Recent natural disasters, storms and floods in Vietnam have created many important opportunities for banks and financial institutions
- Opportunities to review and reassess internal systems
- IT systems: Assessing and upgrading IT systems helps financial institutions strengthen resilience and security, ensuring operations are not disrupted in emergencies.
- Risk management systems: Building and integrating natural disaster and environmental and social risk management systems helps financial institutions identify and manage risks more effectively, thereby minimising losses and enhancing sustainability.
- Opportunities in social responsibility communications
- Social responsibility communications: Financial institutions can seize this opportunity to build an image as a highly socially responsible business, earning the trust and support of the community and customers.
- Opportunities in products and services
- Post-disaster products and services: Developing products and services that meet customers’ urgent needs after a disaster, such as preferential loan packages, disaster insurance, and financial services that support recovery.
- Products that demonstrate social responsibility: Creating new products and services that demonstrate the business’s social responsibility, helping customers overcome difficulties and stabilise their lives.
- Opportunities in new customer segments
- Customers who need to buy new vehicles and means of production: Offering financial products that help customers purchase vehicles, means of production and essential goods, enabling them to recover quickly after a disaster.
- Opportunities in new distribution channels
- Collaborating with new partners: Expanding distribution channels through collaboration with suppliers of essential goods, government agencies and social organisations, improving the ability to reach and support customers.
These opportunities not only help banks and financial institutions improve operational efficiency and their capacity to respond to risks, but also contribute to building an image of a highly socially responsible business, earning the trust and support of the community.
VietESG, with its team of Business Continuity Planning (BCP) experts, supports banks and financial institutions in many important areas
- Assessing and upgrading internal systems
- IT systems: VietESG can carry out a comprehensive assessment of infrastructure, hardware, network connections and external vendors. It can also train and upskill IT management staff.
- Risk management systems: Building and integrating natural disaster and environmental and social risk management systems into existing systems, including appraisal procedures, the ABC Score Card rating system, and risk management measures.
- Developing and launching new products and services
- Post-disaster products and services: VietESG can advise on and support the development of products and services that meet customers’ needs after a disaster, such as preferential loan packages, disaster insurance, and financial services that support recovery.
- Products that demonstrate social responsibility: Creating new products and services that demonstrate the business’s social responsibility, helping customers overcome difficulties and stabilise their lives.
- 3. Supporting risk and asset management
- Assessing and reviewing Risk-Weighted Assets (RWA): VietESG can help reclassify high-risk assets, adjust risk weights and apply appropriate risk management measures.
- Response plans: Researching and developing response plans for when high-risk assets are affected by natural disasters.
If you are interested in VietESG’s services, please contact us for support and more detailed advice:
Mr. Phạm Quốc Hưng – BCP – ESG Expert
email: quynhhoa@vietesg.com
phone: 0969060290
