Soul Vessel in Dark Souls 2

No.

The soul vessel resets your stats back to what they originally were when you began the game, as the wiki states:

Does not allow the reallocation of base class stats. Only the points that the player has themselves allocated can be reallocated.

This means that you will never be able to lower your INT/FAI stat scores below 7/5 respectively.

Additionally, these stats can help build your resistance to magic, dark, fire and lightning damage, as well as your resistance to Petrification, and can also increase the damage you do with weapons imbued with magic, dark, fire or lightning effects.