E ISSN: 2583-049X

International Journal of Advanced Multidisciplinary Research and Studies

Volume 3, Issue 6, 2023

Fintech's Influence on Payment Services of Commercial Banks in the Post COVID-19 Context

Author(s): Nguyen Tien Dung, Nguyen Thi Thuy Nga


In the post Covid 19 context, the rapid increase in financial services applying Fintech technology has impacted and drastically changed the provision of financial and banking services by promoting the big data for individuals and businesses through advances in artificial intelligence, computing power, encryption and internet accessibility. The development of Fintech companies has posed many opportunities and challenges for traditional business models globally in general and Vietnam in particular, especially for commercial banks in the payment sector. Based on analyzing the current development status of Fintech and assessing the impact of Fintech on payment services of commercial banks in Vietnam, the article hopes to give some recommendations to help commercial banks have can be applied in the future such as: needing to secure transactions in the system, adding electronic payment methods, developing new distribution channels; improve data security system upgrades; technology improvements; recruitment and training of human resources; Cooperate with Fintech companies to create added value for customers.

Keywords: Fintech, Commercial Banking, Payment, Covid-19

Pages: 380-384

Download Full Article: Click Here