解锁越南金融科技增长潜力（英文版）.pdf

solidiance UNLOCKING VIETNAM’S FINTECH GROWTH POTENTIAL May 2018 Solidiance has produced this white paper for information purposes only. While every effort has been made to ensure the accuracy of the information and data contained herein, Solidiance bears no responsibility for any possible errors and omissions. All information, views, and advice are given in good faith but without any legal responsibility; the information contained should not be regarded as a substitute for legal and/or commercial advice. Copyright restrictions (including those of third parties) are to be observed. 2 EXECUTIVE SUMMARY Financial Technology companies, or fintech, have been disrupting the financial industry around the world by changing the way consumers use financial products and services. This change is also visible in Vietnam’s financial industry, where fintech is leveraging rising bank penetration to promote value-add financial services while also offering the unbanked population access to alternative payment solutions. In 2017, Vietnam’s fintech market reached USD 4.4 billion in transaction value and is expected to grow to USD 7.8 billion by 2020. Several factors emerge as growth drivers of fintech in the transformation of Vietnam’s financial industry, such as: • The move towards an increasingly cashless society, with ambitious government targets aimed at reducing cash transactions to 10% of all payments by 2020 • Improve user experience in the financial services sector through cost and time saving, addressing a key pain-p