Summary of Master thesis: Solutions for digital banking development at Vietcombank – Hoan Kiem Branch

The rapid digital transformation reshaping the global banking industry underscores the critical need for financial institutions to embrace technological advancements. In Vietnam, while digital banking services are actively promoted, achieving widespread customer adoption remains a key challenge for many branches. This study addresses this imperative by focusing on Vietcombank – Hoan Kiem Branch, where despite the launch of VCB Digibank, concerns regarding security, privacy, or usability limit its full potential. Understanding the factors influencing customers' decisions to adopt digital banking services is paramount for enhancing service effectiveness and maintaining competitiveness. This research aims to identify these pivotal factors and propose targeted recommendations to bolster adoption and support the bank's digital transformation strategy.

Banking sector professionals, particularly those involved in digital transformation and customer experience at commercial banks in Vietnam; academic researchers in finance, banking, and technology adoption; and policymakers interested in financial inclusion and digital economy development.

This thesis comprehensively examines the factors influencing customers' decisions to adopt digital banking services, specifically VCB Digibank, at Vietcombank – Hoan Kiem Branch during 2020–2024. The research provides crucial insights into customer behavior amidst Vietnam's accelerated digital transformation in the banking sector. Methodologically, the study employed a quantitative approach, collecting primary data from 239 individual customers through structured questionnaires. It utilized Structural Equation Modeling (SEM) to test hypotheses derived from an analytical framework based on the Technology Acceptance Model (TAM) and the Theory of Planned Behavior (TPB), augmented with additional variables pertinent to the digital banking environment. Key findings reveal that all seven variables investigated—Perceived Usefulness, Perceived Ease of Use, Perceived Cost, Perceived Risk, Attitude Toward Use, Subjective Norm, and Perceived Behavioral Control—significantly impact digital banking adoption. Notably, Perceived Ease of Use and Perceived Risk emerged as the strongest determinants, with ease of use fostering adoption and perceived risk hindering it due to security and privacy concerns. Other factors like perceived usefulness and subjective norms also significantly shape user attitudes. The study concludes by offering practical managerial implications for Vietcombank Hoan Kiem Branch, suggesting interface simplification, enhanced cybersecurity, improved communication of benefits, and personalized digital services to boost customer satisfaction. This research contributes significantly to the understanding of digital banking adoption in Vietnam, providing actionable recommendations for Vietcombank and other commercial banks to improve customer experience and accelerate their digital transformation journeys.