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Banking & Finance

BE Group & VPBank partner in fintech ecosystem

Released at: 22:57, 30/05/2019

BE Group & VPBank partner in fintech ecosystem

Photo: Khanh Chi (VET)

Two ink a strategic partnership on providing payment and financial services.

by Hong Nhung

The BE Group JSC, the owner and developer of the “be” app, and the Vietnam Prosperity Joint Stock Commercial Bank (VPBank), announced on May 30 a strategic cooperation to enhance the digital financial ecosystem and help optimize demand for payment and consumption among individual consumers and drivers, as well as to effectively support the business activities of large businesses as well as small and medium-sized enterprises (SMEs).

beFinancial, the new financial service developed by the BE Group, will be among the best mobile financial service platforms for Vietnamese people to meet daily needs as well as to support the business activities of large businesses and SMEs. It will provide VPBank’s financial services in technology and the fintech ecosystem of “be”, including payments, loyalty and rewards programs, and financial services.

The partnership with VPBank in the financial sector marks the start of BE’s goal of creating an open technology ecosystem. “be” will develop into a platform rather than an app, allowing and welcoming many suitable units, instead of monopolization. In particular, for any Vietnamese startup or enterprise sharing the same direction, the company is always ready to jointly develop and support the Vietnamese business community.

According to the cooperation memorandum, the BE Group and VPBank this year will cooperate to launch payment and financial services for individual consumers, drivers, and corporate customers. For each group, BE and VPBank will rely on the strengths of both to provide appropriate products to meet the needs of each customer group.

“As a Vietnamese tech company, BE aspires to bring a coherent solution to simplify the complexities in everyday life and become a bridge between every customer and service provider,” said Mr. Tran Thanh Hai, CEO of BE Group. “beFinancial, included in our commitments after the deployment of transport services, is a digital financial product. Therefore, the partnership with VPBank is expected to bring a quick, secure and optimal payment solution for individual consumers and corporate customers, as well as more benefits to drivers so they can rest assured and concentrate on their work.”

“The partnership with VPBank in the financial sector shares our ecosystem with all enterprises in different operations of the same value chain, to bring the best products to customers and optimize their business operations. We believe that an open and symbiotic ecosystem to help each other will attract the participation of enterprises to bring sustainable values to both the enterprises and the economy.”

“Cooperating with the BE Group is the result of a process in building and developing digital banking solutions and services, as well as orienting to build valuable ecosystems for customers,” said Mr. Nguyen Duc Vinh, General Director of VPBank.

“beFinancial is a comprehensive and transparent financial solution for diverse customers in an ecosystem of traffic and transport, including the most outstanding payment solutions in the market at the moment. We hope that these pioneering financial solutions will bring significant benefits to the business community and individual consumers in BE’s ecosystem.”

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