|
| Tuesday, 21 March 2023, 17:00 HKT/SGT | |
| |  | |
Source: Tradepass | |
|
|
|
HO CHI MINH CITY, VIETNAM, Mar 21, 2023 - (ACN Newswire) - Vietnam's fintech has reached new heights and the newly introduced regulatory sandbox is further fueling its growth. It's forecasted that the country's fintech market will reach a staggering $18 billion mark by 2024.
Also, the approval for the National Digital Transformation Programme by 2025 given by the country's prime minister couldn't have happened at a better time, as it has accelerated the inclination towards fintech.
Housing close to 200 fintech organizations, now 66% of adults have payment accounts as listed by the Ministry of Planning and Investment. Not to forget, the perfect medley of 91.3 million smartphone subscribers and an internet penetration rate of 73.2 percent have made the situation more conducive for the industry's growth.
The success of these promising fintech organizations has been linked with their close ties with the banking sector that has created invaluable synergies.
Vietnam Banks Association (VNBA) has always been upfront in bringing favourable changes to the country's financial services industry, be it for lowering SMS charges for banking services or urging Visa and Mastercard to reduce several types of fees on Vietnamese banks during Covid. Its most recent move got a lot of attention when it stepped forward as the official supporting partner for World Financial Innovation Series (WFIS) that's shaping to be the country's premier fintech event.
In a statement issued, post confirming VNBA's support for WFIS, the Secretary General from Vietnam Banks Association, Dr. Nguyen Quoc Hung expressed his views on the event, he said, "This event, WFIS 2023, will be an opportunity for leaders, experts, technology and business executives from leading Banking, Insurance & Microfinance institutions in the region to share and update information related to digital transformation and also an opportunity for member organizations of HHNH to attend."
The World Bank Group has also been actively supporting Vietnam in becoming a high-income economy by 2045 and its Senior Financial Sector Specialist, Ketut Ariadi Kusuma who earlier spoke to VGP about the development prospects of corporate bond market in the country, is now keen to encourage technology innovations in Vietnam's FSI. He will also be seen as a key speaker for the same fintech event that's WFIS.
For big players, investors and even newcomers, the current nascent stage and relatively small size of the country's fintech market is making it particularly attractive for investment, considering there are a plethora of opportunities to get involved and scaling big.
Call it a coincidence but even the Executive Vice President from Techcombank (TCB), Kanishk Upadhyay has confirmed his spot as key speaker at WFIS and his views on the same has been very similar to Dr. Hung's where he expressed, "WFIS 2023 is bringing together leaders, experts, technology and business executives from leading Banking and Fintechs. The fully packed roster, is a great opportunity to not only update yourself on information related to the latest digital happenings, but also a chance to meet and pick the brains of the expert speakers in attendance. Can't wait!"
About Tradepass
Providing access to the global emerging markets, Tradepass brings together people, products and solutions to power events for unparalleled business and networking opportunities. Being the most accredited event company, it helps organizations: enter new markets, grow sales pipeline, close prospects, raise capital and identify the right solution-providers.
As a deal facilitator, Tradepass is always determined about exposing the most agile liquid growth markets, to enable all-round scalability and growth.
Media contact:
Shrinkhal Sharad
PR & Communication Lead
shrinkhals@tradepassglobal.com
+ (91) 80 6166 4401
Tradepass
Topic: Press release summary
Source: Tradepass
Sectors: FinTech
http://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
|
|
|
|
|
|
| Tradepass |
| Aug 22, 2024 20:27 HKT/SGT |
|
Datacentre & Cloud Infrastructure Summit (DCCI) gears up to transform the Kingdom's digital future |
| Aug 20, 2024 14:56 HKT/SGT |
|
Filipino FSI leaders earned major accolades at WFIS Awards 2024 |
| Aug 2, 2024 17:08 HKT/SGT |
|
Expleo, AI partner, to honour Philippines financial services pioneers at World Financial Innovation Series |
| June 10, 2024 10:30 HKT/SGT |
|
BDC geared to support business growth in Malaysia with innovative liquid cooling solutions |
| June 6, 2024 15:50 HKT/SGT |
|
IndoSec 2024 shaping up to be a Battleground for Giants |
| May 21, 2024 12:20 HKT/SGT |
|
The cybersecurity capital of Philippines, PhilSec now an essential choice for critical infrastructure |
| May 17, 2024 20:09 HKT/SGT |
|
Top executives from SDAIA, Saudi Aramco, Almarai, Saudi Pro League & many others coming to speak at Smart Data & AI Summit |
| May 1, 2024 15:42 HKT/SGT |
|
Vietnam to Rethink Financial Services After a Cutting-edge Show at WFIS |
| Apr 30, 2024 17:56 HKT/SGT |
|
DCCI fortifies stance for Malaysia's greatest show: Wins support from key government organisations |
| Oct 23, 2023 08:00 HKT/SGT |
|
Survival of the fintech - WFIS to unveil Indonesia's market leaders |
| More news >> |
 |
|
|
|
