Raising depositors' awareness about deposit insurance policy

Specifically, the DIV has built and developed many communication products, in which there are two official communication channels, namely the website of the DIV and the Bulletin of the deposit insurance with regular information  updates, ensuring high accuracy, helping convey the voice of the organization as well as becoming a forum on deposit insurance, attracting a wide range of public and serving as the source of information for depositors and relevant agencies.

In addition, DIV conducts communication on printed newspapers, electronic newspapers, radio and television;  develop and use many effective communication products and tools such as: Deposit insurance handbook, leaflets, posters, standees, video clips, other communication items... Policy contents are shown in an  intuitive, close, understands manner, making it easy for the public  to accept.

DIV disseminates the deposit insurance national, targeting the leaders, transaction officers and members of people's credit funds as well as depositors;  implementing programs, organizing contests to learn about deposit insurance policy with the participation of students from universities and colleges, who are potential depositors.  This is also one kind of public audience with a certain level of knowledge and awareness about finance and banking.  DIV participates in communication in major media programs conducted by the SBV in collaboration with VTV – National Television Station.

In order for the deposit insurance policy to be conveyed according to the criteria of "easy to understand - easy to approach - easy to remember", the DIV implements the integration of policy contents  and activities of mass organizations, socio-political organizations in different areas and localities such as Farmers' Union, Women's Union.... Piloting communication through the Vietnam Post system - a unit with a national network, reaching out to communes and wards with the  public target as the customer coming to the transaction points.  As a result, the deposit insurance policy has been spread to all public, helping them grasp the basic issues in the most accessible and contagious way.

In order to evaluate the effectiveness of communication as well as public awareness of the deposit insurance policy, the DIV has gradually applied survey measures, periodically assessing the depositors's level of understanding about the core  issues of the deposit insurance policy, thereby assessing the current status and supporting solutions to improve communication effectiveness.

According to the results of a narrow-scaled national random sampling quantitative survey conducted by the DIV, out of 1069 participants, 34.6% at the same time understood all the core information about deposit  insurance policy.  Most depositors were partially aware of at least 1 core policy element but did not fully understand the core contents of the deposit insurance policy, accounting for 61.6%.  Notably, 3.8% of depositors participating in the survey were completely unaware of any of the above policy elements.

Currently, the DIV is promoting an independent national survey with a larger sample size to assess the awareness level of depositors.  This is the basis for determining the current state of public awareness about the deposit insurance policy, determining the annual awareness increase target, and evaluating the effectiveness of communication operations;  as well as contributing to perfecting and improving the effectiveness of communication in each period.

In order to fulfill the political task of protecting the legitimate rights and interests of depositors, contributing to ensuring the safe operation of credit institutions, preserving the public confidence in the banking system, the  DIV realized that the level of awareness of the target public audience is a premise to continue promoting communication in the next stage.

According to the DIV, in order to achieve the target depositors' awareness level of 45% by 2025 and 55% by 2030,  so that depositors have grasped the core contents of the deposit  insurance policy, DIV will focus on completing the legal basis for communication activities, specifically amending the Law on Deposit Insurance to clearly define the functions and duties of the DIV in communicating deposit insurance policies and other policies related to depositor protection.  At the same time, it is added that insured institutions are responsible for disseminating deposit insurance policies and/or coordinating with deposit insurance policies in deposit insurance policy communication - an issue that is not regulated in the Law on deposit insurance.

Along with that, DIV will conduct research and develop a communication strategy to ensure the compliance with major policies of the Government and the banking industry.  This will be the basis and orientation for the communication activities at the macro level of the DIV in the coming time.

DIV also identifies the target audience to focus on communication as depositors, especially depositors in rural and mountainous areas, who have little access to information on banking operations  and deposit insurance.  However, other kinds of audience are also of interest, including public institutions, policy makers, and relevant agencies.

Regarding the form of communication, the DIV said that they will diversify and regularly research, develop, and innovate forms of communication and tools to reach the target public in a reasonable and effective manner  with reasonable cost, in line with the resources of the deposit insurance.

Specifically, DIV will continue to promote the use of official communication channels such as website and Bulletin of the deposit insurance;  communication on the mass media (newspapers, online newspapers, radio and television) to bring information about the deposit insurance policy to a variety of public.  In particular, they will do research, develop and apply new communication tools that are suitable for the development context of the current information revolution.

For the target audience, the DIV will organize communication events, especially in collaboration with socio-political organizations, agencies and units for integrated communication and gradually increase public awareness of the deposit insurance policy  ;  coordinate with credit institutions, banking association, People's credit fund associations to bring knowledge about deposit insurance into training programs for staff who directly deal with depositors, so that they will be able to  explain deposit insurance policies to customers.

DIV will actively participate in communication programs of the banking industry, convey to the public the major information and policies of the banking industry, create a general consensus among the public, and at the  same time improve public confidence.

DIV will gradually conduct surveys to periodically assess the understanding of depositors on core issues of deposit insurance policy, thereby assessing the current status and adverse solutions to improve the effectiveness of communication in the future  .