Banks promote digitalization of lending, apply AI in appraisal

At the State Bank of Vietnam (SBV) press conference on the morning of May 26, a SBV representative said that the event "Digital transformation of the banking industry by 2025", with the theme "Smart digital ecosystem in the new era", will take place on the afternoon of May 29, at the Government Office.

The event promises to make a strong impression, not only bringing practical experiences to businesses and people, but also affirming the determination to innovate and the pioneering role of the banking industry in national digital transformation.

“Banks are accelerating the digitization of the lending process, applying artificial intelligence (AI), big data in appraisal, providing flexible and fast unsecured loan packages. A digital ecosystem for businesses is also being built, integrating payments and tax payments via APIs connected to accounting software.

Ms. Le Thi Thuy Sen - Editor-in-Chief of Banking Times. Photo: Organizing Committee

Speaking at the Press Conference, Ms. Le Thi Thuy Sen - Editor-in-Chief of Banking Times emphasized: “At the National Conference to disseminate and implement Resolution No. 66 -NQ/TW and 68 -NQ/TW, General Secretary To Lam identified Resolution 57 as one of the four fundamental institutional pillars, of strategic significance to promote science and technology, innovation and digital transformation. That spirit has been concretized into the theme of National digital transformation in 2025, which is "Comprehensive, all-people, all-process digital transformation to accelerate and break through the development of the digital economy ".

“Organizing the event: 'Smart digital ecosystem in the new era' is a testament to that determination. This theme not only closely follows the direction of the Party and the Government , but also clearly demonstrates the message: The banking industry takes people and businesses as the center of service, promotes the application of innovative products and services, develops a smart, interconnected and secure digital ecosystem towards the goal of comprehensive, all-people digital transformation to accelerate and break through the development of the digital economy", said Ms. Le Thi Thuy Sen.

Mr. Pham Anh Tuan - Director of Payment Department (State Bank).

Regarding digital transformation in the banking industry, Mr. Pham Anh Tuan - Director of the Payment Department (SBV) said: "Infrastructure serving digital transformation in the banking industry has always been focused on investment, upgrading and development. The Interbank Electronic Payment System (IPPS) operates stably and safely. In 2024, the IPPS system will process an increase of 7.43% in quantity and 32.90% in value compared to 2023. On average, the system processes more than 534,000 items per day with an average value of about VND 820,000 billion".

The financial switching and electronic clearing system (CMTC&BTĐT) is capable of processing instant payment transactions, operating continuously 24 hours x 7 days. In 2024, the CMTC&BTĐT system will process an increase of 29.69% in quantity and 15.12% in value compared to the same period in 2023, processing an average of more than 26 million transactions/day, an increase of 30.34% compared to the same period last year.

To date, the entire market has more than 21,000 ATMs and 737,000 POS (points of sale); the payment acceptance network (POS/QR Code) covers most localities nationwide. Vietnam has completed connecting the cross-border payment system via QR Code with Thailand, Cambodia, Laos, allowing customers to pay for goods and services abroad via QR codes directly on the mobile app of Vietnamese banks and vice versa. The State Bank of Vietnam is deploying QR payment connections with China, Korea and several other countries.

Register digital signature on VNeID App and VCB Digibank app

According to the State Bank, many friendly and convenient banking products and services bring practical value to meet the diverse needs of customers. Many basic operations have been 100% digitized (savings deposits, term deposits, opening and using payment accounts, opening bank cards, e-wallets, money transfers, loans, etc.).

Many credit institutions (CIs) in Vietnam have a rate of over 90% of transactions on digital channels. CIs focus on digital transformation of traditional business activities along with having more interactive channels, bringing new, convenient and completely different products and services compared to before such as: Developing deposit/withdrawal features on automatic transaction machines; online disbursement for small and medium enterprises; opening credit cards through transaction interactions with Robots, tap-to-pay payments, contactless payments, voice and face payments...

Vietcombank representative said that from now on, people can register for digital signature certificates on VNeID and VCB Digibank application. The pilot implementation of the solution "Centralized remote digital signature portal on VNeID" contributes to promoting safe, effective and transparent electronic transactions - from public services, finance, trade to healthcare - gradually building a modern, safe digital society, focusing on people and businesses.

Vietcombank is considered the pioneer bank connecting with the "Centralized Remote Digital Signature Portal on VNeID" platform, helping customers to register for digital signatures in just a few minutes on the VCB Digibank application and use digital signatures in banking transactions such as loan registration, disbursement... and other procedures in the future.

To register for a digital signature, customers only need to update the VCB Digibank application to the latest version and type in the search "digital signature" to register.

Ms. Nguyen Thi Ngoan - Chief Financial Officer of MISA Joint Stock Company and Director of MISA Lending Platform:

Disbursed loans of 22,500 billion VND

MISA has developed the MISA Lending platform to help connect small and medium enterprises (SMEs) with banks and financial institutions. Nearly 300,000 MISA customers mostly use MISA's cloud solutions, so the necessary indicators provided for banks to assess risks are direct and can be obtained at any time, limiting many risks for banks.

MISA Lending aims to help businesses borrow capital in just 5 minutes of application, 1 day of approval, no collateral required. Based on available data and technology, MISA cooperates with banks to design many suitable loan products such as: unsecured loans, bill loans, working capital loans, and loans according to limits.

Up to now, MISA Lending has recorded positive results such as: VND 10,500 billion approved limit; VND 22,500 billion disbursed; 30% of businesses successfully borrowed capital, 10 times higher than the traditional model. The risk ratio is at an acceptable level for banks. We expect the Government to be able to build a triangle model: the Government has a credit guarantee fund for SMEs, commercial banks lend capital, and MISA is the unit that can provide data to minimize risks.

According to News and People Newspaper

Source: https://doanhnghiepvn.vn/doanh-nhan/ngan-hang-day-manh-so-hoa-viec-vay-von-ap-dung-ai-trong-tham-dinh/20250527060925019