Skip to content Skip to footer
Search

Loading Results

What’s next in digital upskilling for the Financial services (FS) sector?

Findings from PwC Vietnam’s Digital Readiness survey 2020



 



97%

of C-Suite members of the FS sector believe that technology will greatly improve their future employability.

49%

of office staff in this sector express strong concerns about job security caused by automation.

50%

of top management and C-Suite members of the FS industry anticipate serious changes to their jobs in 10 years’ time.

49%

of FS workers have a strong desire to improve their knowledge and usage of new technologies.

Leading Vietnam’s digital agenda

Following a clear plan for digital transformation set by the State Bank of Vietnam¹, the financial services (FS) sector is taking a pioneering role in establishing a fully digitised, human-centered system for the nation. Vietnamese banks are pursuing different orientations to digital banking, notable examples include Vietcombank, TPBank, Techcombank, VPBank etc. With disruptions just around the corner, how will the FS sector go about upskilling their people? 

This FS report is an extract from our Digital Readiness Survey which centers around technology, jobs and skills. 1146 responses were collected. The base for this FS sector report is 160. Please read on and see how the FS sector is responding to the race towards digital transformation in Vietnam.

Read the full report

Technology is rapidly reshaping the financial services (FS) workforce. To deploy technology successfully, organisations in the FS sector will need to start paying more attention to how humans and digital labour can work alongside each other.

Dinh Hong Hanh, Partner - Financial Services Consulting Leader

Disruptions are right around the corner

97% of C-Suite members of the FS sector believe that technology will greatly improve their future employability

This finding shows FS leaders welcome digital changes as positive opportunities that can effectively enhance their job prospects in the future, while 85% of office employees and staff share the same sentiment. 

49% of office staff in this sector express strong concerns about job security caused by automation

This group of workers exhibits the highest level of job risk fears. This resonates with WEF’s Future of Work² report which outlines several jobs that will be made redundant by technology in the future, including: financial analysts, data entry clerks and bank tellers.

50% of top management and C-Suite members of the FS industry anticipate serious changes to their jobs in 10 years’ time

FS leaders anticipate pressing changes with 50% of them believe that their job will be mostly or completely different in 10 years’ time, as compared to other job levels (Managers/Specialists - 30% and Office staff - 41%). 

49% of FS workers have a strong desire to improve their knowledge and usage of new technologies

Respondents from the FS sector also show a greater willingness to become more proficient in a specific technology (38%), which is higher than that of the general Vietnamese population (34%).

Brace for impact - How to sustain momentum?

Great strides that have been made in the upskilling agenda. In order to sustain and further protect success, upskilling needs to be approached from multiple facets: from individual efforts, enterprise-wide initiatives to a holistic, industry-led programme. 
 
 

If you have any questions or business inquiries, please fill in the form below and submit to us

Required fields are marked with an asterisk(*)

By submitting your email address, you acknowledge that you have read the Privacy Statement and that you consent to our processing data in accordance with the Privacy Statement (including international transfers). If you change your mind at any time about wishing to receive the information from us, you can send us an email message using the Contact Us page.

Get in touch

Dinh Hong Hanh

Partner, Financial Services Consulting, PricewaterhouseCoopers Consulting Vietnam

Tel: +84 904 178 556

Vo Tan Long

Partner, Consulting Services Leader / Chief Digital Officer, PricewaterhouseCoopers Consulting Vietnam

Tel: +84 24 3946 2246, ext. 1606

David Tay

Markets Director, PwC Vietnam

Tel: +84 28 3823 0796, Ext. 4691

Christopher Lee (Aik Sern)

Senior Manager, Management Consulting, PricewaterhouseCoopers Consulting Vietnam

Tel: +84 28 3823 0796 Ext. 1636

Nguyen Hien Giang

Senior Manager, Management Consulting, PricewaterhouseCoopers Consulting Vietnam

Tel: +84 24 3946 2246 Ext. 3315

Hide