FINTECH CHALLENGE VIETNAM

Pilot and scale your FinTech in Vietnam with local corporate partners

Presented by

Vietnam is on the verge of a FinTech-led transformation

Rising Internet, smartphone and banking penetration rates, combined with government initiatives to create a cashless Vietnam, are paving the way for the adoption of groundbreaking banking technologies that use big data analytics and artificial intelligence (AI) to help banks better serve their customers.

On the other hand, a significant proportion of Vietnam’s population, SMEs, and agricultural sector remain unbanked or under-banked. P2P lending, alternative credit scoring, value chain financing, and other technologies have potential to fill the gap.

FinTech Challenge Vietnam 2019 aims to accelerate this FinTech revolution by inviting the world’s leading FinTechs to collaborate with ADB Ventures, the State Bank of Vietnam, and local Corporate Partners to pilot solutions that further digital banking transformation and financial inclusion in Vietnam.

CHALLENGES

BIG DATA &
AI-ENABLED ANALYTICS
How can we enrich customer databases with external data to gain better understanding of customer needs and behavior without violating data privacy?

How can we leverage non-traditional credit data to upgrade current credit scoring models and better demonstrate the creditworthiness of retail customers, especially the rural and remote populations and / or SME customers without reliable/audited financial statements?

How can we leverage alternative data to verify customer identity digitally without violating data privacy, while ensuring the validity of customer information?

How do we leverage big data, AI, and other disruptive technologies to offer micro-insurance and micro-investment products to customers?

FINANCIAL
SERVICES
OUTREACH

How do we encourage customers to use mobile banking channels and improve mobile banking experience?

How can we educate communities with low financial literacy on how to use their money wisely and make good financial choices in an easy-to-understand manner?

How do we develop user-friendly financial products to make banking easier and more accessible to unbanked and under-banked customers?

How do we change customer payment behavior by making cashless payment solutions easier and more convenient to use for consumers and financially attractive for merchants?

CYBER
SECURITY

How do we review and evaluate transactions to enable effective monitoring of transactions and help with detecting unusual/abnormal activities?
How do we preemptively detect, identify, and predict financial cyber threat and cyber crime?

How do we leverage technology to develop the secure and traceable exchange of customer information among authorized users (e.g. banks)?

VIETNAM FINTECH CHALLENGE TIMELINE

This is the second edition of FinTech Challenge Vietnam

1 Aug

2019

Applications Open

All Aug

2019

FinTech Talk @ 6 Cities in SEA

15 Sep

2019

Applications Close

20 Sep

2019

Announcement of Shortlisted FinTechs

23-30 Sep

2019

Matchmaking Interviews

15 Oct

2019

Demo Day Selection

7-8 Nov

2019

Demo Day & Vietnam FinTech Forum

Nov 19 - Feb 20

2019 - 2020

Pilot Testing

PRIZES & BENEFITS

Shortlisted FinTechs will have their applications viewed by key partners of the Challenge.

Select FinTechs may also connect directly with Corporate Partners via Matchmaking Interviews.

Finalists will get to attend high profile events such as Demo Day and the Vietnam FinTech Forum where they can connect and pitch directly to key partners and investors.

FinTechs pitching at Demo Day will be competing for a prize pool of USD55,000 (TBC). Mastercard will sponsor two FinTechs to attend the 2019 Singapore FinTech Festival.

Following the Demo Day, ADB Ventures will consider funding a limited number of pilot tests in close collaboration with financial regulators and corporate partners.

ADB Ventures will remain engaged with the innovators behind successful pilots, and consider follow-on investment to scale solutions.

HOW TO APPLY?

Applications are closed this year but will open again for the next FCV

WHO SHOULD APPLY?

To quality for FinTech Challenge Vietnam 2019, your FinTech should:

Solve a challenge in the Financial Industry

Be a registered business

Be ready with a product or solution

Applicable to the Vietnamese context

FINTECH CHALLENGE VIETNAM 2018

This is the second edition of FinTech Challenge Vietnam, following a successful 2018 edition, which led to:

FinTech Applications

Pilot Opportunities

Finalists

Countries Represented

Commercial Agreements

Funding raised

PARTNERS & SPONSORS

Corporate Partners

Sponsors

Investment Partners

Technical Partners

Network Partners

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© 2019 Asian Development Bank.