Banks going the fintech M&A routeVietnamese fintech companies can expect a raft of foreign financial institutions seeking a relationship with them, as the latter have found this route a promising one to access the underbanked population of the country. “They’re all looking at and studying opportunities for investment in local fintech companies,” Choi confirmed. Since then, local fintech has opened to welcome the next generation of fintech players like Weezi Digital, KIU, Wecash, Enablecode, Instant.vn, and Tradle, who were announced as winners of the recent Fintech Challenge Vietnam competition. Local banks want a piece of them as part of their digital banking strategy growth, evident in the co-operation between these winners and local banks like BIDV, Vietnam International Bank (VIB),TPBank, VietinBank, Vietcom- bank, and VPBank. Foreign banks want to get to know their apps as well and use them to tap into the underbanked population.
