Abstract

Banking digital transformation is fundamentally reshaping the initiation and execution of financial transactions while intensifying information asymmetry between credit institutions and financial consumers. In this context, information transparency has become a central legal safeguard for ensuring consumers’ informed decision- making and autonomy. Vietnamese law recognizes the right to information and imposes disclosure obligations on credit institutions through legislation on consumer protection, credit institutions, and electronic transactions. However, the current framework largely ensures transparency in a formal sense and has yet to fully address the distinctive challenges of the digital environment, particularly in relation to automated decision-making and digital platform design. This article analyzes the legal framework governing information transparency in financial consumer protection amid banking digital transformation, identifies key limitations, and proposes reforms aimed at strengthening substantive transparency, extending disclosure obligations to algorithmic processes, and enhancing enforcement mechanisms.

Keywords: Automated decision-making, banking digital transformation, financial consumer protection, information asymmetry, information transparency