Launching data management system of CIC

On December 8, the National Credit Information Centre of Vietnam (CIC) under the State Bank of Vietnam (SBV) and FPT IS jointly held a launching ceremony for the data management system - CG1 contract.

CG1 contract is part of the Financial Sector Modernisation and Information Management System (FSMIMS) project sponsored by World Bank.

The contract was jointly carried out by Vietnamese FPT IS and Singaporean DP Credit Bureau Pte Ltd. The project aims to enhance the operational capability for CIC on information technology platforms and professional processes.

The system consists of 2 components with 6 main modules. After more than 2 years, the CG1 system has been successfully implemented and achieved certain achievements despite some difficulties.

The system is built based on state-of-the-art technology, using a variety of tools and utilities from well-known technology firms around the world, enabling CIC to manage, integrate and diversify sources of information including not only traditional ones but also non-traditional ones and various data sources from organizations, businesses and individuals outside the banking sector.

In addition, it has a 3-tier database management system, a modern security system which prevents unauthorized access; allowing multiple users to access resources at once; a single login to all applications etc. The new system allows CIC to manage closely and decentralise to different groups of users, including SBV departments and agencies, SBV branches in provinces and cities, more than 1,200 financial organisations, 4,000 credit branches and 40,000 user accounts.

Thanks to this project, CIC has completed its new business processes with high specialization and automation. CIC can deploy channels to provide information directly from the CIC system to CIs' credit rating systems, minimizing the impact of human factors on the process.

With the successful implementation of the CG1 and the FSMIMS projects, CIC has acquired a modern information system to become an important pillar for the country’s financial infrastructure system.