Digital transformation in policy credit activities

To improve service quality, bring poor customers and policy beneficiaries more opportunities to experience modern digital banking services, the Vietnam Bank for Social Policies - Thanh Hoa Branch (VBSP Thanh Hoa) has applied digitalization to credit activities to help customers make flexible payments, secure information, save costs, reduce transaction time, meet customer needs, and ensure the safety of the policy credit payment system.

Nga Son Social Policy Bank staff guides people to perform digital banking transactions at the Nga Bach commune transaction point.

Thanh Hoa Social Policy Bank has directed transaction offices in districts, cities and towns to strengthen propaganda, guidance, opening VBSP Smart Banking accounts and installing biometrics for customers, ensuring payment and transaction activities are uninterrupted, safe and secure, while helping policy beneficiaries access the utilities of digital banking. VBSP Smart Banking service is a digital banking service of the Social Policy Bank that helps poor households and policy families to perform convenient services, such as: paying interest, querying transactions right on the account; customers borrowing capital from the social housing loan program have their monthly interest directly deducted on the application... At the same time, the application has also combined many services such as payment, transfer, investment, credit, card, e-wallet, payment of electricity and water, payment of tuition fees... creating a comprehensive experience for customers so that they can easily transact anywhere via mobile phone so that customers can control their transaction time and not have to go directly to the bank. Customers' normal banking transactions such as: deposit, withdrawal, transfer, bill payment... to complex transactions such as: opening an online account, online savings deposit, card issuance, registering for VBSP Smart Banking service, registering for loan application have been done right in the system.

Mr. Nguyen Duy Hoa, Le Lai quarter, Lang Chanh town (Lang Chanh), said: "Previously, if I wanted to find out about the number of principal and interest payment periods for family loans or preferential credit policy programs, I had to go directly to the transaction point or meet a credit officer to compare and pay. However, thanks to the guidance from the staff of the Lang Chanh Social Policy Bank on installing and using the Mobile Banking electronic banking service application, anywhere, anytime, as long as I have a phone with an Internet connection, I can easily look up payment account information, deposit money, pay monthly loans; transaction history; information about bank products without having to go to a point or transaction office. After nearly a year of using the VBSP Smart Banking application, I find it very convenient, saving costs and travel time."

The policy credit management application helps banks and entrusted political organizations to better direct, operate and implement policy credit activities; provide information on loan programs; loan database, both interest and principal of customers; loan reconciliation results; credit guidance documents; introduce typical and exemplary production and business models... Thereby, helping users have quick and accurate data information. Data on credit activities and activities of associations and savings and loan groups are also updated promptly on the application, helping users quickly grasp information on policy credit activities in the area, contributing to improving the quality of credit activities and loan entrustment activities. Currently, 100% of savings and loan group leaders in the area have installed and proficiently used the policy credit management application.

Ms. Nguyen Thi Loan, President of the Women's Union of Lang Chanh town (Lang Chanh), said: "In coordination and entrustment with the Social Policy Bank to lend capital to members, we were trained by the bank to use the bank's convenient services. Currently, with just a smartphone with an Internet connection, the leaders of the savings and loan groups can introduce in detail and specifically the credit programs of the Social Policy Bank for members to access; guide and support members to complete loan procedures quickly and conveniently."

With the goal of becoming a handbook, supporting customers to promptly access preferential policies, manage loan information and provide knowledge to serve economic development, the application of Mobile Banking electronic banking service of the Social Policy Bank in recent times has been supported and welcomed by people belonging to poor households and policy families from the very beginning due to the positive and feasible impacts of this software. Thanh Hoa Social Policy Bank continues to promote digital transformation applications, creating convenience and utilities for the poor and beneficiaries; proactively grasp and improve service quality, making social policy credit activities in the area increasingly effective. Thereby, contributing to improving the intellectual level of the people, narrowing the gap between mountainous and lowland areas, between urban and rural areas, between the poor, policy beneficiaries and other social groups; promote the digital ecosystem process for financial inclusion and support the implementation of social security programs, towards sustainable poverty reduction.

Article and photos: Luong Khanh

Source: https://baothanhhoa.vn/chuyen-doi-so-trong-hoat-dong-tin-dung-chinh-sach-226948.htm