Application of open finance in the development of digital banking services in Vietnam

In Vietnam, alongside the rapid development of digital banking, open finance is considered a key foundation enabling commercial banks to enhance connectivity with fintech ecosystems, personalize products, and improve competitiveness. However, implementation faces challenges related to legal frameworks, data standards, information security, and user awareness. This study analyzes the current state of open finance adoption in digital banking services in Vietnam, identifies opportunities and challenges, and proposes solutions to promote its development.