Strengthening Information Security Measures and Ensuring Network Security

Banks should have small gifts for employees to show gratitude for their commitment and contribution to the bank; organize tours for employees on holidays and days off; create more information channels to connect employees such as forums and internal suggestion boxes.

Previously, the evaluation of work performance as well as staff evaluation had many shortcomings, not enough basis to draw objective conclusions as a basis for rewards and punishments. However, after a long period of research, SCB has now completed a set of KPI indicators for staff in the non-credit service sector, including indicators on quantity and quality in sales and customer care. It is expected that from 2019, SCB will apply a new salary calculation mechanism for staff in the non-credit service sector through the implementation of indicators. This is an innovation that SCB hopes will be the basis for correctly assessing work capacity as well as stimulating the efforts of staff.

On the other hand, SCB motivates employees through employee compensation mechanisms such as salaries, bonuses, and welfare regimes; adding health care benefits for employees' relatives such as spouses and children. In reality, joint stock banks not only compete with each other in terms of position, service quality, etc., but also compete with each other in terms of attracting human resources. Bank employees today have many choices in their work. With existing work pressures, plus unsatisfactory compensation regimes, an employee is willing to choose other banks that they feel are more suitable. Therefore, the issue of human resources is always an urgent issue that SCB needs to focus on and care about.

The 4.0 industrial revolution has had many impacts on the banking industry. These impacts are reflected in many aspects such as business organization models, product and service provision, work related to security and safety, and external factors of the banking industry. In particular, a very important issue that the banking industry focuses on is the training of human resources to be able to adapt to the very high requirements of the industrial revolution.

4.0. The 4.0 Industrial Revolution will bring opportunities for the application of smart management technology.

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AI and automation in business processes, accelerating the process towards a future standard model, including non-cash payment activities. SCB needs to focus on improving the quality and efficiency of existing human resources rather than searching for “perfect” candidates. SCB needs to regularly update and improve the knowledge and skills of existing employees through professional training courses and programs.

Human resources working at commercial banks are quite diverse in many positions, levels and nature of work. Human resources are always considered a decisive factor for all production and business processes, however, this is only true when human resources meet the requirements in terms of quantity and quality. High-quality human resources, in addition to professional qualifications, should include characteristics such as: professional ethics, love for the job, passion for work, discipline and responsibility for work, ability to adapt to new technology and high flexibility in professional work, and creativity in work. When the quality of human resources is improved, it will have a positive impact, making customers feel confident and satisfied.

4.3.2. Strengthen information security measures and ensure network security

With the development of science and technology as it is today, SCB can use many high technologies to improve information security for customers. In addition to the electronic data encryption solution, information can be secured by digital signatures, encryption/decryption on the network using advanced algorithms, hierarchical key management, application of data security policies... In addition, the leadership team and staff of the electronic banking system also need to understand information technology and the Internet to be able to manage and monitor customer information through the media. At the same time, electronic banks are still quite new in Vietnam, so many customers do not know how to handle problems when they encounter them, so the supplier must quickly support customers through technical experts. On the other hand, electronic banks have not been widely applied in the country.

Therefore, in the coming time, in order for e-banking services to be used by many businesses, suppliers should deploy new services that truly bring convenience to customers.

Specific measures are as follows:

On the part of SCB and payment service providers:

- Solutions on policy and process environment:

+ Review, complete and organize the implementation of IT security policies and IT risk management policies in compliance with State legal documents and regulations of the State Bank;

+ Develop a plan to complete the implementation of tasks specified in documents of the State Bank;

+ Develop a roadmap for implementing international security standards for IT systems as well as online payment services and card payments (ISO 27001, PCI/DSS);

+ Closely review the registration and activation processes for using e-banking services to ensure providing services to the right customers.

- Technology solutions

+ Implement risk assessment, review and security solutions for the entire life cycle of an information system.

+ Equip systems to support electronic transaction monitoring, fraud investigation, gradually synthesize and analyze customer data and build a set of rules to detect and prevent fraud early; build criteria and software to identify unusual transactions based on time, geographic location, transaction frequency, transaction amount, number of incorrect logins exceeding regulations or other unusual signs.

+ Build a network security operations center to monitor, supervise and promptly prevent network intrusions and attacks. Regularly assess weaknesses and vulnerabilities of the IT system. Develop and deploy drills of processes and scenarios to respond to network information security incidents.

- Solutions on organization, human resources, finance

+ Perfecting the IT apparatus at all levels towards specialization and mastery

technology, limiting dependence on external partners. Building a team of specialized information security officers, with ethics and discipline, to prevent collusion with cybercrime.

+ Strengthen internal audit work to ensure the safety of business operations and IT infrastructure.

+ Strengthen communication to customers about cybercrime tricks and measures to protect personal information when using electronic banking services and card payments.

+ Allocate a certain financial resource for investing in technical infrastructure and applying modern science and technology, including security technology.

- Sharing information between banks:

Information sharing between banks also needs to be enhanced to limit the risk of being attacked. Because there are very simple vulnerabilities that can be handled by simply alerting each other, but there is currently no mechanism for exchange or handling to respond in emergency situations.

SCB continues to promote and regularly instruct customers on how to take measures to prevent unnecessary risks through the following measures.

- Absolutely do not provide confidential information of electronic banking services (access password, OTP, personal email address access password) to anyone and in any form (texting, answering the phone, direct disclosure...). Only provide personal information unless proactively calling the SCB hotline for assistance and the bank requests coordination to provide customer identification information.

- Avoid accessing untrusted websites, or clicking on any links that require providing or updating personal information and electronic banking service information. After finishing using the service or completing online payment transactions, you must log out of your account. Absolutely do not choose to save your Internet Banking login password on shared devices, public computers, etc.

- Users need to protect and regularly change passwords to access electronic banking services, cards, e-mail and set passwords to ensure safety principles. Prioritize using personal computers with updated anti-virus software installed to access the bank's electronic banking services.

- Regularly update operating system and new software from the supplier, avoid updates from fake sources.

- With credit cards: In addition to not lending the card to others and keeping the card carefully, customers should not leave too much money in the ATM card or set the lowest limit possible for the credit card. In addition, cardholders should proactively deactivate the Internet Banking service when not in use and reactivate it when needed; register for SMS Banking service to promptly grasp the arising transactions. This is also an effective measure to protect the account.

To improve the quantity and quality of non-credit services, SCB needs to perfect its strategy for developing non-credit services.

4.3.1.1 Development of new DVPTD

The process of developing new DVPTD of the bank should follow these steps:

Step 1: New DVPTD Strategy

To ensure the success of developing new consumer services, the State Bank of Vietnam conducts a tight and systematic organization to coordinate all resources of the Bank in implementing the goal of developing new consumer services. Therefore, the first task of the Bank is to build a strategy for developing new consumer services. The basic content of the strategy is to determine the goal of developing new consumer services, orient the formation of ideas for developing new consumer services and determine the content of that new consumer services.

Step 2: Idea generation

Creating new ideas for developing DVPTD is extremely rich and diverse but very difficult and can be formed from within or outside the bank. Within the bank, groups are responsible for forming initial ideas for DVPTD.

New ideas for forming new service providers can come from experienced staff in the process of dealing with customers, or from market research results and information collected from customers. They can also come from sources outside the bank through collecting ideas from organizations developing new services, or learning from the experiences of other banks. They can even copy service ideas from domestic and foreign banks.

Step 3: Choose an idea

The idea of new consumer credit services must be consistent with the bank's consumer credit strategy and must achieve goals such as improving the bank's image, increasing its competitiveness, being attractive to a certain market segment and bringing profits to the bank. To consider whether the idea of new consumer credit services meets the set goals, the bank must evaluate and select the ideas. The selection of ideas for developing new consumer credit services must be carried out strictly through evaluating and ranking the ideas according to certain criteria. On that basis, the bank selects ideas that are suitable for both the needs of customers and the actual capabilities of the bank to ensure its feasibility.

Step 4: Testing and verification

The idea of developing new banking services selected must be specific in developing the characteristics and attributes of banking services, especially the development of new banking services must create a difference compared to the services of competitors. To ensure the effectiveness of new banking services, banks should conduct testing and verification of new banking services on a group of customers and the market, thereby capturing the reactions of customers and the market. From there, banks can proactively make appropriate adjustments before launching new banking services into the market. However, in the banking sector, verification activities are often carried out secretly in a short period of time, because verification often alerts competitors and even the idea of new banking services can be easily copied and imitated quickly.

Step 5: Bring the service to market

After testing and verification, the bank needs to evaluate the success of the new DVPTD. On that basis, it will decide to launch the new DVPTD. The launch

New DVPTD entering the market is the most important stage, because it is the real test of the results of the development of new DVPTD of the bank in the market.

Therefore, when launching a new consumer service to the market, banks should focus on solving a number of issues such as determining the time to launch the new consumer service to the market, the locations or market areas that need to be focused on, and even designating the first branch or transaction counter to provide the new consumer service. At the same time, banks need to use supporting marketing measures such as implementing a massive advertising campaign, promoting the new consumer service on mass media, holding press conferences to introduce the consumer service, promotions, and stimulating customers to use the first consumer service...

Although there are many difficulties in predicting and measuring the success of the new DVPTD development policy. However, to achieve the success of the new DVPTD development program, the Bank needs to pay attention to investing in issues such as:

It is necessary to maintain a regular relationship with the external environment to grasp changes in environmental factors, especially the needs and demands of customers. The selection and design of services must ensure quality, suitable for customers' needs, based on a careful analysis of the constituent elements of the service.

SCB needs to build and develop the bank's business culture to encourage creative ideas and create a creative atmosphere within the bank. A flexible management mechanism will encourage the development of new consumer services within the bank. SCB needs to train a team of highly qualified and capable staff specializing in developing new consumer services. In addition, SCB must pay attention to the interests of individuals, those who participate and are responsible for developing new consumer services of the bank.

4.3.1.2 Improving the quality of public services

Service quality affects the development of consumer services at banks. With high quality services, customers are likely to continue using the service as well as recommend the service to their friends and relatives. This is a way to expand the market sustainably. Currently, the quality of

The DVPTD services provided by SCB are rated quite well. This is reflected in the safety, convenience of the products and services, the service attitude and dedicated care for customers; the understanding of customers' needs and desires for non-credit services provided by SCB. The limitation comes from the problem of errors in the service provision process, due to many reasons such as human errors, machine errors, and technology errors. To overcome these limitations, the following solutions must be implemented.

First : Change the perception and sales perspective from the goal of " completing the business plan and achieving high profits " to the goal of " maximizing customer needs to thereby complete the business plan and increase profits ". Only then can DVPTD activities create a solid foundation and achieve strategic successes.

Second : Improve the quality of customer service, in addition to researching and improving the services provided, SCB needs to pay more attention to the quality of direct transactions with customers, ensuring customer satisfaction when using banking services. The bank's operations are more professional, the bank's management level is increasingly more scientific, with great support from banking technology (Core banking), SCB needs to simplify documents and procedures to make transactions with the bank faster and more accurate, creating comfort for customers when using SCB's banking services. In fact, customers when transacting at SCB also complain about some issues such as: unprofessional transaction flow causing customers to move many times through transaction counters, not fully equipped with number taking machines to perform transactions causing customers to wait impatiently for transactions, not having a separate VIP customer service counter; ... Therefore, SCB needs to seriously improve this situation in the coming time.

Third : Service quality depends largely on the working style and transaction culture of bank employees. Professionalism in service provision is also an important factor for developing consumer services. Increasing professionalism in service provision is a basic factor considered important for developing services in competitive and integrated conditions. Professionalism is also demonstrated in the way

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