TECHNOLOGY QUALITY MANAGEMENT OF THE INDUSTRY 4.0 AND CYBERSECURITY RISK MANAGEMENT ON CURRENT BANKING ACTIVITIES IN EMERGING MARKETS - THE CASE IN VIETNAM

Abstract

Industry 4.0 and digital technology has been affecting banking activities in most of bank system in emerging markets, esp. in Vietnam, one of the countries having high economic growth in ASEAN nations; so, quality management of technology issues and cyber security management are rising. There are main technologies in 4.0 revolution to process information including: Big Data database technologies, Cloud Computing, Machine Learning, IoT, AI, Business Intelligence, Data Mining and Blockchain Technologies. These technologies are successively implemented in developed and improved security procedures IT and cybersecurity risk management. Also changes to the operating environment IT can occur suddenly and without warning, such as under the COVID-19 international emergency. As the critical sector financial is adapting to expanded remote operations, there is the potential for increased vulnerabilities and potential amplification of the effect of cybersecurity threats. Therefore, organizations need to own the ability to make in new ICT and cybersecurity investments to quickly and effectively adapt to address unforeseen circumstances for better quality management of technology.

Keywords

• cybersecurity risk management
• technology quality management
• ict technology law
• e-commerce
• blockchain
• technology era
• banking activities
• fintech
• cloud technology
• virtual or digital currency
• policies
• sustainable development
• industry 4.0