Vietnam's MSB halves loan approval time to 15 minutes

MSB operates 260 branches.

Vietnam Maritime Bank (MSB) has improved its loan approval speed by 200% from 30 to 15 minutes, according to a press release.

“The bank can now approve loans with a level of speed and accuracy that was previously unattainable,” said Nguyen Quang Man, deputy chief risk officer of MSB. “The ability to adapt quickly as market conditions evolve gives MSB a real competitive edge.”

MSB applied FICO’s intelligent decisioning system, which makes use of AI and machine learning models to automate and standardise its credit approval processes.

MSB operates 260 branches, with nearly 400 international correspondent banking relationships, and a workforce of over 7,000 people.

MSB was first established in 1991 and has a customer base of over 8 million individuals and businesses.