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| Raising pigs according to VietGAP process at Mr. Doan Van Thanh's family in Hai Hung commune (Hai Hau). |
Currently, digital transformation in the banking sector does not stop at digitizing internal business processes, but has been expanding to building a digital ecosystem to serve customers. In particular, for customers in the private economic sector - from small and medium enterprises (SMEs) to individual business households, digital banking transformation helps reduce operating costs, increase access to capital and promote competitiveness. At the same time, with the existing strengths of small-scale industry, traditional services and developing local industrial clusters, the application of modern digital banking solutions helps narrow the gap between local businesses and the national financial and banking system.
One of the biggest difficulties for private enterprises, especially SMEs in Nam Dinh, is the ability to access loans. Previously, due to the lack of financial transparency, the loan process was still manual, and the documents proving credit capacity were cumbersome, making the rate of access to bank capital for this group of enterprises still low. To overcome that, commercial banks in the province have deployed a digital credit assessment platform, integrating data from taxes, electronic invoices, account transactions, social networks and credit history. Banks such as BIDV, Vietcombank, Agribank and MB have tested the implementation of super-fast loan packages specifically for SMEs with an automatic approval process based on AI and big data. In particular, with the cooperation of business support organizations such as the Provincial Investment Promotion and Enterprise Development Center, many businesses have been instructed to enter data on the bank's digital platform to access capital more easily. As a result, loan approval time was reduced from 7 days to 24 hours and interest rates were preferential according to priority industries (garment, footwear, logistics services, etc.). Joint stock commercial banks in Nam Dinh province have diversified preferential loan packages for online disbursement, targeting customers in the private economic sector, from individual households, private enterprises to SMEs, with highlights such as: 100% online disbursement via app/website (MB, MSB, Nam A, ABBANK, OCB, etc.); Low preferential interest rates: from approximately 4% (Agribank, ABBANK) to 5% (Vietcombank, BIDV, OCB); Multi-level suitable limits from several million to several hundred billion VND; Interest reduction, gifts, no service fees, flexible overdraft. These loan packages are very suitable for private enterprises in Nam Dinh, helping to reduce administrative procedures, increase transparency and facilitate access to capital sources for production development and business expansion according to Resolution 68-NQ/TW dated May 4, 2025 of the Politburo on private economic development. Currently, BIDV with the loan package "Connect - Reach out" and SME credit; interest rate from only 5%/year (term under 6 months); 5.5%/year (6-12 months) registered and approved via the digital system BIDV iBank, iConnect for SMEs, private enterprises, priority rural areas, women-owned businesses. Military Commercial Joint Stock Bank (MBBank) with a loan package from credit cards on the MBBank app; loan limit from 5 - 100 million VND (up to 75% of credit card limit); disbursement: 100% online via the MBBank app for individuals, small business customers.
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| Traditional fish care in Duyen Truong hamlet, Giao Nhan commune (Giao Thuy). |
Some banks have built specialized digital banking applications for private enterprises such as BIDV iBank, Vietcombank DigiBiz or MB Business Hub, providing features such as: Real-time management of business accounts; approval of expenses, salaries, invoices on mobile devices; integration of electronic accounting, electronic invoices; direct connection to payment gateways and e-commerce platforms; proposing appropriate financial, insurance, and short-term investment solutions based on operational data. These applications not only help private enterprises in Nam Dinh operate more effectively but also create a habit of using modern banking services, towards a completely digital financial and business ecosystem.
In addition, banks also coordinate with the Provincial People's Committee and departments and branches to deploy an online financial and legal support center, where businesses can: Look up tax and financial policies; Get basic legal advice via chatbot or bank specialist; Calculate credit risks, manage cash flow via smartphone applications. Proactively warning of financial risks and providing free digital consulting services help local private businesses feel secure in expanding their business operations, limiting legal problems or bad debts.
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| Bedding production at Sac craft village in My Thang commune (Nam Dinh city). |
With the support of digital banking transformation, the private economic sector in Nam Dinh is facing strong breakthrough development opportunities with the forecasted credit growth target of 12-15%/year in the period 2025-2030. The rate of small and medium enterprises accessing bank loans through digital channels will increase from 38% in 2023 to about 65% in 2027. The number of enterprises using specialized digital banks is expected to increase 4 times by 2030. The digitization rate of corporate financial services in the province will reach 70% by 2028. These figures not only affirm the essential role of the banking sector in digital transformation but also show that the potential to become a center of light industry, supporting industry and commercial services in the southern region of the Red River Delta of Nam Dinh is completely feasible.
To achieve this goal, in the coming time, the banking industry needs to focus on optimizing the local enterprise digital data system, building individual credit models, and proactively identifying corporate customers. Integrating digital banking into the development planning of small and medium enterprises in industrial clusters, traditional craft villages, and suburban areas. Developing comprehensive finance, ensuring that business households, cooperatives, and micro-enterprises can all access financial and banking services. Promoting inter-sectoral coordination between banks, tax authorities, departments of industry and trade, and business associations to promote digital transformation of enterprises associated with digital transformation of banks.
With the implementation of digital loan packages, digital banking for businesses, online legal and financial support and advanced digital technology platforms, commercial banks are gradually "untying" major capital bottlenecks for the private business community. With the participation of the political system, the private economy will certainly develop rapidly, making worthy contributions to the national economy as set out in Resolution 68-NQ-TW./.
Article and photos: Duc Toan
Source: https://baonamdinh.vn/kinh-te/chinh-sach/202506/chuyen-doi-so-ngan-hang-ho-tro-phat-trien-kinh-te-tu-nhan-ec93e49/
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