📋 Tender Overview
In Hanoi the Banking Strategy Institute the State Bank of Vietnam SBV organized the seminar Improving the quality of information collection and credit scoring for individual customers at credit institutions. Attending the Workshop there were representatives of leaders of Departments Departments of the State Bank Vietnam National Credit Information Center CIC representatives of the credit institution Fintech and technology companies.The important role of information gatheringIn recent years retail credit activities have been increasingly developed by credit institutions CIs in Vietnam. The growth rate of outstanding loans to individual customers in the CI system has always been maintained higher than the average growth rate of outstanding loans of the whole system. At the same time the development of the retail credit market is also in line with the needs of the economy showing the increasingly comprehensive ability of the system of Vietnamese credit institutions to meet the diverse needs of the people improve access to finance in the economy and towards comprehensive finance.However retail credit activities also have many potential risks. Credit institutions in Vietnam have spent a long time focusing more on corporate credit so their experience in developing retail credit is very limited. In addition the achievements of the fourth industrial revolution are having a strong impact on all areas of the socio-economic life in general and the activities of credit institutions in particular which also bring a lot of new opportunities to improve retail credit activities at credit institutions.In the opening session of the Workshop Ms. Nguyen Thi Hien Deputy Director of the Banking Strategy Institute said Collecting customer information and scoring credit for individual customers are two activities that play a particularly important role. The aim is to ensure the accurate and safe credit supply limiting the risks right from the approval stage. In retail credit customer information is often less focused and less transparent difficult to verify. Therefore collecting customer information and applying an appropriate scoring model play a key role in determining the advantages of credit institutions in the retail credit market.In the world today trends in the application of big data alternative data and automated credit scoring models built on artificial intelligence have been creating models. providing completely different credit bringing new experiences to customers. The use of non-traditional data and new scoring models creates the ability to assess and categorize customers more accurately not only allowing lenders to optimize optimization through differentiating credit products to suit each type of customers.N Enhancing quality of information collection and credit scoringParticipating in the discussion at the seminar the speakers as well as the opinions of the delegates analyzed clarified the implementation of collecting information analysis and credit scoring for customers. At the same time analyzing the advantages and difficulties encountered it can bring about new and practical proposals in improving the quality of information collection and credit scoring for individual customers at Vietnamese credit institutions Male.At the seminar Mr. Cao Van Binh Deputy General Director of Vietnam National Credit Information Center CIC said that CIC has actively developed new techniques and models to provide information products. Credit is in line with market demand. CIC has also had clear directions in developing data infrastructures as well as using advanced credit scoring models for individual customers.University d rea Banking Strategy Institute that collects information and customer credit scoring is an important foundation for sustainable development of the retail credit market Vietnam . The trend of retail credit development in Vietnam is very clear and many credit institutions will continue to consider this as a core product and service to develop in the near future. The Institute of Strategys research results have shown that credit institutions appreciate the collection of customer information and credit scoring for individual customers. In addition the survey results also show that this activity has not met the requirements set out in many credit institutions. In which lack of data infrastructure is one of the difficulties that have been pointed out.The presentations from representatives of Tien Phong Commercial Joint Stock Bank HDSAISON Financial Company NICE Vietnam Company also had relatively specific images of the reality being implemented at Vietnamese credit institutions. It can be said that Vietnamese credit institutions in recent years have had very quick access to international trends in the application of new technologies such as Big data Machine learning and Artificial Intelligence. Therefore it has shown very powerful changes from the operating model structure technological capacity and people. However it should be noted that there are still many difficulties in implementing new technology applications from incomplete data infrastructure then data structure models data processing modules in each Credit institutions also need more time to convert.The seminar provided analytical information deep assessment of development trends along with highly practical policy recommendations to improve the quality of information collection and credit scoring for retail customers at CIs contributing to the sustainable development of Vietnams retail credit market.
