Vietnamese innovation shaping the future of digital transformation on the global stage

In 2023, Vietnam's digital economy contributed over $20.5 billion in e-commerce revenue, and exports of digital products reached $117 billion. As the country continues to make strides in the tech sector, NAB Vietnam stands out as a prime example of how international businesses are leveraging local talent to shape the future of technology.

National Australia Bank (NAB), one of Australia’s largest financial institutions, has been at the forefront of digital transformation. In 2019, NAB strategically expanded into Vietnam by establishing the NAB Innovation Centre.

This decision was driven by Vietnam’s exceptional tech talent and innovation-focused workforce, enabling NAB to accelerate its global digital transformation journey and find relevant skills and capabilities the bank needed. This expansion has helped NAB tap into deeper talent pools and improve its ability to serve and support customers 24/7 - complementing Australian-based colleagues leveraging multiple global time zones.

In just five years, NAB Vietnam has positioned itself as a key contributor to the country’s tech ecosystem. By 2024, the Centre employed over 1,500 technologists, including software developers, security specialist, and digital designers, working on delivering cutting-edge solutions to NAB’s 10 million customers worldwide.

Beyond its technological achievements, NAB Vietnam has been focusing on creating an inclusive and innovative workplace culture. The centre has implemented numerous programmes to support the development of its employees, from cloud certifications to leadership training. This commitment has earned NAB Vietnam prestigious accolades, including 'Great Place to Work' at the HR Asia Awards and 'Corporate Excellence' at the 2024 Asia-Pacific Enterprise Awards.

Panellists and moderator at the NAB Innovation Summit for Leaders 2024. Photo: NAB Vietnam

In line with its mission to foster innovation and support the growth of Vietnam’s tech sector, NAB Innovation Centre Vietnam (NAB Vietnam) organised its inaugural Innovation Summit for Leaders on October 18 at its premises.

The event, themed 'Future of Digital Transformation', brought together a distinguished panel of experts and offered an exclusive platform for over 60 industry leaders to share insights on emerging trends and explore future strategies.

Howard Silby, general director of NAB Vietnam, opened the summit by emphasising the immense potential of Vietnam for international investment in digital transformation.

“There is a huge potential for foreign companies to invest in digital transformation in Vietnam. Vietnam has an exceptionally talented tech workforce and as more companies like NAB demonstrate the ability to serve global markets, others will follow,” Silby said.

This potential is evident in NAB Vietnam's own experience. Since its establishment in 2019, NAB Innovation Centre has harnessed the expertise of local tech workforce, particularly in areas such as cloud computing, software development, and data analytics, which have been instrumental in helping NAB deliver pioneering solutions to their global customer base.

Frank Luong, chief information officer of OCB Vietnam, reinforced the importance of agility and continuous innovation in the face of rapid technological advancements.

“It’s essential for organisations to remain agile and continuously innovate in a rapidly changing digital landscape. We should emphasise collaboration and communication, foster cross-functional teams, and encourage open communication channels,” he explained.

Frank further highlighted the significance of creating a culture of experimentation and learning to help organisations adapt and thrive.

Expanding on the disruptive role of AI and how organisations should adapt, Linh Thai, CEO of Skills Bridge Vietnam, called for companies to prioritise AI education.

“There should be AI classes – teaching how to use AI to do the base manual work, but then incorporating the human judgement to make the work truly unique and value-adding.”

She emphasised the value of offering AI training programmed to equip the workforce with the necessary skills, enabling organisations to effectively integrate AI into their operations and remain competitive.

Thanh Nguyen, chief technology officer at McKinsey Vietnam, stressed the need for clear goal-setting and evaluating outcomes in digital transformation initiatives.

“Answering what value and impact the initiative is going to bring to your business is a crucial step of measuring success,” Thanh noted.

His focus on goal alignment highlighted the significance of strategic planning in achieving meaningful results from digital transformation efforts.

Howard Silby, general director of NAB Vietnam, presenting at the summit. Photo: NAB Vietnam

NAB Vietnam’s role in advancing digital transformation is a testament to the broader trends reshaping industries across the globe. The Centre’s innovation-first approach has not only strengthened its own operations but has also contributed significantly to the growth of Vietnam’s technology sector.

As the digital revolution continues to gain momentum, events like the NAB Innovation Summit for Leaders provide invaluable opportunities for thought leaders to collaborate and share insights. With industry experts driving the conversation, businesses in Vietnam and beyond are well-positioned to navigate the challenges and opportunities presented by digital transformation.

With a talented workforce and clear vision for sustainable growth, NAB Vietnam is set to remain one of the leaders in the innovation and digital transformation, setting a strong example for others in the industry.

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