Trang Chủ
The strategy for developing deposit insurance (DI) to 2025, with a vision to 2030, sets a target of 45% and 55% of depositors understanding the core contents of the DI policies by 2025 and 2030, respectively. The project for communicating the DI policy to 2025, with a vision to 2030, has been issued to specify the goals and solutions to carry out that task. Therefore, DIV needs to assess the current situation and propose solutions to innovate communication activities and raise awareness among depositors.
Current status of communication activities in deposit insurance policies in Vietnam
Currently, DIV focuses on disseminating the core contents of the DIV policies, such as the scope of insured deposits, insured institutions;
Deposit insurance premiums, coverage limits, payments to depositors, deposit insurers, and general issues on deposit insurance policies vary depending on the time and level of awareness of each public, in accordance with the DIV's communication goals.
Communication products such as information sheets, leaflets, posters, standees, websites, and newsletters are continuously produced, updated, achieving a certain coverage, and distributed to appropriate target audiences. In addition, DIV has implemented a lot of communication programs on DIV policies as well as DIV's activities through communication channels such as radio, television; printed and electronic newspapers; events, contests to learn about DI policies; VNPOST System; coordination with agencies in the banking sector. Through communication channels, the public's access to information is increasingly expanded, and the understanding of depositors and the public in general about DI is increasingly improved, thereby creating consensus in public opinion on DI policies and DIV's activities as well as increasing people's trust in the social security policies of the government.
Regarding the current awareness level of depositors, in 2023, DIV coordinated with the Institute of Psychology - Vietnam Academy of Social Sciences to survey a quantitative sample of 1,880 people who have deposits at an insured institution scheme as prescribed by Law. The survey locations include six provinces/cities representing key economic regions: Phu Tho, Hanoi, Nghe An, Da Nang, Lam Dong, and Can Tho. The survey selected a number of concepts about DI, the objectives of DI, and the rights and obligations of depositors to determine the general awareness level of depositors about the DI policies.
Accordingly, the general awareness of depositors about deposit insurance is at a fairly good level. The number of people who answered correctly all 10 questions about general awareness accounted for 37.4%. However, there are still many depositors who do not grasp any information at all (14%) or do not fully grasp this information. Of which, awareness of the objectives of DI is the best, followed by awareness of related concepts, and finally awareness of the rights and obligations of depositors. Regarding specific contents of DI policies, except for information on deposit insurers, insured objects, and insured currencies, not many depositors fully know other specific information about DI policies. Of which, awareness of some contents of the policies is still at a low level such as: insured institutions, types of deposits insured, deposit insurance coverage limits, and DI payment deadlines. Compared with general awareness, depositors' awareness of specific contents of deposit insurance policies is still limited.
Some sources of information chosen by depositors to learn about the deposit insurance policies include "Introduction by credit institution staff,"; "Television"; "Friends/acquaintances,"; "Through social networks," and "DIV Website"… Depositors all want to be provided with more information about all contents of the DI policies with the order of priority being deposit insurance coverage limit (this is also the content that depositors currently have the lowest level of awareness), insured deposits, DI reimbursement deadline, DI subjects and information on related banking activities.
Innovative solutions for promoting deposit insurance policies and raising depositors' awareness
The strategy for developing deposit insurance to 2025, with a vision to 2030, sets a target of 45% and 55% of depositors understanding the core contents of the deposit insurance policy by 2025 and 2030, respectively. Raising public awareness of the deposit insurance policies aims to protect depositors and contribute to the stability of the financial and banking system, ensuring that the public is continuously and fully informed about the benefits and limitations of the deposit insurance system.
Solution on a legal basis: Add the following: "Insured institutions must coordinate in disseminating DI policies" and "Rights and obligations of deposit insurer to disseminate the image and activities of deposit insurer".
In fact, the dissemination of the deposit insurance policies contributes to building the trust of depositors in credit institutions as well as maintaining the stability of the credit institution system, ensuring the safe and healthy development of banking activities. Thus, it can be understood that credit institutions are also the direct beneficiaries of the dissemination of the deposit insurance policies because people only deposit money in credit institutions if they have confidence. The Law on deposit insurance needs to stipulate the specific responsibilities of insured institutions.
The dissemination of the DI policies does not stop at disseminating DI policies and laws but is also reflected in the brand identity and image of DIV. For DIV to effectively disseminate DI policies and laws, it is necessary to supplement regulations on the dissemination of the image and activities of the deposit insurer. From there, the effectiveness of disseminating deposit insurance policies to the public will be enhanced, including the image and activities of the deposit insurer as the core in implementing the policies.
Communication solutions based on demographic characteristics of depositors: According to the 2023 survey results of DIV, the awareness level of people with low education and income is the lowest. Therefore, it is necessary to focus on spreading out communication on DI policies to this group. This is also a characteristic of small depositors in rural areas, remote areas, or with limited access to official information on finance - banking – and deposit insurance. Propose a communication coordination model between DIV, the Vietnam Women's Union, and the Vietnam Farmers' Union to reach these groups through exchanges, signing of Memorandums of Understanding, or Communication Coordination Programs.
Solution on information channels: DIV needs to closely coordinate with insured institutions in disseminating DI policies. In addition to specifying this in the Law, the research group proposes that DIV can sign individual cooperation programs and strategic communication partnerships with insured institutions and implement training programs for officers and transaction officers of insured institutions. Training can be carried out in many forms, such as competitions, game shows, online training programs, additional courses in the annual training program for bank officers, etc.
The second important information channel is television. To attract viewers, it is necessary to innovate the form of propaganda, such as creating short skits, fun Q&A programs, etc. Consider advertising on TV game shows with large spreads or prime time slots such as News, Weather Forecast, Sports, etc.
In addition, it is necessary to focus on building a specific communication plan on social media channels with current trending forms such as short videos, trending, timely updates, and creative and rich content. This form can also easily measure the effectiveness of communication through specific data on the number of views and interactions on each platform, thereby making appropriate adjustments.
The DIV website is also an option for depositors because it is the deposit insurer's official information channel and a reliable address for depositors to update necessary information about DI policies.
Solutions to increase participation in the comprehensive financial program: DIV needs to continue to coordinate closely with the State Bank and relevant ministries, departments, and sectors to implement comprehensive finance effectively. In addition, focus on communication on deposit insurance policies to depositors at small-scale insured institutions in remote areas. This can focus on financial education, implementing financial education activities for depositors and other public groups such as students. Aim to coordinate with universities to include content on DI in the official curriculum and reference books for students in economics, finance, and banking. It is possible to refer to international experiences of some countries in financial education for people through professional associations and local socio-political organizations.
Internal communication solution: With the goal of "each DIV officer is a communication officer for deposit insurance," DIV needs to pay attention to promoting internal communication through regularly disseminating information on policies and DI operations to all officers in the system to grasp the goals and viewpoints of the organization and the Board of Directors of DIV; thereby unifying in perception and action. At the same time, it is necessary to build awareness among DIV officers in preserving the image of the organization through the image and working style of each officer; building an office culture with the identity of DIV. Accordingly, communicate to form a team of DIV officers with solid expertise and a professional and trustworthy working style.
Resource solution: Propose strengthening training and communication for staff of all departments and offices of the DIV branches so that each DIV officer is a communication officer.
DIV also needs to periodically organize exercises to respond to unusual scenarios such as communication when reimbursement obligations arise; when a credit institution crisis occurs on a small scale, and when there is a chain reaction; response to the communication crisis of the deposit insurer; as well as other possible scenarios so that the communication officers as well as the departments and divisions of DIV are prepared and ready to resolve any unfavorable communication situations that occur promptly.
Technology is developing rapidly, and old techniques and platforms are quickly becoming obsolete. Therefore, DIV needs to periodically reevaluate its facilities and techniques, thereby upgrading and innovating professional means and machinery (such as cameras, computers, website servers) and the ability to apply new techniques (monitoring technology, data analysis) to communication activities.
Regarding financial conditions for communication work, it is proposed to evaluate the effectiveness of using communication funds and compare them with those of state financial units, organizations, and international deposit insurers based on the set awareness goals. If necessary, specific proposals on funding for communication activities will follow.
Communication Department (Translation)
