“Digitalizing” policy credit capital management: Modern, effective and people-oriented

In the context that the entire banking industry is promoting digital transformation, the Dak Lak Branch of the Vietnam Bank for Social Policies (VBSP) has proactively deployed many digital solutions to improve service quality, bringing banking services closer to people in remote areas where access to traditional finance is still limited.

Previously, operations related to policy credit were mainly performed entirely manually and via text messages. To innovate the way policy credit capital is managed and operated, since 2021, the Bank for Social Policies, Dak Lak Branch has deployed the Policy Credit Management application (QLTDCS). This application not only helps modernize the debt collection, interest collection, and savings deposit process right from the savings and loan groups (TK&VV), but also helps to update data accurately and transparently, contributing to increasing the effectiveness of monitoring and serving the people better.

Deputy Director of the Vietnam Bank for Social Policies, Dak Lak Branch, Tran Thi Tham, guides a loan team leader in applying.

Ms. Nguyen Thi Xuan Hoa, Head of the Savings and Credit Group in Son Hoa Commune, is managing a Savings and Credit Group with 50 borrowers, with a total outstanding debt of more than 3.4 billion VND. Previously, every time she collected interest or counted the savings, she had to write it down by hand and manually add the books, which was both time-consuming and prone to errors.

Especially on rainy days, when people could not come to pay, she had to go from house to house to collect, take notes by hand, write receipts, calculate, add up the books... sometimes it was still late at night. Now, everything has become much easier, she just needs to open her phone, do a few operations and it's done.

With the QLTDCS application, she can immediately update the transaction information of each group member after collecting money. The data is synchronized with the bank's system, helping the group leader easily manage and track the principal, interest, and savings of each borrower.

“At first, I was a bit worried because I was not familiar with technology, but with the careful guidance of the credit officer, I gradually got used to it. Now I can confidently operate everything on the application. For each transaction, I only need to compare a few numbers, much faster and more accurate than before,” said Ms. Hoa.

Mr. Dang Ngoc Tam, Head of the Savings and Loan Group in Tuy Hoa Ward, discussed with credit officers about the process of using the Policy Credit Management application.

Mr. Dang Ngoc Tam, Head of the Savings and Credit Group in Tuy Hoa Ward, said that he is 64 years old and is still actively learning to access new technology to serve the management of policy credit capital. For him, this application is very convenient. Every month, when the commune transaction period comes, the work is done quickly and clearly, saving more than half of the transaction time without worrying about mistakes like before.

Currently, in the whole Dak Lak province, there are 6,223 leaders of Savings and Credit Teams using the QLTDCS application to serve their work. This application is for leaders of Savings and Credit Teams, commune officials, and mass organizations. Currently, 100% of the leaders have proficiently used the application, contributing to supporting customers in transactions via digital platforms.

Dao Thai Hoa, Acting Director of the Bank for Social Policies, Dak Lak Branch, said that the application of technology not only improves operational efficiency but also gradually forms a digital transaction environment for both staff and people. Through the application, team leaders can proactively notify debt collection schedules and interest payment schedules to team members, helping people prepare finances on time, thereby improving self-awareness, savings awareness and personal financial responsibility.

In addition to the QLTDCS application, the Bank for Social Policies Dak Lak Branch also deployed two other digital transformation pillars: Digital Education and Friendly Digital Banking - VBSP Smart Banking. Specifically, the Digital Education application is a program deployed to equip people with digital knowledge and skills. Through courses on mobile platforms, learners can access practical content such as: safe Internet use, online sales, personal financial management, business finance and skills to prevent fraud on social networks.

The VBSP Smart Banking application, which will be put into use from 2023, is a big step forward in bringing the Social Policy Bank closer to a modern digital banking model. To date, the entire branch has had more than 7,600 Smart Banking accounts opened, demonstrating positive reception from the people.

The application supports many financial features such as: 24/7 money transfer; payment of electricity, water, tuition bills, principal/interest payment; QR code scanning, e-wallet connection. In addition, users can also look up balance, transaction history, perform biometric authentication (fingerprint, Face ID), ensuring high security.

The most obvious impact of Smart Banking in Dak Lak is to help people in remote areas to make flexible transactions without having to go to a fixed transaction point, saving time, costs and increasing access to modern finance.

Bank staff guide representatives of entrusted associations to use the VBSP Smart Banking application.

In fact, the application of digital technology to policy credit capital management is not only a temporary solution, but also an inevitable trend in the process of modernizing the banking industry. Modern technology applications help save over 70% of data entry time at commune transaction points, reduce errors and increase transparency compared to manual methods. At the same time, it is an effective tool to help the Savings and Credit Team effectively promote its role as a bridge between banks and people.

Also according to the leader of the Bank for Social Policies, Dak Lak Branch, with the promotion of digital technology application, policy credit activities in Dak Lak are no longer simply a tool for financial support, but are becoming a driving force to promote the building of a digital community - modern, adaptive and sustainable.

In the coming period, the unit will promote solutions to improve the efficiency of digital transformation. The branch also aims to complete the opening of 100% of payment accounts for customers from member accounts. At the same time, it will basically meet the needs of using the VBSP Smart Banking application in the period 2025 - 2030.

For the QLTDCS application, strive to increase the rate to 100% of customers borrowing capital to transact via digital platforms, and at the same time organize periodic surveys to assess people's satisfaction with digital services.

Source: https://baodaklak.vn/thoi-su/chuyen-doi-so/202508/so-hoa-cong-tac-quan-ly-von-tin-dung-chinh-sach-hien-dai-hieu-qua-va-huong-den-nguoi-dan-1a805d7/