advantages Key benefits include enhanced convenience for customers, improved efficiency in transactions, and reduced operational costs for institutions Additionally, E-banking offers increased accessibility and flexibility, allowing users to manage their finances anytime and anywhere These factors contribute to the growing trend of digital banking solutions in the financial sector.

Implementing E-banking requires significant capital investment in personal computers, ATMs, and supporting devices, resulting in high fixed costs However, the variable costs associated with E-banking are considerably lower compared to traditional bank branches As a bank's customer base grows, the cost per electronic transaction decreases, highlighting that converting more transactions to online formats leads to greater savings.

Deposits the Check in bank

Next day the Money is transferred

Client logs on to Bank’s web site

Keys in the user Name & password

Money is transferred same day

Traditional banking is evolving with the integration of electronic banking systems This shift enhances customer convenience by allowing online transactions and account management Additionally, electronic banking offers improved security features and faster processing times As technology advances, traditional banks are adapting to meet the changing needs of consumers, ensuring a seamless banking experience Embracing digital solutions is essential for banks to remain competitive in the modern financial landscape.

E-banking can make a big contribution to the growth of revenues because banks providing E-banking services can retain existing customers, attract new clients, and seize cross selling opportunities For example, many banks sell and manage the banking services combined with assurance products of assurance companies Cross selling allows banks to diversify the portfolio of services to increase their turnovers

This is an especially attractive possibility for smaller banks with a limited product range (Shah & Clarke, 2009)

E-channels allow banks to expand their network easily without banks’ opening new branches In this way, banks can attract customers from various parts of the country and the world In many countries banks share their resources such as ATMs or use post offices as their main interaction points (Shah & Clarke, 2009)

 Load reduction on bank counters

E-banking enables customers to perform many banking affairs automatically through interactive devices like ATM, POS, personal computer, and mobile phone, etc This usually results in load reduction on bank counters, enabling bank staff to provide better quality of customer services

E-banking aids banks in increasing operation efficiency since it is preeminent over tellers for dealing with a large number of transactions within a short time with the accuracy Besides, the Internet and personal computer can save time in processing documents, searching and transferring files, which enhances the competitiveness of banks

In addition, E-banking can boost the efficiency of funds using Thanks to the E- banking services, the financial transactions of clients can be conducted rapidly, accelerating the money revolving

SWOT Analysis

SWOT analysis is a strategic tool that helps organizations identify and categorize key internal factors, such as strengths and weaknesses, along with external factors like opportunities and threats, to enhance decision-making and strategic planning (JRC European Commission, 2007).

In general, SWOT analysis could be applied in any subject matter

The following diagram shows how a SWOT analysis fits into a strategic situation analysis

FIGURE 2.2 Contents of SWOT analysis

The SWOT analysis classifies the internal aspects of the company as strengths or weaknesses and the external situational factors as opportunities or threats

 Strengths: characteristics of the business, or project team that give it an advantage over others

 Weaknesses (or Limitations): characteristics that place the team at a disadvantage relative to others

 Opportunities: external chances to improve performance (e.g make greater profits) in the environment

 Threats: external elements in the environment that could cause trouble for the business or project

When the analysis has been completed, a SWOT profile can be generated and used as the basis of goal setting, strategy formulation, and implementation The completed

SWOT profile sometimes is arranged as follows:

Strategic Planning

Strategic planning serves as a framework for structuring the current state of an organization based on forecasts of its desired future Essentially, a strategic plan acts as a roadmap, guiding an organization from its present position to its envisioned goals over the next five to ten years (SLA, 2001).

The following is a flowchart model of this process:

FIGURE 2.3 The strategic planning process

The mission statement describes the company's business vision, including the purpose of the firm and forward-looking visionary goals that guide the pursuit of future opportunities

Guided by the business vision, the firm's leaders can define measurable financial and strategic objectives Financial objectives involve measures such as sales targets and earnings growth

The environmental scan includes the following components:

 Internal analysis of the firm

An internal analysis uncovers a firm's strengths and weaknesses, while an external analysis highlights opportunities and threats By conducting a SWOT analysis, a comprehensive profile is created that summarizes these strengths, weaknesses, opportunities, and threats, providing valuable insights for strategic planning.

After gaining a comprehensive understanding of the company and its surroundings, it becomes possible to formulate targeted strategic alternatives It is essential that the strategy aligns closely with the insights derived from the SWOT analysis.

The selected strategy is implemented by means of detailed descriptions of all actions to be taken, including timings and specified individuals or departments that are responsible for the plan

Monitoring the implementation of the strategy is crucial for identifying any discrepancies between actual performance and forecasted results By promptly making necessary adjustments, project outcomes can be optimized and ensured for success.

2.3.3 Relationship between SWOT analysis and strategic planning

SWOT analysis plays a crucial role in strategic planning by serving as an essential tool for environmental scanning, which is the second step of the strategic planning process Furthermore, validating the findings from the SWOT analysis lays the foundation for effective strategy formulation, marking the third step in the planning cycle.

SWOT analysis enables businesses to identify their strengths and weaknesses, providing insights into potential advantages and disadvantages Additionally, it helps assess the external environment, highlighting opportunities and threats that may impact the project.

Dao Thi Ngoc Mai 12 ATC A – K11 creating a recommendation of strategy formulation that makes full use of the subject matter’s strengths and opportunities, whereas minimizing the weaknesses and threats

SWOT analysis is essential for developing effective strategies, as its findings directly inform the planning process Conversely, strategic planning lacks effectiveness without the insights provided by a thorough SWOT analysis.

Summary

This chapter aims to provide a theoretical foundation for the thesis by exploring the evolution of E-banking, highlighting the significant advancements in electronic distribution channels for banking products and services It notes that a diverse array of E-banking products is now accessible to customers, with cost savings being the primary advantage for banks, while customers benefit from enhanced speed and convenience Additionally, the chapter examines the SWOT analysis model and its components, outlines the strategic planning process, and discusses the connection between SWOT analysis and strategic planning, establishing a theoretical basis for proposing strategies to enhance E-banking development.

SWOT ANALYSIS ON ELECTRONIC BANKING IN VIETNAM

Strengths of E-Banking in Vietnam

Distributing banking products and services through electronic channels, in comparison with other traditional ones, are considerably cheaper The cost advantage of using E- banking is shown in Table 3.1 below

TABLE 3.1 Cost comparison among the service delivery channels

Delivery Channels Average cost per Transaction

Source: Vietnam International Bank (VIB), 2012

Advanced technology has streamlined complex banking processes and reduced the need for extensive bank staff, leading to significant cost savings These reductions not only boost banks' profitability but also enable them to reinvest in cutting-edge technology, enhancing their competitive edge in the industry.

From customers’ perspective, low cost of transactions will encourage them to adopt the electronic channels where they are satisfied with the benefits of speed and freedom

According to the Ministry of Industry and Trade Report 2011, the implementation of various E-commerce services by banks has led to a significant increase in online purchases among consumers This growth is largely driven by advancements in telecommunications technology, resulting in a rapid expansion of e-banking services A diverse array of electronic banking options, including Internet banking, mobile banking, and e-purse services, reflects the global development trends in the financial sector.

Banking cards have become increasingly popular in Vietnam, with most banks offering a variety of card products for customers to select from For instance, Asia Commercial Bank (ACB) currently provides retail clients with eleven different types of cards, ensuring a wide range of options to meet individual needs.

The Vietnam Export Import Commercial Bank (Eximbank) has significantly contributed to the growth of the card market in Vietnam, with the number of card brands soaring from 70 to 250 within five years The participation of banks in this market has also increased, rising from 17 banks offering banking cards in 2006 to 47 commercial banks providing a variety of cards, including ATM, debit, and credit cards, by 2011 This expansion of bank card services not only offers banks an additional source of funding but also enhances their ability to deliver diverse financial services to customers.

TABLE 3.2 Number of card providers and brands

The growth of banking card market in terms of card providers and brands, consequently, led to the snowballing development in the number of cards in circulation

FIGURE 3.1 Number of cards in circulation 2006 - 2011

Number of Cards in Circulation 2006 - 2011 (mil)

The number of issued cards had a gradual rise, reaching approximately 40 million in

December 2011, in which debit cards accounted for about 95 percent Vietnam is considered the most dynamic market for banking cards with an annual growth rate of

18.5 percent until 2014 (Research and Markets, 2011)

Internet banking enables clients to conduct banking transactions via Internet without customer’s going to bank branches In 2004 only three commercial banks offered

Internet banking service which however was available at 25 banks in 2008 Up to May

Since 2012, the majority of banks have offered Internet banking services, allowing customers to access essential features such as checking account balances, transferring funds, and reviewing transaction history Additionally, users can conveniently pay bills for utilities, insurance, foreign exchange fees, and even purchase airline tickets online.

SMS banking service was first introduced to Vietnam in 2003 At present, most

Vietnamese banks provide SMS banking services that enable customers to easily manage their accounts through text messages Clients can inquire about interest rates, check their account balances, review transaction histories, and obtain information on currency and gold exchange rates, as well as locate banking units and ATMs.

Mobile banking is a banking service via mobile phone enabling customers to carry out

Experience seamless 24/7 online banking transactions with Vietnamese banks, allowing customers to manage their finances conveniently anytime and anywhere, ultimately saving time and costs With mobile banking services, clients can easily perform a variety of tasks, including funds transfers, bill payments, mobile phone top-ups, balance inquiries for deposit and savings accounts, loan account details, international card limits, transaction history, interest rates, exchange rates, and locate ATMs and banking units.

E-purse initially appearing in 2008 allows users to electronically pay for the products and services on the E-commerce websites and conduct other facilities Up to now, numerous E-purse services have been available on Vietnamese market such as

The electronic payment market is currently experiencing intense competition among brands like OnePay, VNMART, VNPAY, VIETPAY, Megapay, Momo, and Payoo This rivalry has resulted in reduced fees and increased promotions, ultimately benefiting customers by enhancing their experience with electronic payment channels.

 Payment via Paypal (www.paypal.com)

Several banks have partnered with PayPal to enhance customer convenience by providing services like account verification and withdrawals For instance, PayPal can verify Visa debit and credit cards issued by Eximbank and ACB, enabling these cards to be used for international purchases This service is particularly beneficial for those looking to buy goods from global websites.

In addition to the electronic banking services mentioned above, many banks are now providing their customers with other convenient services like Home banking, Phone

Banking, Call center, etc Such types do not require customers’ visitations to bank branches for the banking affairs to be performed

E-banking services are widely accessible, providing consumers with significant convenience and benefits The following table highlights the most popular E-banking offerings from various Vietnamese commercial banks.

TABLE 3.3 E-banking services in Vietnam

Banks ATM POS Home banking

Source: Vietnamese commercial banks’ websites, 2012 3.1.3 Increased ATM transactions

By the efforts of expanding the network of banking cards, the transactions at ATM booths have been continuously increasing by both number and value over the last few years

From 2006 to 2011, the number of ATM transactions rose about six times from 159.2 to 917 million The trading value, accordingly, has risen in line with the trading volume

Between 2006 and 2010, the value of transactions at ATM kiosks experienced steady growth, rising from 180.2 trillion to 357.1 trillion, averaging an annual increase of 19 percent In the following year, this figure surged dramatically, achieving a remarkable 40 percent growth and reaching 504.4 trillion.

1 Trillion: one million million (Am.E)

FIGURE 3.2 ATM transactions: Value & Volume 2006 – 2011

Those figures prove that Vietnamese people are getting accustomed to conducting financial transactions through banking cards, showing another strong point of E- banking in Vietnam.

Weaknesses of E-Banking in Vietnam

3.2.1 Small number of online banking users

Vietnamese customers tend to favor traditional banking methods, often visiting bank branches to interact with tellers for detailed information, rather than conducting transactions through personal computers or mobile devices.

Thus, this is one limitation of E-banking service in our nation

A recent survey was conducted by comScore in Vietnam, Malaysia, Indonesia,

Philippines, Hong Kong and Singapore to assess the popularity of online banking

Transaction Value (VND tn) Transaction Volume (mil)

Dao Thi Ngoc Mai, a representative of ATC A – K11, highlighted the significant growth of online banking services in Vietnam, which saw a 35 percent increase in users from 701,000 to 949,000 in 2010 In comparison, Indonesia experienced an even more remarkable surge, with a 72 percent rise in online banking users from 435,000 in January 2010.

749,000 users a year later and it increased 39 percent in Philippines from 377,000 to

525,000 users Although gaining the aforementioned impressive growths, the level of online banking services in Vietnam is still relatively low compared to the population

TABLE 3.4 Online banking users by markets

The data from the table above demonstrates that only 1.0 percent of the total population of Vietnam used online banking services while such respective figures of

Hong Kong and Singapore were 21.7 and 18.8 Even when being compared with

Malaysia’s, the sum of Vietnamese online banking users was still nine times smaller

A Nielsen study conducted in 2010 revealed that only six out of 600 Vietnamese consumers accepted Internet and mobile banking, indicating a low adoption of online banking services for daily transactions Additionally, the rise in cybercrimes poses significant risks to financial transactions, which are closely tied to money and personal fortunes.

Countries Online banking users Jan 2010

Online banking users Jan 2011 % Change % Population

Dao Thi Ngoc Mai 21 ATC A – K11 highlights the challenges facing the growth of E-banking in Vietnam Despite the availability of facilitated services online, many individuals remain hesitant to utilize them The current landscape reveals an oversupply of Internet and mobile banking services, which is not matched by sufficient user demand, ultimately hindering the advancement of digital banking in the country.

E-banking services in Vietnamese banks are still in their early stages, primarily offering basic functions such as account balance inquiries, funds transfers, and recent transaction lists Advanced services like deposits, loan applications, and foreign exchange transactions are not yet accessible online Although online payment and mobile funds transfer services have been available since 2006, they remain limited to a few commercial banks.

Many banks still require customers to visit physical branches for registration to access online banking services, as online subscriptions are not widely available on their websites This requirement can deter customers from trying out new banking services.

Due to such limitations on banking services through E-banking, customers may be discouraged from adopting E-banking services They are likely to be content with the current bank branch methods

3.2.3 The concerns with ATM service and POS terminals

Owning to the rapid growth of banking cards in circulation, there has been a rise in the

ATMs installed across the country From 2006 to December 31 2011, the number of

ATMs remarkably jumped by around four times from 3,000 to 13,000 pieces (VBCA,

2011) However, in comparison with some other countries, the ATM number is viewed as low See Table 3.5

TABLE 3.5 Comparison on number of ATM and POS among countries

Countries Number of ATM Number of POS

Source: Bank for International Settlements (BIS) 2012, VBCA 2011

The table shows the US leaded in ATM numbers with 406,100 pieces, followed by

Japan leads with 139,200 ATMs, followed by Germany with 79,500 The UK and Canada have 63,900 and 60,200 devices, respectively Italy and France report similar numbers, with 54,700 and 53,300 ATMs Among the eight countries analyzed, Vietnam has the least, with only 13,000 ATMs, significantly trailing behind the others.

As to the sum of POS, the US providing 5,175,000 pieces came first Japan, France,

Italy and the UK all offered more than 1 million devices in the whole countries Whilst the POS number of Canada was 630,500, such figure of Germany reached 593,000

Vietnam was still at the bottom in term of POS number with 70,000

The level of infrastructure of ATM in consumer finance in Vietnam remained highly underdeveloped In 2011, there were only 13,000 ATMs in the country while the

Dao Thi Ngoc Mai 23 ATC A – K11 volume of transactions at ATMs was approximately 917 million in the same year

(Euromonitor International, 2011), which means each machine served the average of

In 2011, there were approximately 70,000 banking transactions, averaging 190 deals per day, highlighting a significant demand for ATMs that were not being met The distribution of ATMs was largely concentrated in major cities like Hanoi and Ho Chi Minh, leading to accessibility issues for consumers in other areas Furthermore, many of these machines were outdated and poorly maintained, resulting in frequent problems such as incorrect account deductions and card retention, even when customers had done nothing wrong (Euromonitor International, 2011).

In May 2010, three leading local card operators successfully linked their network

In 2011, Euromonitor International reported that consumers gained the ability to withdraw money and make purchases from nearly any ATM across the country, not limited to their own bank's machines However, certain banks still impose a nominal transaction fee for customers using ATMs that do not belong to their institution.

Thus, various consumers prefer to continue using the ATMs that belong to their own bank in order to avoid paying the transaction fee

 The operation of POS terminals

Recent years have seen a significant increase in the number of POS from 11,000 to

Between 2006 and 2011, the number of POS terminals increased sixfold, reaching 70,000 devices across retail outlets, restaurants, hotels, and resorts nationwide These terminals enable consumers to make electronic payments for goods and services Despite this growth in infrastructure, the total payment value processed through POS terminals was relatively low, amounting to only USD 1,600 million in 2011.

2011) According to trade sources, such figure only accounts for five percent of the total value of all payment methods in our country

The reliance on cash among consumers has led to a reluctance to use payment cards at acceptance locations Many cardholders are unfamiliar with the card payment process, which discourages them from making transactions Additionally, some individuals believe that using cards makes it difficult to track their spending, prompting them to prefer cash for purchases.

Another weakness in the operation of POS terminals in Vietnam is that staff members in retail outlets are still not properly trained in conducting card transactions through

POS; as a result of which many errors are made when performing card transactions, which causes the annoyance among customers

Such limitations are considered the main issues demanding for proper management of

Vietnamese commercials banks as well as the Government and SBV.

Opportunities of E-Banking in Vietnam

Vietnam officially became the 150 th member of World Trade Organization (WTO) in

In November 2006, Vietnam's entry into the WTO presented significant opportunities and challenges for its economy, particularly in the banking sector This milestone enabled foreign-owned banks to acquire shares in local banks, marking a pivotal moment for investment and growth in the financial industry.

Vietnamese banks are set to boost their capital by leveraging the expertise and advanced technology of foreign partners This strategic approach will enable them to enhance their infrastructure, providing more convenient E-banking services and investing in high-tech equipment for effective E-banking implementation.

When foreign organizations enter the Vietnamese market, commercial banks can capitalize on cross-selling opportunities, allowing them to offer and manage products and services from various sectors This strategy diversifies the banks' service portfolios, enhancing customer retention, attracting new clients, and boosting sales figures.

At present, cross selling in Vietnamese commercial banks is commonly the combination of consumer credit with insurance products of insurance companies like

Cross-selling opportunities in electronic banking services among institutions like Bao Viet, ACE Life, and Prudential Vietnam remain underdeveloped This presents significant potential for banks to integrate their e-banking services with products from other banks or businesses, ultimately enhancing service offerings and improving customer satisfaction.

3.3.2 Rising gross domestic product per capita

Income plays a crucial role in the adoption of modern banking services, as research indicates that higher earnings lead to an increased demand for financial transactions In Vietnam, the rise in average per capita income presents significant opportunities for the growth of e-banking services.

As a result, consumers will have more chances to access such convenient banking products as E-banking

FIGURE 3.3 Gross domestic product per capita

Source: International Monetary Fund (IMF), 2012

Despite Vietnam's average income being lower than that of many other countries, it has shown consistent growth over recent years The GDP per capita increased from USD 742.05 in 2006 to USD 1,047.87 in 2008, reflecting a positive economic trend.

2009, saw a slower rate growth of average income due to the global financial downhill

The figures since then, however, have continued to increase gradually, obtained

When income rises, consumers will need more consumption in addition to the savings

Moreover, in modern business environments, customers want to have greater choice,

Gross Domestic Product per Capita (USD)

Dao Thi Ngoc Mai 26 ATC A – K11 highlights the growing demand for high-quality banking services among clients Today, customers prefer quick financial transactions over waiting at bank branches, seeking convenience and accessibility at any time Electronic banking offers fast and convenient solutions without the need for in-person visits As the average income in Vietnam rises, consumer spending will increase, presenting banks with golden opportunities to provide modern services through electronic channels.

 Huge number of Internet users and phone subscribers

There is still room for the strong development of online banking services in Vietnam since the online banking adopters take up 1.0 percent of the population only (Nielsen,

In 2010, Vietnam benefited from a significant number of Internet and phone users, creating a large customer base that enhances the potential for E-banking popularity This growing digital user demographic is likely to foster acceptance of E-banking services when they are launched in the Vietnamese market.

As of the end of 2011, Vietnam had approximately 32.6 million Internet users, representing 37.11% of the population, according to the General Statistics Office of Vietnam (GSO, 2011) Additionally, there were around 15.5 million landline telephone subscribers and 117.6 million mobile phone subscribers, which equated to 17.65% and 113.88% of the population, respectively.

TABLE 3.6 Internet and phone usage statistics

Vietnam is poised for sustainable growth in Internet and mobile phone usage, creating a significant potential client base for banks to target with electronic banking services in the coming years.

FIGURE 3.4 Structure of population by age

Vietnam's population, estimated at around 88 million by GSO, features a labor force comprising 66.1% of its demographic, marking a golden population period that will last for approximately 30 years This youthful demographic is particularly responsive to economic and cultural shifts, demonstrating a strong willingness to embrace new technologies Consequently, these young individuals are poised to drive the adoption of modern banking services, highlighting how Vietnam's demographic advantage significantly boosts the growth of E-banking.

3.3.4 Regulatory and legal environment on E-banking

Structure of Population by Age

The Government and the State Bank of Vietnam (SBV) have established a supportive environment for E-banking growth by developing a comprehensive legal framework for E-commerce and electronic transactions This framework is essential for facilitating secure and efficient digital banking services.

- Law No 51/2005/QH11 of November 29, 2005 on E-transactions

- Decree No 35/2007/ND-CP of March 08, 2007 on banking E-transactions

- Decision No 20/2007/QD-NHNN of May 15, 2007, promulgating the regulation on issuance, payment, use of bank cards and provision of bank card operation support services.

- Directive No 20/2007/CT-TTg of August 24, 2007, on the payment of state budget- financed salaries through bank accounts

This will help to increase the banked population and to provide a strong base for the transition to card payments

Law No 37/2009/QH12, enacted on June 19, 2009, amends and supplements various articles of the penal code to address high-tech crimes This legislation facilitates the fight against electronic transaction fraud and promotes the adoption of online banking services among consumers.

- Circular No 29/2011/TT-NHNN of September 21, 2011 on the security of banking services provided via internet

The Circular outlines essential information security requirements for delivering banking services online, aiming to ensure uninterrupted and secure service provision while safeguarding the interests of both banks and their clients.

Circular governs those credit institutions and foreign bank branches providing banking services via internet

The regulatory and legal framework for e-banking is evolving, yet the rise in various types of crimes necessitates a more comprehensive legal structure and effective regulatory oversight to ensure security and trust in digital banking services.

3.3.5 The connection of local card operators

In May 2010, local card operators Vietnam Financial Switching JSC, Smartlink Card

Threats of E-Banking in Vietnam

3.4.1 The quality of the Internet and mobile network

Fifteen years after the introduction of the Internet in Vietnam, connection speed remains a significant barrier to the growth of various economic sectors, especially the banking industry A survey conducted by Pando highlights these challenges, emphasizing the need for improved internet infrastructure to enhance overall economic development.

In 2011, Pando Networks reported that Vietnam boasted the fastest Internet connection speed in Southeast Asia at 374KBps, although this figure remained below the global average of 580KBps Furthermore, NetIndex highlighted that the overall quality of Internet service in Vietnam often fell short of expectations.

Dao Thi Ngoc Mai 30 ATC A – K11 has experienced technical faults, including unstable links and cable breaks, leading to disconnections across various websites This situation negatively impacts banking activities, deterring customers from embracing E-banking, particularly online banking services.

Although all licensed mobile operators have offered third-generation (3G) services since early 2008, 3G could not enjoy a boom on Vietnamese market (VNPT, 2011)

The limitations of 3G technology hinder the speed of information transmission and restrict mobile access to banking websites Consequently, mobile banking solutions encounter challenges, as customers are unable to conduct their desired banking transactions fully.

A recent survey by Princeton Survey Research Associates International revealed

Internet security concerns significantly hinder customer acceptance of electronic commerce, acting as a barrier to online financial transactions and potentially threatening the overall development of the industry.

Internet security is the issue faced by not only Vietnam but any other countries as well

In recent years, there has been a significant rise in cybercrimes, particularly involving unauthorized fund transfers from customer accounts and the illicit capture of Internet banking IDs and passwords.

Vietnam's banking security network faces significant threats from hackers due to inadequate management systems Research shows that the rise of internet banking has heightened the vulnerability of banks to cybercriminal attacks A survey involving 40 banks conducted by Bach Khoa Internetwork highlights these growing risks.

A recent investigation by the Security Centre identified that 20 accounts were left unsecured, exposing vulnerabilities in money transfer processes Additionally, it was found that the password recovery feature could be exploited to alter customer passwords, raising significant security concerns.

Such crimes pose growing threat to the financial health of businesses, requiring a timely and tight control Net hackers truly increase the concerns of customers towards using E-banking services

E-banking services not only have to face Internet security concern but also the issue of

The rise in ATM crimes has led to a significant increase in incidents where criminals vandalize ATMs to steal cash and install hidden cameras to illegally capture cardholders' data during transactions This alarming trend poses serious security risks for users, particularly affecting foreign banks operating in the region.

Vietnam is leveraging modern technology to enhance the security of its ATM systems, in contrast to domestic banks that often overlook the implementation of anti-theft systems during ATM purchases, despite the compatibility of this technology with most machines.

The rise in ATM hacking incidents and the resulting chaos at ATM booths undermine operational efficiency This not only jeopardizes customer funds due to unauthorized access by criminals but also poses a significant threat to the expansion of E-banking services in Vietnam.

3.4.3 Consumers’ custom of using cash

The rise of E-banking is closely tied to customer acceptance, as providers struggle to innovate without consumer perception In Vietnam, the strong preference for cash transactions poses a significant challenge to the growth of E-banking services.

Despite the rise of POS terminals in modern retail outlets, cash remains the most popular payment method in Vietnam Many consumers, even those with credit or debit cards, continue to favor cash transactions due to the deeply rooted tradition of cash payments in the country.

The reliance on traditional retailers necessitates cash for daily transactions, making it difficult for consumers to shift their habits quickly Without extensive marketing efforts from electronic banking service providers, changing these established behaviors poses a significant challenge.

According to the VBCA, nearly 50 percent of cards are primarily utilized for cash withdrawals, contributing to the persistently high cash rate in total liquidity.

FIGURE 3.5 The cash rate in total liquidity

Since 2003, the rate of cash has been dropping gradually by 40 percent from 20.03 to

13.5 percent; however, the rate is higher compared to other countries in the world For example, such figures of Sweden and Norway are 0.7 and 1 percent, respectively (Do

Summary

A SWOT analysis of E-banking services in Vietnam reveals key insights into its strengths, weaknesses, opportunities, and threats The rapid growth of ATM transactions stands out as a significant advantage, while low customer adoption of online banking hinders further development Despite the potential for growth due to a large base of internet and mobile phone users, as well as a youthful population, the prevailing consumer preference for cash transactions presents a fundamental challenge to the expansion of E-banking.

In short, the SWOT analysis on electronic banking in Vietnam can be summarized as follows

TABLE 3.7 SWOT profile of E-banking in Vietnam

(1) Small number of online banking users

(3) The concerns with ATM service and POS terminals

(2) Rising gross domestic product per capita

(4) Regulatory and legal environment on

(5) The connection of local card operators

(1) The quality of the Internet and mobile phone network

(3) Consumers’ custom of using cash

(4) Demand for applying advanced technology

Conclusion

The findings from the SWOT analysis can assist banks in recognizing their strengths and limitations in relation to the opportunities and challenges of offering E-banking services By grasping these four critical elements, banks can effectively leverage their strengths, address weaknesses, seize valuable opportunities, and mitigate potential threats in the evolving digital banking landscape.

STRATEGIC PLANNING ON ELECTRONIC BANKING IN VIETNAM

Missions and Objectives

Information technology and telecommunications are crucial for economic growth, especially in the banking sector Consequently, the government and the State Bank of Vietnam (SBV) prioritize the integration of technology within banking services.

2453/QD-TTg of December 27, 2011, approving the scheme to step up non-cash payment in Vietnam - Period 2011 – 2015, the Government defined three missions and three main targets as follows

To promote a cashless society, it is essential to enhance electronic payment systems by introducing a variety of safe, convenient, and innovative products and services A key focus should be on expanding electronic payments through Point of Sale (POS) systems, which will help reduce cash transactions and encourage the widespread adoption of non-cash payment habits among the population.

- Second, select and apply some appropriate payment models for Vietnam to build the platform, create a development for operation of non-cash payment in rural areas

- Third, strengthen the management of cash payments, reducing the transactions of payment

- Firstly, by the end of 2015 the cash percentage in the total liquidity reaches a level of lower than 11 percent

- Secondly, by the end of 2015 increase the number people accessing to payment services, increase the proportion of people having bank accounts up to 35-40 percent of the population

- Thirdly , by 2015 aim to achieve 250,000 POS devices with the number of transactions reaches about 200 million transactions per year.

E-banking Strategy Formulation

Based on the government's objectives and the assessment findings on E-banking from the previous chapter, this thesis proposes several strategies for enhancing E-banking services in Vietnam.

 Diversify the functionalities of E-banking services

Vietnamese banks benefit from the availability of e-banking products and the potential for market growth, which encourages them to introduce new services through electronic channels However, the current state of e-banking in Vietnam reveals a lack of essential functions that should be available, highlighting significant limitations in the service offerings.

Dao Thi Ngoc Mai 37 ATC A – K11 less attractive than traditional banking services, thus absolutely being unable to satisfy a large number of customers

To gain a competitive edge and attract more customers, banks should prioritize diversifying their E-banking services Enhancing electronic service functionalities, particularly in Internet and Mobile banking, will provide significant advantages over competitors and encourage greater adoption of E-banking solutions.

Despite the growing trend of internet banking, many consumers remain hesitant to fully embrace the service, highlighting the need for further research and development To enhance user acceptance, banks should expand their offerings beyond basic services to include premium features like online loan applications and foreign exchange deals By diversifying their digital services, banks can better meet the evolving needs of their clients and encourage greater adoption of internet banking.

DBS Bank in Singapore offers various internet banking services, including the Regular Savings Plan and Unit Trust Application, which are not widely known in Vietnam These innovative services serve as valuable examples for Vietnamese banks aiming to enhance their e-banking development strategies.

Many commercial have not made Mobile banking available in their product range

SMS banking services allow customers to perform essential banking functions, such as checking account balances and accessing transaction history, although they limit the range of available services.

The progress of services via mobile phone is actually potential owing to three factors

Vietnam boasts a substantial customer base of approximately 120 million mobile phone subscribers, indicating a robust market potential Additionally, the gradual increase in GDP per capita is driving higher consumption rates among the population Furthermore, many Vietnamese individuals are experiencing the effects of the "advanced mobile phone" trend, highlighting a growing demand for modern technology.

1 Regular Savings Plan enables clients to save a regular amount of money in the Internet banking account, which then gains profits

2 Unit Trust Application allows customers to use money in the account to invest into unit trust funds by applying online

Dao Thi Ngoc Mai 38 ATC A – K11 fever” (VNPT, 2011), making it easy for consumers to access banking services via mobile phone

Vietnamese commercial banks should enhance their mobile banking services by expanding the range of functions offered This includes adding features such as funds remittance, bill payments, and mobile phone top-ups to improve convenience for customers.

 Increase cross selling through E-banking services

Since Vietnam's accession to the WTO, foreign entities have gained access to the local market, allowing domestic businesses to capitalize on cross-selling opportunities Consequently, banks can improve their E-banking services by integrating their offerings with those of other organizations A service that provides multiple features is likely to gain popularity among consumers.

Banks can enhance their e-banking services by offering airline and movie ticket sales, catering to customers who utilize Internet banking Additionally, partnering with shopping centers to provide member cards for mobile banking users can further entice customers These initiatives are effective strategies to attract more users to e-banking services.

To address the challenge of non-cash payment habits and low online banking usage in Vietnam, it is crucial for banks to implement effective marketing strategies that help consumers gradually embrace electronic banking services Promotion plans should emphasize educating clients about the advantages of modern banking and highlight the superiority of electronic banking over traditional methods By focusing on these aspects, banks can facilitate a smoother transition for customers towards adopting digital financial solutions.

 In the first place, organize workshops

Workshops provide banks with a valuable platform to showcase current e-banking solutions and ongoing planning services aimed at transforming consumer habits away from cash payments By actively engaging with customers, banks can better understand their needs and preferences.

Dao Thi Ngoc Mai 39 ATC A – K11 comments on the concerns and difficulties with E-banking so that banks can perfect quality of the services

 In the second place, do promotions

To enhance profitability in E-banking, banks should implement seasonal promotions that offer valuable prizes For instance, cardholders could receive gift cards when their transactions through electronic channels reach a certain threshold These gift cards can be utilized to purchase goods and services equivalent to their value, allowing clients to enjoy shopping without the need for cash.

During Christmas and New Year, businesses should implement promotions, as consumer spending typically increases during these holidays Additionally, banks can collaborate with retail companies to provide exclusive discounts for customers who choose online payment methods over cash transactions.

Effective advertising is essential for banks launching new products and services, particularly in promoting e-banking, which is delivered through electronic channels To enhance consumer awareness, banks must leverage a variety of marketing avenues, including traditional methods like bank counters, television, and radio The rise of social networks such as Facebook, Myspace, and Twitter presents a new, impactful platform for banks to promote their offerings As online users evaluate service quality, this feedback can significantly boost product expansion opportunities Additionally, marketing on social media is often low-cost or free, helping banks reduce their overall selling expenses.

 Then, design official website friendly and communicatively

Summary

This chapter outlines the missions and targets for E-banking strategic planning, emphasizing strategies for the growth of E-banking services It identifies three key missions and three specific targets aligned with the policies set forth by the Vietnamese government.

In our discussion, we highlighted essential strategies for electronic banking, focusing on product and service offerings, human resources, technology, and security measures Implementing these strategies effectively is crucial for banks to enhance customer perceptions of their e-banking services.

RECOMMENDATIONS

To the Government

The previous chapter discussed the legal framework of E-banking; however, such regulations need supplementing and completing to match the changes in the social and economic context

To enhance the existing legal framework, the Government must establish regulations outlining the responsibilities of organizations offering electronic payment services and those utilizing these services.

Furthermore, the regulations for security, prevention, and handling of laws violations in the operation of electronic banking must be enacted as soon as possible

Many Vietnamese individuals hesitate to adopt electronic payments due to associated fees To promote the use of digital payment channels, the Government should implement suitable policies regarding service charges Recommended measures include setting specific charge rates for cash transactions and lowering fees for electronic transfers between banks.

Modernizing banking services through the development of technology infrastructure is a critical issue that requires attention from both banks and the government It is essential for leaders to prioritize this initiative to ensure that the country keeps pace with regional and global advancements in banking technology.

To promote the growth of electronic banking, the government should implement policies that incentivize banks to invest in modern machinery by lowering import tariffs on such equipment, as domestic production of e-banking devices remains limited.

 Create and maintain stable economic and social environment

A stable economic and social environment is essential for development across all sectors, including E-banking When economic and social conditions are favorable, the standard of living improves, encouraging consumers to adopt modern payment technologies As a result, E-banking can experience significant growth.

To obtain the stability of economy, the Government should adopt the deliberate economic policies by combining the monetary and fiscal policies in harmonious way

Healthy economic environment will guarantee the social order, increasing the need of consumers for modern banking services

The advancement of the educational system is closely tied to human resources, necessitating government initiatives to cultivate skilled labor that aligns with economic growth demands.

University graduates are poised to become a significant workforce in the banking sector due to their skills and adaptability to advanced technology in modern banking services To better prepare these graduates, it is essential for the government and universities to incorporate subjects related to e-commerce, electronic payments, and information technology into their educational programs.

Government policies play a crucial role in shaping economic and social sectors When the government implements favorable regulations for banks to provide electronic banking services, it paves the way for significant growth in this sector.

To the State Bank of Vietnam (SBV)

 Develop the infrastructure of payment technology

The integration of innovative technologies is essential for enhancing electronic banking services in Vietnam Consequently, the development of payment technology infrastructure is a key priority that requires stringent oversight by the State Bank of Vietnam (SBV).

To boost the trading value and volume of card payments, it is crucial for SBV to expand the network of card acceptance by increasing the number of card-accepting devices in restaurants, hotels, shopping malls, and retail outlets Additionally, SBV should work on establishing a nationwide card payment system to enhance mutual card acceptance among commercial banks.

To enhance the use of online banking services, the State Bank of Vietnam (SBV) plans to encourage commercial banks to adopt advanced technologies This initiative aims to improve website accessibility and accelerate information transfer, enabling customers to easily access banking services via the Internet and mobile devices.

In the third chapter, it is emphasized that security is a critical concern requiring stringent management from both commercial banks and the State Bank of Vietnam (SBV) As instances of unauthorized access to internet systems increase, banks must implement effective measures to ensure cybersecurity and protect customers' personal information.

With an aim to ensure that financial transactions are conducted safely through the

Internet, the leaders of the SBV should instruct commercial banks to enhance the

Internet management, apply modern security devices, establish a system of security, as well as co-operate with Internet security centers throughout the nation

To enhance the efficiency of ATMs and card acceptance networks, the State Bank of Vietnam (SBV) should coordinate with relevant organizations to conduct quality testing for ATMs and card services Additionally, there should be a strategic plan to develop chip cards that meet international security standards, replacing the existing magnetic cards.

 Encourage commercial banks to expand E-banking services

It is essential that E-banking services be pushed by the leaders of the banking segment

The State Bank of Vietnam (SBV) can foster a larger customer base for banks by creating favorable conditions that promote the adoption of new banking services One effective strategy is to expand credit availability, encouraging consumers to increasingly use credit cards for their transactions This initiative aims to establish credit card usage as a daily payment method, enhancing the overall banking experience.

In addition, the SBV regularly holds the workshops for banks to exchange the experience in electronic banking and solve the problems concerning the operation of electronic transactions

 Perform the policies for consumers and enterprises

To foster the expansion of electronic banking, the leaders of the State Bank of Vietnam (SBV) should implement targeted awareness campaigns and educational initiatives through mass media, aimed at improving consumer understanding and perception of electronic payment services.

The State Bank of Vietnam (SBV) can enhance the adoption of electronic payment systems among retail enterprises by implementing reward and recognition programs for their contributions Additionally, the SBV should advocate for the Government to lower income tax on revenues generated from electronic payment operations, thereby incentivizing businesses to engage in non-cash payment methods.

International cooperation enhances the implementation of cutting-edge technology and enables access to essential consulting, expertise, and financing from foreign partners, thereby accelerating the growth of electronic banking services Key aspects of this collaboration include knowledge sharing, financial investment, and the exchange of best practices.

- Enhancing cooperation, mobilization of institutions of finance, international currency to support Vietnam in quick construction and growth of electronic payment system

- Strengthening cooperation with the international card organizations such as VISA,

MasterCard, American Express, and various regional and global payment institutions are collaborating to analyze trends in electronic banking services, aiming to enhance their implementation in Vietnam.

Summary

With an aim to support the growth of electronic banking in Vietnam, the present chapter offered recommendations to both the Government and the State Bank of

Vietnam to manage and enhance the efficiency of electronic transaction operations

The recommendations concern the issues of many aspects, including technology infrastructure, educational system, encouragement policy, network security, etc

Electronic banking has emerged as a leading payment service, surpassing traditional methods This modern service offers significant advantages for both banks and consumers With the advancement of technology, the rise of E-banking is profoundly influencing the evolution of the banking sector.

E-banking environment in Vietnam has its own strengths and weaknesses as well as opportunities and threats In spite of the limitations and challenges that banks have to face when offering E-banking, Vietnamese business environment has a huge potential for developing this type of service Based on an overview of the background of E- banking as well as the theories of SWOT analysis and strategic planning, the thesis then gave assessments on the strengths and weaknesses, vis-à-vis the opportunities and threats when E-banking services are available in Vietnam Hence, the first research question to be answered was “How is E-banking environment in Vietnam assessed?”

The study addressed the question of effective strategies for the development of E-banking, proposing key approaches to enhance electronic banking growth These strategies aim to assist banks in service delivery and contribute valuable insights for lawmakers Additionally, the study offered recommendations to the Government and the State Bank of Vietnam to inform management policies regarding electronic banking services.

Bùi Gia Tuân (2012) Thị trường thẻ Ngân hàng và thanh toán điện tử Việt Nam

The online banking and electronic payment market in Vietnam is evolving rapidly, as highlighted in the article by Đỗ Thị Bích Hồng (2011), which discusses the role of information technology in enhancing banking services The insights provided by Vizum indicate that the growth of this sector is influenced by technological advancements and changing consumer preferences For further details, the original sources can be accessed online.

DFxNLczdTEwN_Uz8DA09PjwB_JwszIwM_I_2CbEdFACRA0Ag!/?WCM_GLOB

AL_CONTEXT=/wps/wcm/connect/sbv_vn/sbv_vn/sbv.vn.vienchienluoc/sbv.vn.chie nluoc.2/3cd11e0048a5f170979dff3a56ec5608 [Accessed 11 Oct 2011]

General Statistics Office (GSO) (2010), The 2009 Vietnam Population and Housing census: Major findings [online] GSO Hanoi Available from: http://www.gso.gov.vn/Modules/Doc_Download.aspx?DocID528 [Accessed Jun

Ministry of Industry and Trade (MIT) (2012) Báo cáo thương mại điện tử 2011

Nguyễn Minh Kiều (2007) Nghiệp vụ Ngân hàng hiện đại Statistical Publishing

State Bank of Vietnam (SBV) (2005 - 2011) Annual Report 2005 - 2011 Annual

Vietnam Bank Card Association (VBCA) (2012) Report 2011 Annual Report

Vietnam International Bank (VIB) (2012) Transaction Costs 2012 [For internal circulation only] VIB Hanoi

Vietnam Posts and Telecommunications Corporation (VNPT) (2011) Vietnam

Telecommunications Report 2011 Annual Report VNPT Hanoi

Asia Commercial Bank (ACB) (2012) Cards [online] Products & services ACB Ho

Chi Minh Available at: http://www.acb.com.vn/en/index.php?option=com_content&viewegory&layout=b log&idV&Itemid

The Bank for International Settlements (BIS) published a report in 2012 detailing statistics on payment, clearing, and settlement systems across CPSS countries, highlighting data from 2010 Additionally, a comScore report from 2011 indicated a significant increase in online banking usage in Southeast Asia.

Reston Available at: http://www.comscore.com/Press_Events/Press_Releases/2011/3/Online_Banking_on_t he_Rise_in_Southeast_Asia [Accessed Mar 4 2011]

Euromonitor International (2011) Financial Cards and Payments in Vietnam 2011

Country Report Eouromonitor International London

Federal Financial Institutions Examination Council (FFIEC) (2003) Electronic

Banking Booklet [online] FFIEC Available from: http://ithandbook.ffiec.gov/ITBooklets/FFIEC_ITBooklet_E-Banking.pdf [Accessed

General Statistics Office (GSO) (2011) 2011 Social - Economic Statistical Data

[online] GSO Hanoi Available at: http://www.gso.gov.vn/default_en.aspx?tabidP1&thangtk/2011 [Accessed Dec

International Monetary Fund (IMF) (2012) IMF World Economic Outlook Database

[online] Data and Statistics IMF Washington Available at:

Dao Thi Ngoc Mai 52 ATC A – K11 http://www.imf.org/external/pubs/ft/weo/2012/01/weodata/weorept.aspx?sy 06&ey

11&scsm=1&ssd=1&sort=country&ds=.&br=1&pr1.x1&pr1.y&cX2&sNGDPDPC&grp=0&a= [Accessed 17 April 2012]

Joint Research Center (JRC) European Commission (2007) SWOT (Strengths

Weaknesses Opportunities and Threats) analysis [online] FOR-LEARN JRC

European Commission Brussels Available at: http://forlearn.jrc.es/guide/2_design/meth_swot-analysis.htm [Accessed Oct 19 2007]

Nielsen (2010) Personal Financial Monitor [online] Nielsen Vietnam, Hanoi

Available from: http://www.nielsen.com/content/dam/corporate/t3/vietnam/reports/Nielsen_PFM%20P resentation_English.pdf [Accessed Dec 2010]

Organization for Economic Co-operation and Development (OECD) (2001)

Electronic Finance: Economics and Institutional Factors Occasional Papers No.2

Financial Affairs Division OECD Paris

Pando Networks (2011) Global Internet Speed Study [online] Pando Networks New

York Available at: http://chartsbin.com/view/2484 [Accessed Sep 22 2011]

Research and Markets (2011) Vietnam Plastic Card Market Forecast to 2013 [online]

Research and Markets Dublin Available at: http://www.researchandmarkets.com/reports/1195509/vietnam_plastic_card_market_f orecast_to_2013

Shah, M & Clarke, S (2009) E-banking management: issues, solutions, and strategies Yurchak Printing Inc Hershey PA

Special Libraries Association (SLA) (2001) Strategic Planning Handbook [online]

SLA, Virginia Available from: http://www.sla.org/pdfs/sphand.pdf [Accessed May

Vietnam Export Import Commercial Bank (Eximbank) (2012) Cards [online] Card services Eximbank Ho Chi Minh Available at: http://www.eximbank.com.vn/en/the_sanpham.aspx

Tiêu đề	Electronic Banking In Vietnam: A SWOT Analysis For Strategic Planning
Tác giả	Dao Thi Ngoc Mai
Người hướng dẫn	Nguyen Hong Ngoc, MA, Nguyen Tien Dung, MA
Trường học	Banking Academy of Vietnam
Chuyên ngành	Foreign Languages
Thể loại	thesis
Năm xuất bản	2012
Thành phố	Hanoi

Định dạng
Số trang	63
Dung lượng	1,52 MB