In Vietnam, the Credit Information Center (CIC) is the focal point for implementing the State Bank of Vietnam’s (SBV) credit information activities, as outlined in Circular No. 15/2023/TT-NHNN dated December 5, 2023. CIC is responsible for collecting, exchanging, processing, storing, and securing credit information, as well as creating credit information products and providing SBV’s credit information services. The goal is to enhance the quality of the national credit information database to support SBV’s state management objectives by expanding non-credit information sources.
On December 9, 2025, CIC and Funding Societies Vietnam (FSVN) signed a cooperation agreement. This marked a significant milestone as Funding Societies Vietnam, part of the Singapore-based Funding Societies Group—a leading digital financial platform for small and medium-sized enterprises (SMEs) in Southeast Asia—became the first non-government-guaranteed foreign lender to SMEs in Vietnam. This initiative aligns with SBV’s Circular No. 08/2023/TT-NHNN dated June 30, 2023, and Circular No. 12/2022/TT-NHNN dated September 30, 2022, connecting data with the CIC system. This partnership not only standardizes risk management processes but also delivers long-term benefits to the SME community.
Transforming Payment History into a “Credit Asset”
One of the major barriers preventing SMEs from accessing bank financing is not just the requirement for collateral but also the lack of comprehensive credit history when loans are obtained through non-banking channels. Many businesses, despite having stable cash flows and fulfilling timely payment obligations through these channels, lack updated credit data on the system, making them “unknown entities” to commercial banks.
As a Voluntary Credit Information Participant with CIC, Funding Societies Vietnam will periodically provide customer debt repayment data to the CIC system. This means every timely loan repayment helps businesses build and enhance their credit scores.
Representatives from both parties discuss the cooperation
Mr. Vo Tien Anh, CEO of Funding Societies Vietnam, shared:
“Similar to how advanced global financial models operate, we believe data is the key to unlocking capital. Funding Societies Vietnam’s collaboration with CIC is a strategic move to enhance transparency in the non-banking financial market.
Instead of fearing ‘control,’ we encourage our customers to see this as a benefit. Building a credible credit history on CIC, starting with small loans from Funding Societies, will serve as a valuable ‘passport’ for businesses to access larger loans with reasonable interest rates from both domestic and international financial institutions in the future.”
Contributing to Capital Flow in Line with Resolution 68-NQ/TW
This cooperation agreement is a practical step by Funding Societies Vietnam to implement Resolution 68-NQ/TW, issued by the Central Committee of the Communist Party of Vietnam on May 4, 2025, regarding private economic development. The resolution highlights that one of the biggest obstacles hindering SME growth is the difficulty in accessing credit.
The partnership between Funding Societies Vietnam and CIC enhances the financial transparency of private enterprises, providing reliable data for domestic and international financial institutions (especially from Singapore) to confidently extend credit. This, in turn, promotes sustainable private sector development in line with the Party and State’s directives.
Representatives from Funding Societies Vietnam and CIC pose for a commemorative photo
In addition to reporting foreign loan information, Funding Societies Vietnam is authorized to use certain CIC products under credit information and personal data protection laws. This enhances their credit assessment capabilities, shortens loan approval times, and provides a faster, more convenient customer experience.
Funding Societies is Southeast Asia’s leading digital financial platform for SMEs. We specialize in short-term financing solutions (trade finance, supply chain finance, etc.) with a quick online process and no collateral requirements, enabling businesses to seize immediate opportunities.
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