Commercial banks could become technology firms by cooperating with technology firms, including telcos, to create a new growth space.
Analysts believe that mentors and angel investors in Vietnam are spending time taking care of their existing investment portfolios, rather than seeking new investors.
It may take businesses only several months to carry out digital transformation and process standardization instead of several years as once thought because of the impact of the Covid-19 crisis.
The investment capital poured into Vietnam’s fintechs in 2019 accounted for 36 percent of total capital into Southeast Asia. The figure was zero percent in 2018.
The State Bank of Vietnam (SBV) plans to set no limit on foreign ownership in fintechs.
The Vietnamese finance market has seen many investment deals by foreign investors who have poured money into startups, showing the attractiveness of the new industry.
Start-up activities are growing fast despite the slowdown of the global economy. The gap between Vietnam and the two regional leading countries, Indonesia and Singapore, has narrowed.
The others are just companies following traditional business models with a bit of innovation.
Investors say they have huge amounts of capital in hands and are seeking good technology startups to disburse the money.