Digital transformation reshapes policy lending in Tay Ninh

Résumé détaillé

The shift from collecting interest payments and savings deposits in cash to conducting transactions through bank accounts is gradually transforming the way policy credit operates.

Experience in the southern province of Tay Ninh shows that, while digitalisation saves time and costs, and makes transactions more transparent, the biggest challenge remains helping borrowers, particularly elderly people, become familiar with digital financial services.

Nguyen Thi Thanh Huong, a resident of Long An ward, Tay Ninh province, is among the borrowers under the student loan programme who have switched to paying interest through bank transfers since September 2026.

With annual loans of around $1,600 from the Vietnam Bank for Social Policies (VBSP), her family has significantly eased the financial burden of their children's education.

Previously, she had to arrange time each month to meet the head of her Savings and Credit Group to pay interest. Now, just a few taps on her phone allow her to complete the transaction at her convenience, without having to travel.

Huong was previously unfamiliar with electronic banking applications. With her children's guidance on basic operations such as paying electricity and water bills, and making purchases, she gradually developed the habit of conducting transactions online. This also laid the groundwork for her to adapt more quickly to VBSP's new payment methods.

At the Nhon Binh residential quarter Savings and Credit Group in Long An ward, the transition has been implemented through direct guidance for each member.

Group leader Tran Thi Mong Xuan said the group had 45 members, some of whom initially did not have bank accounts, did not use smartphones, or were unfamiliar with money transfer procedures.

To address these difficulties, the group leader informed members of the exact interest amounts due, guided them on current account holders' names and transfer amounts before making payments, and helped those without bank accounts open one.

For elderly members, families were encouraged to provide assistance. As a result, by September 2026, all members had switched to paying interest and making savings deposits through bank…

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