Bringing technology into policy capital management

Clear effect at the grassroots

Mr. Dang Ngoc Tam, head of the savings and loan group in Hoa An commune, discussed with staff of the Phu Hoa District Social Policy Bank Transaction Office about the application of Policy Credit Management. Photo: LE HAO

The savings and loan group of Ea Mkeng village (Ea Bar commune, Song Hinh district) headed by Ms. Vu Thi Thu Hang currently has 49 members with a total outstanding debt of more than 4 billion VND. Previously, the work of collecting interest and depositing savings every month always took Ms. Hang a lot of time, not to mention the risk of mistakes when recording manually.

“On average, about half of the households come to pay at my house each month, while the rest I have to collect in person. Each time I collect, I have to record, write a receipt, and then manually add the books to compare on the commune transaction day, which is very time-consuming and prone to errors. But since I was instructed on how to use the Policy Credit Management application on my phone, everything has become much easier,” Ms. Hang shared.

According to Ms. Hang, this application allows the team leader to update transaction information immediately upon collecting money, the data is stored and synchronized on the bank's system. Thanks to that, when it comes to the regular transaction session at the Commune People's Committee, the data comparison and confirmation takes place quickly, accurately, saving more than 50% of working time.

Not only Ms. Vu Thi Thu Hang, the application of Policy Credit Management has helped more than 2,200 leaders of savings and loan groups in the province reduce work pressure, while creating conditions for people to access clear and transparent credit information.

Mr. Dang Ngoc Tam, head of the savings and loan group in Dong Phuoc village (Hoa An commune, Phu Hoa district) said: I am 64 years old this year, and have been the head of the savings and loan group for about 3 years now. At first, when I first approached the Policy Credit Management application on my smartphone, I was very hesitant. However, with the encouragement and guidance of the staff of the Vietnam Bank for Social Policies (VBSP), I gradually got used to it and am now proficient in using this application. Thanks to that, when it comes to commune transactions, the work is much more convenient.

By the end of March 2025, Phu Yen province had 2,239 savings and loan groups, of which 100% had deployed the Policy Credit Management application. In addition, union officials and members of the Board of Directors of the Social Policy Bank at all levels also installed and used this application to serve the management of policy credit capital more effectively.

Optimize credit management and operations

According to Mr. Ho Van Thuc, Director of the Phu Yen Social Policy Bank, putting the Policy Credit Management application into use not only helps save time and effort for team staff, but also helps the bank more closely monitor transaction activities at the grassroots level, especially at commune transaction points.

“With this application, the head of the savings and loan group can perform interest collection, savings collection, and debt repayment transactions right on their smartphones. The data is then synchronized with the banking system, ensuring accuracy, avoiding confusion, and helping bank staff save processing time at the commune transaction point,” said Mr. Thuc.

The application also integrates detailed information about the credit program being implemented, interest rates, repayment schedules, and allows for looking up transaction history, receipts, outstanding debt, etc. This is considered an effective tool to help team leaders clearly understand the credit activities of their team, improve management quality, and better serve the people.

In parallel with the Policy Credit Management application, Phu Yen Social Policy Bank also deploys many digital transformation solutions such as: upgrading the Core Banking system, deploying Mobile Banking service through the VBSP SmartBanking application; using software to enter test results and score trust activities, monitor social transaction activities via IP Camera, ensuring transparency and safety in all stages of operation.

The deployment of modern technological solutions has helped the management, supervision and operation of policy credit capital in Phu Yen become transparent, strict, and minimize risks. Especially, in the context of policy credit capital being increasingly expanded, serving many subjects, the effective management of capital flows is of great significance.

According to Mr. Le Anh Nhan, Head of Planning - Credit Operations Department of Phu Yen Social Policy Bank: “Since the beginning of 2024, we have gradually converted the management method from manual to digital. Instead of having to prepare paper reports, now organizations, unions, and members of the Board of Directors of the Social Policy Bank at all levels can access the online data system, monitor the outstanding debt situation, overdue debt, and capital recovery rate of each commune and group in an intuitive and quick way”.

The deployment of modern technological solutions has helped the management, supervision and operation of policy credit capital in Phu Yen become transparent, strict, and minimize risks. Especially, in the context of policy credit capital being increasingly expanded, serving many subjects such as poor households, near-poor households, newly escaped poverty households, production and business households in difficult areas, workers borrowing capital to create jobs, etc., the effective management of capital flows is even more important.

Source: https://baophuyen.vn/kinh-te/202504/dua-cong-nghe-vao-quan-ly-von-chinh-sach-610113e/