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The Fintech Challenge Vietphái nam has been useful đầu vào inlớn developing an enabling legal framework for the fintech ecosystem development in Vietphái mạnh.

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The Fintech Vietphái mạnh Forum was held today as the culmination of the 2019 Fintech Challenge Vietphái nam (FCV), aiming khổng lồ promotes financial inclusion & digital banking transformation.


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 Trusting Social (Vietnam) won the first prize at 2019 Fintech Challenge Vietphái nam.

The FCV is organized by the State Bank of Vietphái mạnh (SBV) with the support from the Mekong Business Initiative, a program jointly funded by the Australian Government and the Asian Development Bank (ADB).

 

“The Fintech Challenge Vietphái mạnh has been useful input đầu vào into developing an enabling legal framework for the fintech ecosystem development in Vietnam,” said Nguyen Kyên ổn Anh, the SBV’s Deputy Governor cum Chairman of the SBV’s Fintech Steering Committee. “We will continue khổng lồ gather lessons learned as the winning fintech startups develop & prepare khổng lồ deploy their solutions.”

Aiming lớn accelerate financial giải pháp công nghệ và industry collaboration for financial inclusion & digital banking transformation in Vietphái nam, the FCV this year attracted 208 applications by early-và growth-stage fintech companies from 28 countries around the world. 

“New technologies have exciting potential to lớn expvà access lớn finance for unbanked and underbanked groups, while enhancing the efficiency và financial security in Vietnam’s fast-growing market,” said Eric Sidgwiông chồng, ADB Country Director for Vietphái nam. “The Fintech Challenge Vietnam giới bodes well for financial inclusion và digital finance in Vietnam.”

 

The applications focused on big data và artificial intelligence, financial service outreach, & cybersecurity giải pháp công nghệ, which are the priorities identified by the SBV. The finalists presented their pitches before a panel of independent judges at the Demo Day on November 7. Three early-stage & three growth-stage fintech companies have won cash prizes totaling US$55,000, as below.

Mature Startup Track

 

1st Prize – Trusting Social (Vietnam) – Trusting Social uses data science and AI khổng lồ provide financial services for everyone, including the underbanked. Trusting Social has Asia’s largest credit scored pool.

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2nd Prize – Tookitaki (Singapore) – Tookitaki is a cyber security company providing transaction monitoring & machine learning-powered regulatory compliance management for clients in financial services industry.

3rd Prize – Interloan (Vietnam) – Interloan‘s P2Phường (Peer to lớn Peer) lending platform provides users with solutions for salary advances and micro-investment opportunities.

 

Early-Stage Startup Track

 

1st Prize – Kilimo (Vietnam) – Kilimo Finance allows banks to finance the agricultural sector by transforming agri-finance knowledge into attractive sầu loan products.

2nd Prize – Staple (Singapore) – Staple"s cognitive technology reads, interprets, & extracts structured data from business documents.

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3rd Prize – Touchless ID (India) –Touchless ID uses touchless biometrics khổng lồ verify users" identities through fingerprints or photos.