Innovation strategies: Lessons for the Vietnamese banking sector

Abstract

The Vietnamese banking industry is confronting numerous challenges, including sluggish growth, competition from financial technology (FinTech) companies, and rising customer demand for enhanced digital experiences. This study explored the experiences of international banks, particularly those that have successfully implemented innovative strategies. By analyzing these cases, the study provided valuable insights and practical lessons, offering strategic recommendations to help Vietnamese banks adapt to the evolving financial landscape and meet customer expectations more effectively.
Keywords
innovation bank experiences banking system

References

1.
Quốc hội nước CHXHCN Việt Nam (2013). Luật Khoa học và Công nghệ, số 29/2013/QH13, ban hành ngày 18 tháng 6 năm 2013.
2.
Brown S. L., & Eisenhardt K. M. (1995). Product development: Past research, present findings, and future directions. Academy of Management Review, 20(2), 343-378.
3.
Đỗ Anh Đức (2020). Đổi mới sáng tạo tại Việt Nam trong bối cảnh công nghiệp 4.0. Tạp chí Kinh tế và Quản lý, 33, 57-60.
4.
Matzler K., Bailom F., von den Eichen S. F., & Kohler T. (2013). Business model innovation: coffee triumphs for Nespresso. Journal of Business Strategy, 34(2), 30-37.
5.
Kuratko D. F., Covin J. G., & Hornsby J. S. (2014). Why implementing corporate innovation is so difficult. Business Horizons, 57(5), 647-655.
6.
OECD (2018). Oslo Manual 2018: Guidelines for Collecting, Reporting and Using Data on Innovation. 4th Edition, The Measurement of Scientific, Technological and Innovation Activities, OECD Publishing, Paris/Eurostat, Luxembourg. https://doi.org/10.1787/9789264304604-en.
7.
Žižlavský O. (2013). Past, present and future of the innovation process. International Journal of Engineering Business Management, 5(47), 1-8.