Vietnam

Vietnamese Banks Ramp up Fintech Development

Fintech is gaining popularity around the world including in Vietnam where experts and industry observers predict strong growth, driven by the country’s low banking penetration and young and increasingly affluent population. “Vietnam has strong growth potential for fintech development, and

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GrabPay Eyes Vietnam and South East Asia Digital Payments Dominance as Competition Heats Up

Grab, Southeast Asia’s first decacorn valued at more than US$10 billion, began its humble beginnings as a ride-hailing app but has since evolved into one of the region’s “super app,” providing varied services ranging from food delivering, logistics services, and

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7 Fintech Startups from Vietnam to Watch out for in 2019

With a little over 70 fintech companies raising only US$3 million in 2017, Vietnam’s fintech ecosystem remains relatively small and still in its early stage when compared to other ASEAN markets such as Singapore or Indonesia. Yet, the Vietnamese fintech

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Mobile Payments in Vietnam: End of 2018 News Roundup

Cashless payments are booming in Vietnam, more than doubling in value over the first three quarters of 2018. In particular, transactions over mobile apps and digital wallets rose by an impressive 126% and 161%, respectively, according to Department of Payments

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CIMB Launches Digital Bank in Vietnam and Digital Lounge in Saigon

CIMB Bank unveiled its first Digital Lounge in Ho Chi Minh City (Saigon) and launched its OCTO by CIMB  mobile banking app for consumers. Ho Chi Minh City hosts CIMB Bank Vietnam’s first branch presence following the establishment of its

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Vietnam Messaging App Zalo: A Super App which might be bought by Facebook in 2020

Following on the lead of other “super apps,” Zalo has been integrating new functions into its app, including a payment platform called Zalo Pay, which was introduced last year. Launched in 2012, Zalo is Vietnam’s premier chatting platform, with more

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Mobile Payments, Internet Banking See Rapid Growth in Vietnam

Vietnam has been experiencing a digital wave in its financial and banking industry, with payments through mobile banking services surging by a whopping 144% per year over the past five years, experts said at a conference last week. During the

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Vietnam’s Unbanked Can Now Get Credit Cards With Just A Phone And Good Behaviour

Personal finance comparison website GoBear and alternative credit scoring provider CredoLab announced that they’re teaming up to launch Easy Apply, a smartphone app that enables banks, financial institutions and lenders to extend credit to a larger pool of customers while

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Vietnam Welcomes New Fintech Bachelor Program

On September 26, 2018, the National Economics University in Hanoi officially held a launch ceremony for the new International Bachelor Program in Financial Technology. Attending the event were Prof. Dr. Tran Tho Dat, principal of the school, Assoc. Prof. Jenho

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P2P Lending Activity Accelerates in Vietnam

Peer-to-peer (P2P) lending is becoming increasingly popular in Vietnam with new players entering the market and regulators moving forward with creating a favorable environment. In September, a new company called Megalend Viet Nam Investment and Trading Corporation made its debut

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