Hanoi (VNA) – The Vietnam Bank for Social Policies (VBSP) on September 6 officially launched the project“Mobile Banking – Financial Inclusion and Economic Empowerment for Low IncomePeople and Women in Vietnam” - Phase2 (Mobile Banking 2).

The project is funded by the Australian Foreign Affairs and TradeDepartment (DFAT) under the framework of the Business Partnerships Platform. Itaims at enhancing and improving access to financial services for poor andlow-income households, especially women-run micro-enterprises.

Mobile Banking 2 will continue for 2019-22 in 10 cities and provinces including Ninh Binh, Hoa Binh, Ha Giang, Lao Cai, Nghe An, Quang Tri, Binh Dinh, Dak Lak, Ho Chi Minh City and Can Tho.

Since the beginning of 2017, VBSP has been collaborating with the AsiaFoundation (TAF) and Mastercard to implement the Mobile Banking 1 project toprovide diversified and convenient digital payment services to customers,including poor people, and students in difficult circumstances, people withdisabilities, ethnic minority people and overseas workers across the country,especially in rural, remote and mountainous areas.

The project also aims at implementing the plan for IT Development in VBSPto 2025 with the objective of developing the IT system towards technologyrenovation, product diversification, modern and safe banking services with highlevels of knowledge and technology to enhance customers’ access to bankingservices, and enhance and modernise governance of VBSP.

Mobile Banking 1 (2017-18) produced positive results. VBSP has sent SMSmessages to customers nationwide to provide information about their accountbalance, savings and payment due dates and information.

By the end of 2018, VBSP had sent SMS messages on a regular basis to 5.1million customers across 63 cities and provinces, who have registered theirmobile phone numbers with the bank. The successful implementation of regularSMS services for customers is highly significant in enhancing the transparencyand efficiency of operations, providing timely information to customers.

Mobile Banking 2 will continue to improve SMS services to VBSP’s customersto ensure that 100 percent of customers register their mobile phone number,receive and understand the content of SMS and can provide feedback to the bank.Phase 2 will focus on supporting VBSP to develop the digital financial platformwith the development of technology solutions for mobile banking services.

The project will help VBSP mainstream genderissues in the planning and implementation of their programmes, thus contributing to empowering women, who account for 60 percent of thebank’s customers.-VNA