Digitalization of policy credit for the poor and other vulnerable segments to contribute to the national comprehensive finance strategy
(VBSP News) Vietnam Social Policy Bank (VBSP) has just implemented loan disbursement through customers' payment accounts. This method not only helps people access capital conveniently and safely but also contributes to modernizing policy credit activities, improving management efficiency and service quality.
At the monthly transaction session, after completing the loan application procedures, instead of receiving cash as before, people can now receive the loan money through their payment account.
Officials from the Provincial Branch of the Vietnam Social Policy Bank guide customers on using the VBSP SmartBanking application.
Mr. Vu Xuan Sang, from Dinh Lap commune, is one of the households whose loan funds were disbursed through a payment account. Mr. Sang shared: "Previously, every time I borrowed money, I received cash, which was inconvenient and worrying for my safety on the way. Now, the bank has implemented disbursement through the VBSP SmartBanking application. When I borrowed money, I was guided by the VBSP staff to open an account and install the application. The entire loan amount is transferred directly to my account, so I find it very convenient and reassuring."
Not only Mr. Sang, but many other borrowers in communes and wards throughout the province have now accessed loan disbursement through payment accounts. Accordingly, at commune transaction sessions, VBSP staff directly guide customers in opening accounts, installing and activating the VBSP SmartBanking application immediately after completing loan procedures. As a result, disbursement is carried out quickly and safely, while helping people gradually become familiar with digital banking services.
Ms. Quach Thanh Huyen, Deputy Head of the Planning and Credit Operations Department of the Vietnam Bank for Social Policies (VBSP) branch in the province, in charge of credit work in Tam Thanh, Luong Van Tri, and Dong Kinh wards, said: "We have actively promoted and guided customers to open payment accounts and use the VBSP SmartBanking application. The initial implementation process has received the approval of the people because this disbursement method is both convenient and reduces the risk of having to carry large amounts of cash. In addition, credit officers regularly assist customers who are not yet familiar with using smartphones to ensure that everyone can access and use the service. From June 2026 to the present, the unit has disbursed 3.4 billion VND to 36 customers through transfers via the application."
To ensure effective implementation, the branch has issued a directive to its transaction offices to proactively coordinate with local authorities, entrusted socio- political organizations, and savings and loan groups to promote and guide customers in opening payment accounts, installing, and using the VBSP SmartBanking application right at the commune transaction points.
In addition, branches proactively review and categorize customers to provide appropriate support, especially for people in rural areas and customers who are not yet familiar with using smartphones. Accordingly, assigned credit officers directly guide each customer through the steps of activating accounts, logging into applications, checking balances, and performing basic transactions, ensuring that borrowers can use the service conveniently from the first time.
Thanks to the synchronized implementation of various solutions, the disbursement of loan capital through payment accounts has gradually expanded throughout the province. To date, the entire branch has disbursed 9 billion VND to over 90 customers via bank transfer through payment accounts, contributing to reducing the amount of cash in circulation at commune transaction points and enhancing transparency, accountability, and safety in policy credit activities.
Mr. Phan Anh Thang, Deputy Director of the Provincial Branch of the Vietnam Bank for Social Policies (VBSP), stated: Disbursement through payment accounts is one of the key contents in the digital transformation roadmap of the VBSP system, contributing to improving service quality, ensuring transparency and facilitating customers' access to policy credit. In the coming time, the Branch will continue to direct its transaction offices to strengthen propaganda and guidance for customers to open and use payment accounts and digital banking services; at the same time, increase the rate of cashless disbursement, gradually forming the habit of electronic transactions for policy loan borrowers, contributing to the effective implementation of the digital transformation policy of the banking sector.
It is evident that promoting loan disbursement through payment accounts not only helps people access preferential capital quickly, safely, and conveniently, but also contributes to modernizing policy credit activities, improving service quality, meeting the digital transformation requirements of the banking sector, and the government 's goal of developing cashless payments.
