| Author | Vu Dac Ha |
| Call Number | AIT Proj. no.PM-BADT-24-03 |
| Subject(s) | Finance, Personal--Data processing--Vietnam
|
| Note | A project report submitted in partial fulfillment of the requirements for the degree of Professional Master in Business Analytics and Digital Transformation |
| Publisher | Asian Institute of Technology |
| Abstract | The fast development of digital financial services in Vietnam has created both opportunities and challenges for those seeking effective Personal Financial Management (PFM). The fragmentation of financial data across platforms hinders the ability to acquire a clear view of financial health, which impacts budgeting, cost tracking, and informed decision-making. In order to mitigate the fragmented financial data on PFM topic, the study takes a mixed-methods approach, collecting data from people who are actively managing their finances through qualitative interviews and quantitative surveys. The investigation of the current state of PFM showed that Vietnamese are dynamic in financial activities, with an average 6.3 financial service accounts. Participants achieving a good level in PFM in understanding the concept and vastly practicing PFM activities. The research also reconfirmed the positive impacts of existing financial digital solutions on daily life, with overall usage meeting 92%. Data consolidation is believed to bring positive impacts as well when acquired at 4.16 out of 5 on the benchmark. The survey on the arising needs and wants indicated the high demand of improving PFM when 76% dissatisfied with the current financial health, urge for advancements, and 100% willing to the financial data consolidation solutions but also mentioned about the worries about data privacy and security, combined with the lack of uniform data standards, which may limit the widespread adoption of such solutions. The research concludes by making recommendations for developing user-centric digital solutions, promoting financial literacy, and establishing data standards to improve PFM in Vietnam's expanding digital era. |
| Year | 2024 |
| Type | Project |
| School | School of Management |
| Department | Other Field of Studies (No Department) |
| Academic Program/FoS | Professional Master in Business Analytics and Digital Transformation (PMBADT) |
| Chairperson(s) | Fischer, Fabrice ; |
| Examination Committee(s) | Galipeau, David;Boutet, Carl; |