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Banking & Finance

Vietnam Fintech Conference & Exhibition 2019 on horizon

Released at: 08:10, 12/10/2019

Vietnam Fintech Conference & Exhibition 2019 on horizon

Illustrative image (Photo: Viet Tuan)

Conference and expo set for October 30 and 31 in Ho Chi Minh City.

by Linh Chi

The Vietnam Fintech Conference & Exhibition 2019 (VIO 2019) will be held in Ho Chi Minh City on October 30 and 31, according to an announcement from the HCM Computer Association (HCA)’s Secretary General Vu Anh Tuan at a press briefing in the city on October 7.

Experts told the briefing that financial technology (fintech) has greatly disrupted the way that banks and financial institutions operate today and with cash still being the main payment mode, a youthful demographic, and growing smartphone penetration, Vietnam offers great opportunities for fintech developers

According to HCA, around 10,000 fintech companies are operating globally, competing with banks in all fields, from payment services, deposits, lending, and foreign exchange trading to investment consulting.

Fintech companies in Vietnam currently focus on only three services: payment, peer-to-peer (P2P) lending, and crowdfunding, and some 70 per cent are startups.

Dr. Lillian Koh, CEO of Fintech Academy Singapore, was quoted by the Vietnam News Agency (VNA) as saying that the information and communications technology (ICT) sector is a key enabler for almost every industry and has enhanced Singapore’s competitiveness by raising productivity and transforming business processes in industries like finance, services, and manufacturing.

Fintech came as a disruptor but is now embraced as innovation and transformation, she noted.

VIO 2019, to be jointly organized by HCA, Fintech Academy Singapore, the Vietnam Banking Association, and the Institute for Development and Research in Banking Technology at Ho Chi Minh City’s Vietnam National University, will help technology businesses become updated on the latest global trends and technologies.

Entitled “Shaping the Future of Vietnam’s Fintech”, the conference will discuss topics such as fintech and changes in technology and payment services; cybersecurity challenges for fintech; fintech and the workforce; policies and platform development for the fintech industry; machine learning and AI in the fintech marketplace; and fintech and innovative startups.

VIO 2019 will also feature the 2019 Top ICT Vietnam awards ceremony on October 30, honoring outstanding IT and telecom companies and products and services and with an exhibition where banks and fintech and IT companies can showcase their products.

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