On September 19, 2023, at the headquarters of the State Bank of Vietnam (SBV), the Information Technology Department of the SBV, EPAY JSC., and ETC JSC. jointly organized a Seminar on Solutions for the application of the population database in the authentication and eKYC in the banking sector.
Deputy Governor Pham Tien Dzung speaks at the Seminar
In his opening speech, Deputy Governor Pham Tien Dzung informed that, in order to implement Decision No. 06/QD-TTg dated January 6, 2022 of the Prime Minister approving the Scheme on developing the applications of the population database, the personal authentication and eKYC in support of the national digital transformation for the 2021-2025 period, vision to 2030 (Scheme 06), the SBV has promulgated the banking sector’s Plan for the implementation of Scheme 06. In addition, the SBV and the Ministry of Public Security had signed a joint agreement for the implementation of the tasks as stated in Scheme 06.
According to the SBV Deputy Governor, Scheme 06 has enabled the banking entities to exploit the National Database on Population, the information on the chip-based ID cards and the electronic identification accounts (VNeID) provided by the Ministry of Public Security. This is of great importance for the banking sector to provide digital banking services. Currently, the credit institutions are permitted to open accounts via e-KYC and provide loans with the maximum value of VND 100 million via electronic means. And thus, the key operations of a bank, which are receiving deposits, providing loans and payment services, can all now be done online.
The SBV Deputy Governor emphasized the importance of the authentication of customers in the coming time. The data from the National Population Database would be a helpful resource for the credit institutions to verify their customers’ identity and to look up information to evaluate the customers’ ability of debt payment, thereby accelerating the lending procedures, contributing to restricting black credit. The SBV Deputy Governor affirmed that the Seminar would help the banking entities to further understand the applications of the population database, and to come up with specific solutions and applications serving for the digital transformation of the banking sector. Besides, it was also a good opportunity for the authorities, IT officers of the banking sector to access the relevant information and discuss with the SBV functional departments, as well as the providers of the products and services, thereby, they can recommend possible solutions for the implementation of Scheme 06 for the entire banking sector as well as for each institution.
Mr. Le Hoang Chinh Quang, Deputy Director General of the IT Department of the SBV, speaks at the Seminar
At the Seminar, Mr. Le Hoang Chinh Quang, Deputy Director General of the IT Department of the SBV, informed about the results of the implementation of Scheme 06 in the banking sector over the past time. Specifically, regarding the application of the chip-based ID cards, there are currently 40 credit institutions involved. Regarding the application of the VNeID, 10 credit institutions have been preparing to implement. 27 credit institutions are implementing the cleaning of their customers’ data for the opening of payment accounts.
However, according to Mr. Le Hoang Chinh Quang, there are still several difficulties and obstacles in the implementation of Scheme 06. For example, the technical solutions for the connection, the exploitation of the National Database on Population, etc. have only completed the pilot implementation phase, and the provision of banking services have just recently begun through a few institutions and companies licensed by the Ministry of Public Security. Many credit institutions have not accessed or received any guidance regarding the required processes, procedures or the technical solutions for the implementation.
Also at the Workshop, a representative from EPAY JSC. Delivered a brief presentation on the key solutions for the application of the National Population Database in the authentication and eKYC in the banking sector, such as the authentication of customers’ information using chip-based ID cards; the application of VNeID for the authentication of customers’ identity; the solutions for the cleaning of banking data and the biometric authentication solutions; the solutions for the remote digital signature on VNeID, which is integrated with mobile banking, etc.
Le Hang