At a workshop hosted by the Vietnam Banks Association and the National Credit Information Centre (CIC), State Bank of Vietnam Deputy Governor Pham Tien Dung framed tech-enabled credit scoring and automated risk management as prerequisites for end-to-end online lending. He pointed to the government’s digital transformation direction and noted that Circular 12/2024 permits online loans, with the current lending cap set at VND 100 million. Speakers also highlighted that State Bank of Vietnam regulations require credit institutions to maintain internal credit rating systems for customer assessment, credit approval and credit quality management, including under Circular 31/2024 on asset classification and Circular 14/2025 on capital ratios. The Vietnam Banks Association noted persistent weaknesses in current internal rating approaches, including limited transparency of customer financial data, insufficient data connectivity, underuse of non-traditional data and inconsistent outcomes across lenders. Drawing on examples such as FICO, IFC and Korea’s NICE INFO, and international use of non-financial data in credit decisions, the Deputy Governor asked the Vietnam Banks Association and CIC to move beyond providing “raw” data toward packaged, bank-integrable products combining data, models and scoring results, while reiterating that the central bank will continue to support digitisation of credit activity.

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