IMPACT OF FINTECH ENTERPRISES ON BANKING BUSINESS ACTIVITIES AND THE POSTED ISSUES TO VIETNAM

Abstract

In recent years, there has been a heated debate in Vietnam’s financial sector
about the role and position of Fintech enterprises in the innovation and development of
financial institutions. Most of opinions assert that the operation of Fintechs would help to
promote technological innovation in the financial sector and bring many benefits to consumers
as well as to promote the development of Vietnamese financial markets. However, the question
now is how the operation of Fintech businesses effects on the banking business? How can the
positive impacts of Fintech activities be promoted to improve the operational efficiency of
commercial banks in particular and the development of the financial market in general? This
question has been continuing to be a practical requirement that needs a satisfactory answer.
This article will focus on the establishment and operation of Fintech and possible impacts on
banking activities That will make some suggestion for Vietnam.