22:18 (GMT +7) - Wednesday 19/12/2018

Banking & Finance

Fintech Business Day 2018 held in Hanoi

Released at: 16:00, 29/11/2018

Fintech Business Day 2018 held in Hanoi

Photo: KISA

Day organized by Korea Internet & Security Agency on November 29.

by Minh Do

12CM Global’s expectation is to find Vietnamese companies to partner in developing its business model in Vietnam’s fintech market, CEO Sung Won Shin told VET at the Fintech Business Day 2018 held by the Korea Internet & Security Agency (KISA) in Hanoi on November 29.

KISA introduced South Korean fintech companies at an IR pitching session. The fintech industry plays an important role in the development of the future of finance, and Vietnam has many similarities with South Korean allowing cooperation between two countries’ fintech companies to be part of development.

Eight fintech companies - 12CM, Aizen Global, Antock, BI Cube, PAYCOQ, Payletter, Paylink Systems and Wininingl - held one-on-one business meetings with Vietnamese companies operating in the mobile platform industry.

12CM provides various online-to-offline (O2O) and fintech business programs on the basis of smartphone certification technology that uses a multi-touch method. “We compose six different kinds of O2O Mobile services in the cloud platform,” Mr. Shin said. “We have provided 540,000 stamps in the global market, connecting with 54 partner companies in 22 countries by aiming to extend our market in Southeast Asia and the EU.”

Vietnam is really booming and its mobile economy is doing great so quickly, according to Mr. Jay Cha, Director of 12CM Global, and this is why it focuses on the country. Beyond that, the relationship between South Korea and Vietnam is as strong as ever and young people in information technology and other industries are very intelligent, he added.

“We want to build up a business model with our partner,” he explained. “Our expectation is to find the right local partner for us. It’s pleasing to building good relationships with tech partners in Vietnam to penetrate into the mobile economy. Hopefully, after the business session, we will find some companies with potential and the ability to work with us as a partner.”

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