FINTECH CHALLENGE VIETNAM
Pilot and scale your FinTech in Vietnam with local corporate partners
Shortlist complete – Companies will be contacted directly
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.
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 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?
How do we leverage technology to develop the secure and traceable exchange of customer information among authorized users (e.g. banks)?
If you have an interesting FinTech solution for financial inclusion that does not fall under the above challenge categories, submit an application so that we can learn about it.
VIETNAM FINTECH CHALLENGE TIMELINE
This is the second edition of FinTech Challenge Vietnam
Roadshows @ 6 Cities in SEA
Announcement of Shortlisted FinTechs
Demo Day Selection
Demo Day & Vietnam FinTech Forum
Nov 19 - Feb 20
2019 - 2020
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 will be open until 23:59 (GMT+7) 25 September 2019
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:
How do I apply for FinTech Challenge Vietnam 2019?
You are required to submit an online application at the following link before 15 September 2019. Applications open 13 August 2019.
This application will be your official entry into the Challenge. The application consists of two sections: a questionnaire and a pitch deck (which you must upload). Incomplete applications and applications received after the deadline will not be considered.
My company is currently not based in Vietnam. Can I still sign up?
As long as your FinTech meets the application requirements, which includes being product-ready and interested to scale your operations across Vietnam, you are welcome to sign up.
Will I have to pay to join the Fintech Challenge Vietnam?
The application process is free. Travel grants may be subsidized by the corporate partner or ADB Ventures.
Will I be required to travel?
Yes. If your FinTech has been selected to present at Demo Day & National FinTech Forum on 6 and 7 November 2019, you are required and responsible to make the necessary visa application, travel and accommodation arrangements.
How will I know if my FinTech is shortlisted?
The shortlisted FinTechs will be notified via email by 20 September 2019. Please note that being shortlisted does not guarantee your participation at Demo Day. Demo Day participation will depend on the outcome of the B2B meetings with Corporate Partners during the weeks of 23 and 30 October 2019.
How will I know if my FinTech has been selected to participate at Demo Day?
FinTechs selected to participate at Demo Day will be notified via email by 15 October 2019. Demo Day participation will depend on the outcome of the B2B meetings with Corporate Partners during the weeks of 23 and 30 October 2019. If you have further questions, email us at FinTech@padang.co
PARTNERS & SPONSORS
Subscribe for Updates
© 2019 Asian Development Bank.