BANKING SECTOR’S ACTIVITIES IN THE CONTEXT OF THE 4th INDUSTRIAL REVOLUTION

Abstract

The 4^th industrial revolution is creating many new opportunities for the development of the world economy in general and in Vietnam in particular. However, accompanying development opportunities are challenges for all sectors of society, including the banking sector. By assessing the impact of the 4th industrial revolution on the overall economy and the banking sector, the paper analyzes opportunities, difficulties, challenges and issues to be addressed in which the 4th industrial revolution brings to the banking sector. Based on the analysis, the authors offer some solutions and recommendations for Vietnamese banks to well-operated and increase competitiveness in the future.

Keywords: the 4^th industrial revolution, banking sector, challenges, opportunities