Digitalizing policy credit contributes to digital transformation

Identifying digital transformation as an inevitable trend to better serve the poor and policy beneficiaries, in recent times, the Vietnam Bank for Social Policies (VBSP) Quang Tri branch has deployed many applications and software for policy credit management. Thereby, creating the best conditions for people to access banking services quickly and conveniently.

Staff of the Social Policy Bank, Quang Tri branch, instruct customers to install and use the bank's Mobile Banking application - Photo: ML

In October 2022, the Social Policy Bank, Quang Tri branch, deployed the Mobile Banking application. After 2 years of implementation, more than 4,000 customers have registered to use it. It is known that this application provides many utilities with financial and non-financial services. Customers do not have to wait for transactions at the counter but can use the service anywhere, just need a smartphone with internet connection.

According to Ms. Nguyen Thi Ngoc Ha, in Dien Sanh town, Hai Lang district, through the digital applications of the Social Policy Bank, she can track the principal and monthly interest that she has paid to what stage and how much she needs next month to plan her money preparation.

“I also regularly pay household expenses such as electricity, water, and monthly tuition fees for my children... through the Mobile Banking application of the Social Policy Bank. I find it very convenient because this application transfers money quickly and without interruption. Since installing and using the Mobile Banking application of the Social Policy Bank, I rarely use cash, so it is easier to manage expenses and save more than before,” Ms. Ha shared.

In addition to Mobile Banking, the Quang Tri branch of the Vietnam Bank for Social Policies also deployed the installation and instructions for using the policy credit management application. Currently, this application has 3,534/3,534 users (including heads and members of the board of directors at all levels; leaders and some officials doing entrusted work of 4 socio -political organizations at all levels; chairmen of the People's Committee at the commune level; commune poverty reduction committee; village heads; heads of savings and loan groups (TK&VV); leaders and officials of the Vietnam Bank for Social Policies). This application is highly appreciated for its usefulness in the daily work of policy credit managers.

According to Ms. Nguyen Thi Ty, Chairwoman of the Dakrong District Women's Union, thanks to the use of the policy credit management app, she has promptly grasped data on savings and credit groups under the union's management, borrowers with overdue debts, due debts... From there, she promptly coordinated with the staff of the Social Policy Bank in handling the recovery and improving the quality of savings and credit group activities. In addition, she also proactively uploaded data such as loans with due debts, monthly commune transaction results, loans with outstanding interest debts to promptly handle, not letting bad debts persist and affect the quality and activities of the union.

Ms. Nguyen Thi Thu Dieu, Head of the Savings and Credit Group in Hamlet 1, Krong Klang Town, Dakrong District, said: “I am using the policy credit management app to collect interest and monthly savings from members of the group. When I first accessed the application of the Social Policy Bank, I was given detailed instructions by the bank staff on each section of the application.

At first, entering interest and savings into the app was very slow, and there were often errors when entering numbers, but after many attempts, I have now mastered it and saved a lot of time when handling the work of a team leader."

According to Ms. Dieu, the application of digital technology of the Social Policy Bank on mobile devices is very convenient, saves time, and limits the need to go to home or work to provide information and exchange.

To contribute to management and operation, improve customer service quality and improve credit activities, in recent times, the Bank for Social Policies, Quang Tri branch has focused on applying technological achievements, developing information technology systems in a modern, safe direction, suitable for the specific management requirements of social policy credit.

Up to now, the branch has deployed the SMS service to check loan balance and deposit balance information to 100% of customers. All transaction offices have assigned departments to receive customer feedback and promptly resolve any problems customers encounter during transactions at the Social Policy Bank.

In the coming time, the Bank for Social Policies, Quang Tri branch, will continue to maintain the application of policy credit management so that the management and operation of policy credit capital sources can be implemented more effectively.

At the same time, focus on promoting, supporting, guiding, consulting and answering information related to Mobile Banking services for customers, especially people in mountainous areas, where access to online banking services is still difficult and limited.

To effectively implement the digital transformation of the system, the Provincial Social Policy Bank will continue to receive and effectively use new software transferred from superiors. Focus on technological innovation, diversifying modern and safe banking products and services; at the same time, training in policy credit operations for credit officers, entrusted socio-political organizations, officers working on poverty reduction at the commune level and team leaders, heads of savings and credit teams... to help improve financial knowledge, promote effective capital use, gradually familiarize with digital technology, especially customers in rural, remote and isolated areas.

Thereby, accelerating the progress of applying information technology, implementing digital transformation in policy credit activities, as well as moving towards providing comprehensive financial services to customers, contributing to the implementation of the goals in the digital transformation strategy of the banking industry and the country.

Mai Lam

Source: https://baoquangtri.vn/so-hoa-tin-dung-chinh-sach-gop-phan-chuyen-doi-so-189978.htm