Establishing the digital cornerstone for the Vietnam Bank for social policies through MSC’s mobile-money feasibility study

• Sep 8, 2025
• 1 min

With more than seven million clients, the Vietnam Bank for Social Policies (VBSP) saw mobile channels as a game-changer for outreach and efficiency. The VBSP engaged MSC to assess the viability of launching mobile money, SMS banking, and related digital services.

MSC blended demand-side research with operational diagnostics. We segmented customer needs, modelled potential uptake, and quantified efficiency gains from digital channels. A rigorous review of the VBSP’s technology stack, agent network, and regulatory context identified enablers and gaps. Scenario modelling compared wallet partnerships, bank-led mobile money, and hybrid approaches, which highlighted risk, cost, and scalability trade-offs.

Our final roadmap charts a phased rollout, from limited-function SMS pilots to a full mobile-money ecosystem integrated with national payment rails. The roadmap equipped VBSP with a clear business case, technology blueprint, and compliance checklist. It is now poised to deliver convenient, secure, and affordable digital financial services to Vietnam’s most vulnerable households.

The Vietnam Bank for Social Policies commissioned this project.