What are the most significant cases or transactions that you have been involved in over the past year?

The most significant project that the Legal team at M_Service worked on over the past year was preparing for compliance with biometric authentication requirements as mandated by the State Bank of Vietnam. Since July 2024, Vietnam became the first country in the world to adeopt a biometric authentication mechanism for all online banking and e-wallet users. As one of the largest fintech companies in the market, M_Service has considerable advantages in utilising technology to meet this new regulation. Implementing biometric authentication will enhance the security and safety of our online services.

However, the implementation of this new regulation also posed several challenges. My team had to work diligently over the past few months to advise management and business teams on relevant compliance matters, propose practical solutions to regulators for implementing the regulation, and negotiate and sign contracts with partners, including over 30 banks, for technical integration and compliance. Currently, the number of our authenticated customers is on par with the largest banks in Vietnam and significantly ahead of other payment companies and e-wallet providers.

Are the effects of AI on the legal world overplayed, or underplayed?

Opinions on the impact of AI vary depending on one’s perspective, and its effects differ across different types of work. At M_Service, we believe that AI will be a fundamental force in shaping the future economy, and our management has encouraged all units and departments, including Legal, to explore ways to incorporate AI into their operations. In a current internal AI competition, four members of the Legal team scored the highest, and they were all junior team members. Personally, I have also started using AI to assist with basic tasks such as summarising documents, proofreading, and drafting non-legal communications. I was quite surprised by how effective AI has been, meeting about 70-80% of my requirements and saving me hours of lower-level work.

Of course, at this early stage, it is unrealistic to expect AI to handle complex tasks or deliver high-quality results. However, the achievements of AI are just a matter of time. AI will gradually replace lower- and mid-level tasks in the legal field, requiring legal professionals to fundamentally change their skills and perspectives on their work.