Attending the seminar were Mr. Pham Tien Dung - Deputy Governor of the State Bank of Vietnam (SBV); Mr. Cao Van Binh - Chairman of the Board of Directors of CIC; Mr. Nguyen Quoc Hung - Vice Chairman and General Secretary of VNBA; along with foreign experts from FICO Group, International Finance Corporation (IFC), NICE Info Vietnam Company (NICE) and nearly 200 representatives of leaders and officers in charge of risk management and credit information from credit institutions and foreign branches (TCTD) operating in Vietnam.
The seminar was held to create a forum for in-depth exchanges between management agencies, credit institutions and domestic and foreign experts on the trend of applying modern technology in credit risk management. At the same time, share experiences in implementing credit scoring and rating models in accordance with the characteristics of the Vietnamese market. Thereby, contributing to promoting the building of a transparent, effective and sustainable credit ecosystem, meeting the development requirements in the digital age.
Speaking at the Discussion, Mr. Pham Tien Dung - Deputy Governor of the SBV emphasized the key role of data and new technology for credit information activities (TTTD) in particular and the banking and finance sector in general.
In the face of digital transformation, the Deputy Governor suggested that credit institutions need to proactively apply new technologies such as artificial intelligence (AI), Big Data to the credit approval process, effectively exploit credit scoring and rating products, coordinate with CIC and technology partners to build a transparent credit ecosystem.
On CIC's side, the Deputy Governor requested to continue expanding non-traditional data sources such as tax, insurance, data from fintech companies, utility services, ... to supplement alternative data sources, provide a more comprehensive credit picture for credit institutions, contributing to promoting credit access opportunities for borrowers, especially customers who have never borrowed capital or have a limited credit history (thin file).
With the proactiveness, cooperation and commitment of all parties, the Vietnamese banking industry will continue to develop in a safe, modern, transparent direction and towards a comprehensive financial goal - the Deputy Governor emphasized.
Speaking at the opening of the Discussion, Mr. Nguyen Quoc Hung - Vice Chairman and General Secretary of VNBA said that the transformation of the digital economy, changes in consumer behavior, and diversification of credit types have created an urgent need for new methods and tools to assess risks at a higher speed and reliability level.
The application of modern credit rating and scoring models, based on a new technology platform, not only helps credit institutions (CIs) make decisions faster and more accurately, but also contributes to improving competitiveness and adapting to increasingly strict management requirements from supervisory agencies - Mr. Hung emphasized.
Within the framework of the program, guests also listened to presentations, exchanged enthusiastically, shared recommendations and solutions with speakers who are representatives of leaders of some credit institutions and data experts, risk management from FICO, NICE, IFC on international practices, exploited the potential for developing value-added products and services, supported risk management, and made credit granting decisions.
In particular, the discussion session recorded many practical contributions, closely reflecting the current situation and needs of credit institutions in Vietnam in the context of digital transformation of the entire industry. Sharings from practice have contributed to clarifying the key role of the credit information system, as well as the importance of developing value-added products and services to support risk management and make more accurate and effective credit granting decisions.
Concluding the seminar, Mr. Tran Trung Dung - Acting General Director of CIC emphasized that the seminar had listened to and fully accepted the instructions of Deputy Governor Pham Tien Dung, and recorded many in-depth shares from domestic and international experts.
The contents discussed at the Seminar are a valuable source of information, contributing to orienting the next steps in improving the quality of TTTD and applying modern technology to risk management. In the coming time, CIC will coordinate with reputable partners to comprehensively upgrade the credit scoring model, expand connections to data sources outside the industry, aiming to build a comprehensive, rich and multidimensional data platform.
CIC expects to continue to receive close coordination from credit institutions to ensure that new models are effectively implemented in practice, contributing to promoting the development of the transparent, modern and sustainable finance - banking sector.
