Fintech changes financial landscapeA handful of winners have been named in a large-scale fintech challenge, providing inspiration and opportunities for many other fintechs to capture. Vietnam can be very proud of these first-generation fintechs and, in the years to come, it can expect further innovative financial solutions, both from local and international fintech startups, to help it achieve a financial inclusion goal and nurture a fintech ecosystem. They will help promote the development of Vietnam’s fintech ecosystem through their innovative financial solutions.One of the judges at the FCV, Buncha Manoonkunchai, senior director of the financial technology department at Bank of Thailand, said that he sees great prospects on the country’s fintech horizon. And even though the infrastructure is not here yet, the ideas and the way they [fintech participants] think are so advanced. As such, a collaboration in fintech areas between countries, according to Manoonkunchai, could help Vietnam fulfil its financial inclusion goal and promote financial co-operation between Thailand and Vietnam, by using standards like standardised QR codes, for instance.A borderless fintech ecosystem seems attractive.

Source: VietNamNet News June 09, 2018 03:00 UTC