Promoting the application of digital technology in policy credit management

Staff of Dong Hy District Social Policy Bank guide people in Song Cau town to install VBSP smartbanking application to manage policy credit.

Up to now, the provincial Social Policy Bank (SPB) is managing over 113,400 customers, with a total outstanding debt of over VND 5,361 billion.

Due to the large number of loan customers, spread across rural, mountainous, and remote areas, promoting digitalization not only helps improve the unit's operational efficiency but also brings practical benefits to the people.

With the goal of "bringing banking closer to the people", Thai Nguyen Provincial People's Credit Fund has deployed a series of technological solutions to modernize policy credit activities. Loan applications are digitized and processed online; people can track the progress of application processing, repayment schedules and transactions easily via Mobile Banking, Internet Banking without having to travel many times.

Big Data and artificial intelligence (AI) technology are also applied to assess credit quality, screen risks and support lending decisions. In particular, connecting with the National Population Database has helped the VBSP authenticate borrower information more accurately and transparently.

Ms. Khuong Thi Mao, in Co 2 residential group, Giang Tien town (Phu Luong), said: In the past, I often had to go to the commune People's Committee headquarters several times to complete the loan application. Now, I only need to use my phone to check the application processing progress, which is very convenient and saves time.

Not stopping there, the provincial People's Credit Fund is also applying blockchain technology to secure data and make transactions transparent, minimizing fraud and errors. Thanks to that, the operating process is optimized, reducing costs and increasing efficiency.

However, the process of promoting digitalization in operations is not without obstacles. In mountainous and remote districts with many difficulties (such as Vo Nhai and Dinh Hoa), the Internet infrastructure is not stable and smart devices are not yet popular, leading to limited access to digital services.

Some people, especially the elderly, are still hesitant or not proficient in using mobile applications. Ms. Ban Thi Minh, in Dong Dinh hamlet, Kim Phuong commune (Dinh Hoa), shared: I am afraid that if I make a mistake, I might lose money, so I still choose to go to the transaction point in the commune to be sure.

In addition, challenges in network security and data security are also issues that the provincial People's Credit Fund puts on top, especially in the context of high-tech crimes with increasingly sophisticated fraud and property appropriation methods.

A household in Tan Long commune (Dong Hy) received policy loans to develop production and improve income and living standards.

For digital transformation to truly spread to every household, the role of savings and loan groups at the grassroots level is very important. Mr. Nong Quy Hoi, Head of the savings and loan group in Dong Moi hamlet, Phu Thuong commune (Vo Nhai), said: Technology helps us save a lot of time in our operations, but for older customers, we need more specific and easy-to-understand instructions.

Mr. Nguyen Quang Thinh, Director of the Provincial Social Policy Bank: Promoting digital transformation is an inevitable trend today. We are expanding our customer support system, promoting communication, and improving digital skills for people and officials of associations and organizations. At the same time, we are investing heavily in information security infrastructure so that people can borrow money and make transactions with peace of mind.

Applying technology not only helps the provincial People's Credit Fund manage its operations more effectively, but most importantly, it provides opportunities for poor and near-poor households and people in disadvantaged areas to access capital quickly, transparently and safely. This is also an important step in ensuring social security and sustainable poverty reduction in the digital age.

Digital transformation is not just a technology story. It is a journey to change the approach, the way of serving and the way of living - so that every dollar of policy capital reaches the right target, at the right time and brings value and effectiveness to life.

In order for digital transformation in the policy credit sector to truly “touch” the people, the coming time requires close coordination from three sides: Local authorities - banks - people. In particular, prioritizing internet coverage in disadvantaged areas, raising digital awareness and training basic technology skills for people are the key "keys".

Source: https://baothainguyen.vn/xa-hoi/202505/day-manh-ung-dung-cong-nghe-so-quan-ly-tin-dung-chinh-sach-fb22456/