Agribank: Leveraging the Industry 4.0 for financial inclusion
(Updated at 14:57, 26/3/2018)
Vietnam is taking advantage of Industry 4.0 and its positive social impact for sustainable economic growth.  The implementation of Agribank's mobile banking vans across the country is at the same time, achieving many big goals, ensuring the growth momentum for Agribank.
Agribank has the advantage of a largest commercial bank and the widest network in the Vietnamese banking system of nearly 2,300 branches and transaction offices and nearly 40,000 employees. However, providing loans in agricultural and rural areas is not a simple matter.
According to statistics of Agribank, in the Central Highlands, on average, every 18 communes have only 1 transaction office; in the Northern midland and mountainous region, on average, every 15 communes have 1 transaction office. The distance from the most remote commune to the transaction office is over 60 km. In addition, on average, a credit officer manages 800-1000 households in difficult road conditions.
From this fact, Agribank conducted transactions using “bank-on-wheels”. Agribank's initiative to bring mobile banking vans to rural areas is being supported by the Government, the State Bank of Vietnam as Agribank has made full use of the advantages of the shared economic model, this is also the perfect way for Agribank to retain its market share in the context of Industry 4.0 is spreading rapidly and taking its place in every corner of life.
Agribank’s mobile units are actually traditional bank transaction points using specialized vans and modern network connectivity via 4G sim and equipped with the necessary means of transaction to ensure the provision of most banking products and services such as receiving deposits; credit counseling, receiving and guiding loan applications for customers; disbursement, collection of principal, interest payment; opening a payment account and registering for services on the payment account; domestic debit cards, domestic payment services, payment of invoices, collection and payment; overseas remittances, ABIC Insurance, E-Banking, etc.
This is a practically suited model as the Government of Vietnam is implementing two important target programs namely poverty alleviation and new rural development in the spirit that everyone is benefiting from growth which heightens the deep humanitarianism that the Party, State and Government of Vietnam look forward to.
The implementation of Agribank's mobile transaction points across the country at the same time has achieved many goals, ensuring the growth momentum for Agribank. Most importantly, Agribank continues to expand its network in remote, remote areas throughout the country, improving access to banking services for the economy in general and in each remote, rural locality in particular; more investment tools to reduce and eliminate usury ; narrowing the gap between urban and rural areas, between mountainous, remote areas with urban, delta areas.
This has contributed to conveying the Party's and State's policies to the people's life, strengthening and increasing the trust of the people with the Agribank brand. . This solution proves that Agribank is not only a close, knowledgeable and dedicated brand in the feeling of people but also making a positive contribution to the sustainable development of agriculture and rural areas in Vietnam.

Huong Nguyen
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