Trang Chủ
Concluding the National Online Conference on policy communication at the end of 2022, Prime Minister Pham Minh Chinh stated that doing well in policy communication will open up great resources, creating great strength and effectiveness in formulating and implementing policies. Good policy communication is an important solution to bring policy and law to life. Directive No.07/CT-TTg dated March 21, 2023 of the Prime Minister on strengthening policy communication stated that in the context of the current information explosion, policy communication needs to be focused on, which improves professionalism in the whole system of state administrative agencies, contributing to creating consensus, improving efficiency and effectiveness in policy implementation.
In the context of Decision No.689/QD-TTg dated June 8, 2022 of the Prime Minister approving the Project of "Restructuring the system of credit institutions associated with non-performing loan settlement in the period 2021- 2025” and Directive No.06/CT-TTg dated March 12, 2019 on strengthening solutions to ensure operational safety and firmly strengthen the people's credit fund system are being actively implemented, the deposit insurer’s role in the restructuring credit institutions has been expanded, so disseminating deposit insurance policies when there are weak, and problematic credit institutions needs attention.
In Vietnam, the Law on Deposit Insurance stipulates that deposit insurance policy dissemination is a profession of the DIV. According to the provisions of the Law on Deposit Insurance, DIV has the task of “organizing the dissemination of policies and laws on deposit insurance; organize training and courses on deposit insurance”. Over 20 years of construction and development, with more and more diverse methods of disseminating deposit insurance policies to reach a wide range of public, DIV has spread the deposit insurance policy widely, satisfying the needs of the public. The information needs of depositors is increasing, contributing to influencing the authorities to improve the deposit insurance policy.
Maintain the trust, thereby protecting the legitimate rights and interests of depositors
The role of communication on deposit insurance is very important, not only to help deposit insurers build their image with the community, but also to help increase confidence and knowledge about finance and banking for depositors, contributing to maintain social stability.
In fact, people really need to learn about the deposit insurance policy, because once they understand and have knowledge of the important role of this policy, it will benefit not only the people themselves, but also benefits state management agencies as well as credit institutions. A full and accurate understanding of deposit insurance policies will help people to be responsible when choosing and depositing money at insured institutions, limiting the situation that some credit institutions use competitive methods with high interest rates to attract customers to deposit money.
In a market economy, high interest rates often go hand in hand with great risks. The Law on Credit Institutions 2017 opened the way to allow credit institutions to go bankrupt, so people will also consider when choosing a bank to deposit money. Besides, this also forces DIV to be responsible to people when credit institutions fail and similarly, credit institutions that receive people's deposits must also be responsible for the money people deposit.
According to the recent preliminary survey data of DIV, the majority of depositors know about deposit insurance policy information through depository institutions (59%); about 35% through friends and relatives; 25% through television, radio; 19% via press channels, social networks and 8% through local deposit insurance policy communication events. As can be seen, depository organizations play a huge role in bridging the gap between policy and depositors, and then through social relationships such as friends and family. Television and radio are also effective communication channels in disseminating knowledge about deposit insurance policies to depositors.
Also according to the survey, depositors said they want to access information through channels in the following order: Television (50.5%), social networks (44%), mobile applications activities (36.9%), online newspapers (34.9%), DIV website (34.2%), media events organized DIV (32%), radio (19.6%), newspapers (13.9%), loudspeakers at residence (13.2%), leaflets (10.4%). As such, depositors' demand is most concentrated in channels such as television, social networks, mobile applications, electronic newspapers, the website of the DIV and the media events organized by the DIV.
Currently, the DIV is actively using its website as an effective information channel, because 60% of depositors participating in the survey said that they access the website www.div.gov.vn to search for information. This shows that depositors' demand for information on deposit insurance and finance-banking is very large. In the past time, DIV has focused on exploiting, building and disseminating diverse and rich information about both deposit insurance and finance - banking on its website to meet the needs of depositors.
Unlike other types of commercial insurance, the core goal of the deposit insurance is not to "sell" a specific product, but to build and keep depositors' trust, so that to protect the legitimate rights and interests of depositors. Based on the survey results as well as the actual communication implementation, the DIV has grasped the information needs as well as the desire to access deposit insurance policy information of depositors, so it has been implementing synchronously effective forms of communication through many different media channels.
In Vietnam, DIV has been gradually diversifying and modernizing deposit insurance policy communication activities. In addition to the traditional forms of communication, the DIV also focuses on communication on the mass media. Through the website of the DIV, the information about the domestic and foreign deposit insurance is constantly updated, the content is diverse and rich, aimed at many different target audience. In 2021, the DIV coordinated with SBV communicating on the program "Hand box of keys" with vivid graphics in the form of graphics, contributing to spreading the deposit insurance policy closer to the public.
In addition, the DIV continues to integrate communication in the annual people credit funds’ events, in regular activities and thematic activities of local socio-political mass organizations such as the Farmers' Union, People's Union, Women's Union, Fatherland Front... thereby meeting the demand of direct communication to depositors in rural areas, depositors at people's credit funds.
Along with this communication channel, the DIV also disseminates the core contents of the deposit insurance policy flexibly through television channels with wide coverage, through national VOV channels in various forms such as: studio dialogue program, gameshow, reportage broadcast and communication skits... This is also an innovation in the method of disseminating deposit insurance policy in recent years, bringing communication effects to many depositors in all regions of the country.
Along with the synchronous implementation of communication methods, in recent years, the DIV has also promoted the dissemination of the deposit insurance policy to the leaders and staff of the insured institutions, especially the People's Credit Fund, so that they has an accurate understanding of deposit insurance, thereby being able to advise depositors at the counter. This is the shortest, most practical way to strengthen depositors' trust.
Not only that, disseminate the deposit insurance policy through the Vietnam Post system (putting a standee, sticking a poster with the core contents of the deposit insurance policy, directly related to the interests of depositors at transaction points. post offices, ...) has been deployed by the DIV, thereby reaching a large number of depositors in rural, mountainous, remote and isolated areas...
In addition to policy communication, a potential audience that is actively approached by the DIV and has initially brought about a strong communication effect is university and college students, especially the ones with the Faculty of Economics and Banking. Communication to this audience helps them have a correct and accurate view of, through which they can give advice to their family and relatives as well as have a knowledge premise for the process of working at the financial institutions in the future...
It can be seen that the renewed efforts in policy dissemination of the DIV are increasingly meeting the people's increasing demand for information on deposit insurance policies, contributing to strengthening the confidence of depositors through many methods. Diverse communication and professional activities are deployed regularly. This makes an important contribution to the behavior of depositors when there is negative information in the field of finance and banking. Effective communication of deposit insurance policies will help depositors stay calm and clear against false rumors, help them understand safe deposit skills, have confidence in the State's policies, and avoid risks of mass withdrawal, thereby contributing to the stability of the system and the safety of banking operations.
It is necessary to develop a communication strategy in accordance with the Development Strategy of deposit insurance
Communication strategies play an important role in preventing crises, protecting depositors and stabilizing the financial-banking system. The presence of the deposit insurer and their communication activities is a tool to help increase people's confidence in credit institutions and avoid mass withdrawals. In the event of a systemic crisis, the deposit insurer should ensure that depositors are aware of and have a clear understanding of the solutions that the authorities - including the deposit insurer - are implementing to handle the crisis and protect them. Depositors need to know more about deposit safety, crisis causes and policies, and the role of the deposit insurer. Therefore, the deposit insurer should also develop its own contingency communication plan, which clearly outlines the actual response capacity in the event of a crisis, ensures consistent communication content and the frequency of key information that is accurate and continuous for depositors.
To prevent mass withdrawals, communicating positive messages and providing accurate information to the public is an essential element of crisis management. At that time, the communication policy must meet the purpose quickly and promptly, reducing the negative psychology of depositors. Communication campaigns need to be widely deployed and closely coordinated with insured institutions and press agencies.
In the current context, when people's confidence is affected by the bond market and selling insurance through banks, the role of deposit insurance communication is even more important, thereby helping to strengthen and improve depositors' trust, equipping people with more knowledge and skills in accessing financial-banking products and services, choosing appropriate investment channels, especially safe savings. In order to further promote the role of deposit insurance communication, the deposit insurer needs to have a methodical communication strategy, targeting a wide range of public (including the disadvantaged, people in remote and rural areas, young people…) which is easy to understand, easy to remember, easy to apply, easy to spread. In particular, it is necessary to have a communication plan for each time and period to ensure it is appropriate and effective.
For example, in the stabilization period, the communication and dissemination of deposit insurance policies should be carried out regularly and periodically through various mass media channels suitable to the target audience. In addition, attention should be paid to organizing training courses to educate depositors financially and raise their awareness of deposit insurance.
In the period that there are weak and failed credit institutions, it is necessary to focus on transparent and widespread disclosure of information - especially information on protecting the legitimate interests of depositors. At the same time, the DIV should actively coordinate with the SBV and competent authorities to come up with necessary communication scenarios during this period in order to strengthen depositors' confidence.
Furthermore, the DIV needs to develop a communication strategy on deposit insurance in line with the Development Strategy. This includes a backup communication plan for the period of restructuring credit institutions. In addition, it is necessary to periodically evaluate the communicationb and dissemination strategy of the deposit insurance policy and conduct a survey on the awareness level of depositors in order to update and supplement specific solutions for each period.
On the other hand, in the world, applying the outstanding development of information technology and the industrial revolution 4.0, deposit insurance communication tools are increasingly diversified and modernized, which can be mentioned as mass media (television, radio, newspapers), electronic news sites and digital tools that are used more flexibly and creatively by deposit insurers. Therefore, in order to integrate into the wave of digital transformation, the DIV needs to build and increase its presence in digital environments such as social networks and digital media channels, thereby increasing awareness. In parallel, gradually increase the proportion of digital communication programs; increase the public's access to the deposit insurer, in order to promote digital interaction, contribute to helping the deposit insurer strengthen its reputation, and detect and handle media crises early.
Building a digital data warehouse on depositors - the target public and the general public is an important basis for building and implementing effective communication programs. In addition, the digital environment allows the DIV to actively listen and actively monitor public opinion in order to determine the direction and message of the media.
In the future, with the use of Bigdata and AI, the deposit insurer can synthesize, process and analyze data on the basis of algorithms, thereby automating digital communication operations and reducing costs of human resources, and at the same time increase communication efficiency... In order to achieve this goal, the DIV focuses on training qualified human resources; consider this as the most important solution to ensure success in the digital transformation process.
Good application of digital transformation in the field of deposit insurance policy communication will be the driving force to increase policy awareness, thereby enhancing public confidence. However, the digital transformation needs to be done step by step in a strategy of at least 3-5 years and must be constantly updated to keep up with modern scientific and technological advances, and at the same time testing, evaluating the effectiveness of the implemented activities to promptly improve and remedy.
Communication activities about deposit insurance in the world are more and more innovative, adapting to the process of modernization and development of technology. DIV needs to learn from the experiences and trends of international deposit insurers in deploying and updating communication programs to respond to changes in socio-economic life due to the process of integration and globalization.
Accordingly, to ensure implementation, the deposit insurer needs to invest resources including finance, human resources, technology and even a mechanism to coordinate with related agencies in large overall programs.
