Improve the quality of policy credit services

Aiming to improve service quality, create favorable conditions for poor households and policy beneficiaries to access digital banking utilities, the Vietnam Bank for Social Policies - Thanh Hoa Branch (VBSP Thanh Hoa) has actively implemented modern, convenient applications, and diversified digital products and services. Thereby, bringing many utilities to customers, ensuring loan needs, flexible payment, information security, cost savings and transaction time.

Staff of the Social Policy Bank of Trieu Son guides people to use the Mobile Banking service of the Social Policy Bank.

From March 2023, Thanh Hoa Social Policy Bank has deployed the VBSP Smart Banking application on smartphones. This application helps customers save time, travel costs, access non-cash payment services, while improving service quality, diversifying products and services, closely managing debt reconciliation, deposit balance, and reducing risk ratios in the unit's credit activities. Quang Xuong Social Policy Bank is one of the units that effectively deployed the VBSP Smart Banking application to poor households and policy beneficiaries. It is known that immediately after the policy was issued, Quang Xuong Social Policy Bank has promoted propaganda about the practical benefits of the application so that people can quickly access it. For the leaders of the savings and loan groups (TTK&VV), the bank has trained and instructed the leaders to use the policy credit management software. This software has helped the TTK&VV group leaders save time and effort, and effectively carry out the work of urging and checking the use of preferential capital by members of the loan group.

Previously, Mr. Nguyen Thanh Tuyen - Head of TTK&VV of the Farmers' Association of Loc Xa village, Quang Long commune (Quang Xuong) had to look at the book every time he wanted to monitor the loan capital of his members to remind them to pay interest and collect debts every month. But now, thanks to the capital management software through the VBSP Smart Banking application, all you need is a smartphone with the installation

Internet, he can look up information about borrowers, the process of each loan program; grasp detailed information on monthly interest and principal payments and send specific notifications to each borrower. Thanks to that, just sitting at home, Mr. Tuyen still earns interest thanks to the Mobile Banking electronic banking service application of the Social Policy Bank. It is known that the TTK&VV managed by Mr. Tuyen has an outstanding debt of nearly 2 billion VND with borrowers. From March 2023 to now, every month when the interest is due, Mr. Tuyen only needs to write an interest invoice and take a photo to send via personal zalo to the borrower. After receiving the invoice, the borrower will transfer money directly to his Social Policy Bank account. Since using the Mobile Banking electronic banking service, Mr. Tuyen is also assured that the monthly interest of members is in the account, on the transaction day, he only needs to transfer money to the bank account without having to keep too much cash on him.

To use the Mobile Banking service of the Social Policy Bank, customers only need a smartphone connected to the internet and install the VBSP Smart Banking application. The Mobile Banking service of the Social Policy Bank meets most of the basic services of electronic banking, helping customers conveniently transfer money, pay electricity bills, water bills, telecommunications fees, train tickets, air tickets, tuition fees, insurance fees; top up phones, e-wallets, buy phone cards, pay taxes; QRPay payment service...

Mr. Cao Van Quyen in Thanh Ngoc quarter, Truong Son ward (Sam Son city) was able to borrow 400 million VND under the Social Housing Loan Program from 2022. Mr. Quyen said: Previously, to learn about the number of principal and interest payment periods for his family's loan or the Government 's preferential credit policies, he had to go directly to the transaction point or meet a credit officer for comparison. But since the Social Policy Bank deployed the VBSP Smart Banking application, he can transact with the Social Policy Bank anytime, anywhere without having to go to a transaction point or office. Every month when it is time to pay the bank debt, he receives a notification and makes a very convenient debt payment transfer, reducing time and travel costs.

To effectively deploy Mobile Banking services to customers through the VBSP Smart Banking application, Thanh Hoa Social Policy Bank organizes training and instructions on service usage; coordinates with entrusted associations, local authorities, village heads, TTK&VV management boards to propagate through group meetings; distributes leaflets; publicizes service usage instructions and Mobile Banking utilities at bank headquarters and 100% of commune transaction points; assigns staff to directly instruct at commune transaction sessions on the utilities when using the bank's digital application. Since its deployment, the whole province has had tens of thousands of customers installing and using the VBSP Smart Banking service.

The deployment of VBSP Smart Banking application in recent times has not only helped improve service quality and diversify products and services of the Social Policy Bank, but also helped people, especially poor households and policy beneficiaries in remote, isolated and extremely disadvantaged areas, gradually access non-cash payment services. Thereby, contributing to the implementation of the digital transformation goal of the banking industry. Currently, Thanh Hoa Social Policy Bank is continuing to coordinate with local authorities and authorities to promote propaganda about the practical benefits of digital banking applications, focusing on guiding customers to install and use the utilities of VBSP Smart Banking to customers who are borrowing capital at the Social Policy Bank.

Article and photos: Luong Khanh

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