Fintech Challenge Vietnam – Finalists Revealed
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The Fintech Challenge Vietnam (FCV) is organized by the State Bank of Vietnam (SBV) and the Mekong Business Initiative, the program is funded by the Government of Australia and the ADB. In addition, the Viet Nam Bankers Association (VNBA) and the Viet Nam Fintech Club (VFC) are co-organizers of the program. Program Partners include 7 commercial banks (BIDV, Vietcombank, VietinBank, Shinhan Bank, TP Bank, VIB, VP Bank) as well as FPT, Vietnam Silicon Valley, and VIISA.
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| Fintech Challenge Vietnam – Finalists Revealed |
The program aims to spur innovation in financial services that promote greater financial inclusion in Viet Nam, focusing on five fintech “verticals” that are critical for financial inclusion, including e-Payments, e-KYC, Peer-to-peer Lending, Open APIs, and Blockchain.
By the application closing date of January 31, 2018, FCV received 141 fintech applications, including 45 from Viet Nam and 97 from 27 countries in 5 different continents.
The program successfully attracted applications in all five “verticals.”
Applications have been systematically evaluated and scored by program organizers, co-organizers and partners. Corporate and investor partners assessed each applicant based on commercial criteria (Innovation and Relevance; Management Capacity; and Scalability & Investment Readiness) while the State Bank of Vietnam, ADB, VNBA evaluated the potential impact on financial inclusion of each fintech solution.
