Online lending data security

Many credit institutions disburse loans through digital banking.

Inevitable trends in digital ecosystem

Instead of having to go to the counter, prepare many documents and wait for approval for a long time, customers now only need a few steps online to complete the loan process. This helps save time, social costs and expand access to capital for all subjects.

Vietnamese commercial banks have simultaneously invested heavily in technology, integrating artificial intelligence (AI), big data, biometrics, electronic contracts and digital signatures into the lending process. Thanks to that, transactions are increasingly safe, fast and convenient. Not only stopping at payment, digital technology has penetrated deeply into credit appraisal, risk management and customer behavior analysis. Associate Professor, Dr. Dang Ngoc Duc, Director of the Institute of Financial Technology, Dai Nam University said: "Integrating AI, Big Data, Machine Learning into credit approval helps reduce risks, increase file processing speed and improve customer experience. The period 2021-2025 is the hinge for digital credit to develop more transparently and comprehensively."

Integrating AI, Big Data, and Machine Learning into credit approval helps reduce risks, speed up application processing, and improve customer experience. The 2021-2025 period is the hinge for digital credit to develop more transparently and comprehensively.
Associate Professor, Dr. Dang Ngoc Duc, Director of the Institute of Financial Technology, Dai Nam University

In fact, many banks have recorded outstanding loan growth rates from digital channels that far exceeded expectations, while expanding their service coverage to rural, remote and isolated areas, where traditional financial services are difficult to access. One of the groups that benefit the most from online lending is small and micro enterprises (SMEs). Currently, SMEs account for 97% of the total number of businesses in Vietnam, contributing about 40% of the workforce, but have difficulty accessing capital due to lack of documentation, complicated procedures, and high borrowing costs.

To overcome these difficulties, many digital connection platforms have been deployed. A typical example is MISA Lending, a digital financial ecosystem based on accounting data, electronic invoices, and actual cash flow of businesses.

Ms. Nguyen Thi Ngoan, Chief Financial Officer of MISA, said: With nearly 400,000 businesses using cloud services, MISA Lending provides “live” data, allowing banks to assess risks in real time, limit bad debt and speed up disbursement. To date, MISA has connected with 11 banks, granted a limit of nearly 16,000 billion VND and disbursed about 30,000 billion VND, with a loan success rate of 30%, 10 times higher than the traditional model.

Along with the business sector, commercial banks are also promoting the digitalization of credit activities. MBBank is currently one of the pioneers in comprehensively implementing online lending. Ms. Le Thi Thuy Ha, Director of Digital Lending Project, MBBank Digital Banking Division, said: On the MBBank APP application, the bank is serving more than 33 million individual customers, 100% of unsecured consumer loans have been made, registered and disbursed online. Notably, more than 90% of production and business loans are also disbursed through digital channels, with cumulative sales of more than 165,000 billion VND in just 8 months of 2025. In addition, the Biz MBBank platform serves more than 350,000 corporate customers, of which 100% of micro-enterprises receive capital through online channels. All transactions use electronic contracts and digital signatures.

Perfecting the legal system, ensuring system safety

The rapid development of online lending also poses urgent requirements for the legal framework and system safety. The State Bank has recently issued documents to complete the legal corridor, such as Circular 06/2023 supplementing regulations on electronic lending in Circular 39/2016, creating favorable conditions for credit institutions to digitize services. In particular, Decree 94/2025/ND-CP on the controlled testing mechanism has paved the way for the peer-to-peer lending (P2P Lending) model. This is the first time Vietnam has allowed practical testing but within a framework of strict supervision, both expanding capital channels and ensuring system safety. Associate Professor, Dr. Dang Ngoc Duc commented: "When national data on population, taxes and credit are connected, banks can accurately assess debt repayment capacity in real time, thereby expanding credit to customers with no history of borrowing."

Protecting data in the payment sector and ensuring the legitimate rights of users of banking and financial services in the online environment is very important.
Mr. Pham Anh Tuan, Director of Payment Department (State Bank of Vietnam)

According to Mr. Pham Anh Tuan, Director of the Payment Department (State Bank of Vietnam), protecting data in the payment sector and ensuring the legitimate rights of users of banking and financial services in the online environment is very important. Banks need to continue investing in upgrading security infrastructure, regularly updating new technology solutions, and at the same time building a network security monitoring system using artificial intelligence (AI). In particular, when expanding international payment connections and online lending, the problem of network security and data protection becomes more complicated due to the requirement of interconnectivity between many systems with different security standards.

Training and retraining of banking human resources from senior management to professional staff is the key to the smooth operation of the online credit platform. At the same time, it is necessary to form a workforce capable of inter-disciplinary coordination between finance, technology and risk management. This is a decisive factor to help banks both master professional expertise and quickly adapt to digital technology.

HONG ANH

Source: https://nhandan.vn/an-toan-du-lieu-cho-vay-truc-tuyen-post908810.html