Implementing digital customer authentication at pawn shops in Ho Chi Minh City.

This model benefits both the regulatory body and the lending institution.

Recently, the police of Ward 13, District 3, Ho Chi Minh City, deployed a trial installation of a chip-embedded citizen identity card (CCCD) reader at the F88 branch located at 349 Le Van Si Street. This device is directly connected to the national population database and allows F88 to quickly access important customer information such as full name, permanent address, and biometric facial matching between the cardholder and the encoded portrait image stored in the chip.

All information retrieval results will be recorded by the police, thereby contributing to the timely detection of cases of document forgery that disrupt local security and order.

According to a representative from VNPT Ho Chi Minh City Business Center, the hardware provider, this device can read information from national identity cards and chip-embedded citizen identification cards. National identity cards are personal identification documents issued by the Ministry of Public Security since July 1, 2024, and compared to chip-embedded citizen identification cards issued in 2021, the new type integrates more information such as driver's licenses, vehicle registration, social insurance books, health insurance cards, etc.

This information is essential for completing a mortgage loan application.

The leader of the police station in Ward 13 stated that this solution contributes to improving the effectiveness of crime prevention by authorities, while also helping businesses verify customer information more accurately. This is also the content of Model 16 - deploying mobile verification devices and chip-embedded citizen identification card readers that are connected and synchronized with the national population database at business locations with security and order requirements.

This model is part of Project 06 implemented by the Ministry of Public Security since 2022, and following F88, the police of Ward 13 will deploy this solution to other pawn shops in the area.

F88's leadership stated that the implementation of digital customer verification affirms its commitment to legal compliance and proactive support for authorities in ensuring local security and order. Furthermore, this solution helps the company shorten loan approval times. Currently, loan approval times at F88 range from 15 to 30 minutes, and it is expected to reduce this by 10% to 15%. This result will also benefit customers.

Furthermore, as required by the State Bank of Vietnam, from July 1, 2024, credit institutions are required to implement new authentication measures for online payments (Internet Banking, Mobile Banking). F88 is currently a distributor of loans from CIMB Bank, so this method of information verification will greatly assist customers in completing bank loan procedures.

F88's leadership representatives affirmed that in the coming time, the unit will continue to coordinate with police agencies in provinces and localities to deploy and install digital customer authentication equipment and applications throughout its entire system of 830 transaction offices. Regarding the progress, in 2025, the focus may be on deployment in major cities such as Hanoi and Ho Chi Minh City.

This is not the first time F88 has deployed citizen identification card readers. Since the beginning of 2024, F88 has collaborated with the police in Ninh Binh and Lao Cai provinces to conduct trial installations of this equipment at several branches.

Ha An

Source: https://vtcnews.vn/trien-khai-xac-thuc-khach-hang-so-tai-cac-co-so-cam-do-o-tp-hcm-ar908290.html