Open Banking is a new trend in the banking and finance industry, and if successfully implemented in Vietnam will promote the strong development of financial and non-financial services, with many utilities being available to customers. The process also indirectly promotes digital transformation in the banking industry, which is the lifeblood of the economy. It is also among the important pillars of the National Digital Transformation Strategy to 2025 with a vision to 2030, approved by the government. As a new trend, however, the banking industry is still in the process of finding the best way to develop Open Banking. This requires cooperation from many ministries and sectors and especially market members, who will directly participate and benefit from the model.