On July 30, 2025, in Hanoi, the Vietnam Banks' Association (VNBA), in collaboration with the National Credit Information Center (CIC) under the State Bank of Vietnam, organized a seminar titled "Strengthening Risk Management Capacity, Enhancing Credit Quality with Credit Rating and Scoring Models Applying New Technologies." Deputy Governor of the State Bank of Vietnam, Mr. Pham Tien Dung, attended the event alongside domestic and international experts. The seminar aimed to focus on solutions for data standardization and the application of AI and big data to optimize credit scoring processes, meet Basel II and III standards, and improve the competitiveness of Vietnam's banking system.
Dr. Nguyen Quoc Hung, Vice Chairman cum Secretary General of SBV
Speaking at the seminar, Dr. Nguyen Quoc Hung stated that amidst economic fluctuations and the imperative to comply with Basel II and Basel III standards, Vietnamese credit institutions are actively building internal credit rating systems and implementing advanced risk management standards. However, the transparency of financial data and the integration of non-traditional data such as tax, social insurance, and telecommunications data remain limited. This leads to incomplete credit rating models and inconsistent credit scoring results among credit institutions and information providers.
Dr. Nguyen Quoc Hung emphasized that with the strong development of AI, machine learning, and big data analytics, standardizing, expanding, and sharing data will help credit institutions optimize their credit scoring processes. This will not only enable institutions to make faster and more accurate decisions but also enhance their risk management capabilities and improve competitiveness.
The seminar will focus on sharing experiences among international experts and credit institutions in deploying modern credit rating and scoring models, as well as improving the quality of credit information within the banking sector. Key topics include:
(1) Analyzing internal credit rating models, evaluating the advantages and limitations of current models;
(2) Enhancing credit information quality, developing value-added products and services to support risk management;
(3) International practices in credit information, updating international standards and countries' experiences in applying technology to credit management; and
(4) Applying new technologies in credit scoring, proposing solutions and recommendations to help credit institutions improve credit quality, manage risks, and promote credit access in Vietnam.
Mr. Nguyen Quoc Hung expressed confidence that with the participation of reputable experts and experienced managers, the seminar will provide valuable insights and concrete solutions, helping credit institutions improve their risk management capabilities and, consequently, enhance credit quality in the future.
The seminar is not only an opportunity for credit institutions to enhance their capabilities but also opens up new directions for the banking sector in applying modern technology to address challenges in credit risk management, contributing to the sustainable development of Vietnam's financial system.
VNBA News
