John Garvey (left), Global Finanical Services leader of professional services firm PwC, and Grant Dennis (right), general director of PwC Consulting Vietnam What are the biggest trends for banks around the world right now, including Vietnam? Garvey: The emerging focus areas are, firstly, new digital competitors and how to deal with market disruption, and secondly, how to transform the current workforce for the digital age. In many places, the third major item on the minds of executives is around re-establishing trust between financial institutions, the broader populace, and regulators. That is what is driving major efforts around digitisation. With legacy financial institutions, there is a lot of work that we are doing on workforce transformation. Dennis: The global trends are only a very short way away from hitting Vietnam. Many Vietnamese banks are trying to digitise their businesses to be more customer-centric, with faster customer services. A lot of technology is being … [Read more...] about Banks gearing up for change
What are cloud services used for
Future of business lies in the cloud
Pham Hong Phong Advanced technology is taking centre stage in almost all aspects of our daily lives. How far has it transformed the way businesses operate here in Vietnam? In Vietnam, I’ve seen that IT has won the trust of local residents, enterprises, and the government, as they all perceive the clear benefits of its application in everyday life and work. In an era of digital transformation, I’ve seen the local government be very active in welcoming and promoting Industry 4.0, embracing artificial intelligence (AI), deep machine learning, blockchain, and, above all, cloud computing. Cloud computing in particular has changed how businesses go about developing their IT system. It used to be complicated, requiring the enterprises to recruit IT specialists and invest in equipment and software to deploy and operate such systems. This was costly and time-consuming. Now, with cloud computing, these issues are all solved by simply signing up with a cloud provider which equips … [Read more...] about Future of business lies in the cloud
Kaspersky launches security cloud service
Kaspersky’s adaptive protection service goes even further than conventional antivirus to protect users from problems in the digital world. — Photo Courtesy of Kaspersky Kaspersky Lab has launched Kaspersky Security Cloud, an adaptive protection service that goes even further than conventional antivirus to protect users from problems they may encounter in the digital world. Every person is unique, and the same is true for people’s online behavior, which forms their individual digital world. That is why the company’s experts have invented and patented adaptive protection technology. Kaspersky Security Cloud combines all the best elements of its flagship solutions, including market leading protection against cyberthreats, and adaptive scenarios. Adaptivity means that the service offers protection exactly when it is needed, depending on the individual’s behavior and the device they use. The new security service operates according to the unique … [Read more...] about Kaspersky launches security cloud service
ABB powers Industry 4.0 for sustainable growth
ABB Vietnam’s director Brian Hull spoke to VIR’s Phuong Thu about his company’s 25-year success story in the country as well as the path Vietnam should take to ensure sustainable growth. ABB has been a part of Vietnam’s economic development since 1993. Would you like to tell us about your performance in Vietnam? ABB entered Vietnam early and this year is an important milestone for us, as it marks our 25th anniversary. Over the last 25 years, ABB Vietnam has grown to become a reliable partner in the field of technology, providing solutions and services to the market. In addition, ABB factories in Vietnam manufacture transformers, high-voltage components, and medium-voltage power products for customers across Southeast Asia and the world. We currently employ some 900 people across Hanoi, Danang, and Ho Chi Minh City. Despite the financial crisis in 1997, which impacted the global economy with long-lasting consequences, ABB in Vietnam stayed strong, believing in … [Read more...] about ABB powers Industry 4.0 for sustainable growth
How to avoid cloud risks
Robert Trong Tran, director of Cyber Security Assurance Service at PwC, talks to VIR about how to avoid cloud security pitfalls. Potential cloud threats In Vietnam, the importance of cloud security has often been underestimated. Many business leaders still consider cloud services as the best solution for ensuring data security. This is not entirely accurate. The aforementioned incidents had several things in common. All occurred on a public cloud, where security configurations are sometimes complex, disjointed from on-premises standards, and often misunderstood. All companies could have benefited from a more detailed design and implementation of cloud infrastructure, business processes and security policies, and all suffered from a vaguely defined ‘shared responsibility model’ that created exploitable loopholes. It doesn’t end there. In the broader market, there are many common pitfalls which are often left unaddressed. According to the Lloyd’s Class of Business … [Read more...] about How to avoid cloud risks