Japan-based Money Forward Inc., the largest provider of cloud-based asset and accounting management services in the East Asian country, recently set up its subsidiary Money Forward Vietnam in District 4 of Ho Chi Minh City.

Japan-based Money Forward Inc.recently set up its subsidiary Money Forward Vietnam in Ho Chi Minh City. (Photo: The Bridge)

The 910,000-USD firm is the first Money Forward subsidiary in a foreign country. General Director Takayuki Tsuzuki is responsible for developing fin-tech products which are already popular in Japan and branching out new services for the Vietnamese market.

As Vietnam has a lot of talented software engineers, and as Vietnam and Japan share various similarities in their culture, engineers from both sides are able to work together more effectively and smoothly, according to Takayuki Tsuzuki.

He said that it is his pleasure to work with Vietnamese engineers to bring a reliable service to customers. Money Forward wants to launch a wide range of fin-tech services to the Vietnamese market in the near future.

Set up in May, 2012, Money Forward provides “Money Forward”, a PFM service for individuals which already has the largest market share in Japan; as well as “Money Forward Cloud Series” which is a cloud-based platform for businesses. 

Since 2017, it has expanded its range of financial products, including “MF KESSAI” which is a deferred payment service for business-to-business transactions; “Sira Tama”, an automatic saving application; “STREAMED”, an automated bookkeeping service; and “Manageboard”, a business analysis cloud service. In particular, its free app for Android phones was selected as the best app on Google Play for three consecutive years during 2014-2016.

The corporation was listed on the Tokyo Stock Exchange on September 29, 2017 and in May this year, it announced plans to set up a crypto-currency trading platform and related media channels.

Money Forward now has more than 7 million users. –VNA