Update news fintech

The next unicorn technology startups in Asia Pacific may come from Vietnam, as the foundation for a solid ecosystem to support these businesses is underway, according to the Asian Development Bank (ADB).

Vietnam's IT revenues up 18% in H1

Revenues from Vietnam's information technology (IT) sector in the first six months of 2022 were estimated at 72.5 billion USD, up 17.8% year on year, according to the Ministry of Information and Communications.

Vietnam among Asia’s most dynamic start-up scenes: Report

E-commerce accounts for less than 5% of retail in Vietnam, meanwhile, it is one-third in China. That means the country's growth potential is huge.

Fintech ‘sandbox’ needs clear legal landscape

Investors say that Vietnam's Fintech market, including e-wallets, is "extremely explosive", "fertile" and "attractive". But asked if they will invest in these fields, they say no.

VN startup refuses opportunity in US, stays in homeland

IMWI was once offered investment capital of $300,000 in exchange for 5 percent of shares, plus a promise to help obtain the right to settle down in the US, but it decided to stay in Vietnam to manufacture robotic arms.

Fintech, e-commerce remain magnets for venture capital

Fintech and e-commerce accounted for 70 percent of total venture capital in the country last year, and this trend is predicted to continue in 2022.

Fintech has great potential for growth in Vietnam

Financial Technology (Fintech) is made up of five types of financial services. The first two types have great financial potential, especially in developing countries like Vietnam.

VN State Bank to regulate fintech banking

The State Bank of Vietnam (SBV) has been developing a sandbox for fintech banking and gathering feedback on a draft regulating the sector.

Fintech awaits official policies

2022 is predicted to be the year for the financial technology (fintech) industry in Vietnam. There is also an expectation that a legal mechanism will be built in an open direction to enable stable development of this industry.

US$1.3 billion poured into Vietnam startups in 2021

Hot industries that attracted large amounts of capital last year were financial technology (Fintech), games, education, healthcare and e-commerce.

VNG invests $22.5 million in Funding Societies

VNG has invested $22.5 million in Funding Societies (operating under the name Modalku in Indonesia), the largest digital funding platform for small and medium-sized enterprises (SMEs) in Southeast Asia.

Mobile payment: new trend in Vietnam

Buyers nowadays only need to scan a QR code by their phones to pay for items, and shops have even stopped accepting cash payments.

MoMo's value surpasses $2 billion to officially become VN's unicorn

In the latest fund-raising round, financial technology startup MoMo received $200 million of investment capital, bringing its total value to over US$2 billion.

Use of Fintech services rises 3.5 times in 4 years in Vietnam

In only four years, the rate of Vietnamese using services of Fintech companies has increased from 16% to 56%. 

Fintech seeing rapid growth across ASEAN

As ASEAN and Vietnam in particular embrace the rise of digital payments, thanks to their young and digital-savvy populations, investors continue to pay more attention to the fintech environment.

Payment intermediaries have great potential in Vietnam

The field of payment intermediaries in Vietnam at this stage was considered to have high potential, becoming attractive to many foreign investors,

Decree for Fintech sandbox to be submitted in Q4

The Government has issued a resolution to create a sandbox for financial technology (Fintech) in the country’s banking sector.

50% of banks' lending decisions to be based on technology

A report of IDC conducted under the authorization of Backbase clearly shows two directions of development in the banking industry of Vietnam in the coming time: mobile transactions and tech-based lending activities.

Fintech forecast to be robust this year, driven by the creation of regulatory sandbox

The regulatory sandbox for financial technology (fintech) which is expected to be created this year, coupled with efforts to promote the use of digital financial services, are expected to accelerate the development of fintech in Vietnam.

Digital economy and fintech see growth amid COVID-19

The Prime Minister’s Economic Advisory Group met with the local fintech firm MoMo in HCM City on Monday.