I. Vietnam’s fintech landscape and its rapid growth

A. Overview of the current state of fintech in Vietnam

The Vietnamese fintech space is in a growth trajectory, with supportive regulations, government policies, and investment attractiveness in the Asian region. In recent years, financial technology, or fintech, has been transforming a wide range of financial services, being adopted rapidly and attracting hundreds of billions of dollars in global investment value. Credit Card was having a market share of 18%, E-wallets with share of 14%, and Debit cards 10% in Vietnam during the year 2021 with cash observing a continuous decline from a market share of 86% in 2017 it reached a level of 54% in 2021.

Credit Card was having a market share of 18%, E-wallets w share of 14%, and Debit cards 10% in Vietnam during the year 2021 with cash observing a continuous decline from a market share of 86% in 2017 it reached a level of 54% in 2021.

B. Analysis of the factors driving Fintech growth in Viet Nam

Why people choose using digital money
Why people choose using digital money ?

C. Exploring the untapped opportunities in the fintech space

Vietnam market is well positioned for continued growth in fintech businesses given:

– Vietnam’s internet penetration reached 54.2% of the population in 2017 (95% internet users get online daily; the number of weekly online users is 5%);

– Smartphone ownership accounted for 30% with 28.77 million users (56% of all smartphone in the country are in the urban);

– There was 35.4 million online shopping users in 2017 with the average spend of USD 63 online in 2017. It is expected to grow to 42 million users, make up 42.5% of the projected population and their spending would be rise to USD 96 by 2021 due to development of economy as well as internet penetration.

-The number of paid online for internet purchase in Vietnam is 9.6%, well below than East Asia and Pacific countries – 80.3%. (World Bank)

II. AlphaTech’s Fintech Projects

A. Introduction to AlphaTech’s expertise in Fintech development

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Fintech solutions create opportunities to decrease labor costs, increase revenues, and enhance the consumer experience for securities company

B. Showcase of successful fintech projects undertaken by AlphaTech

  1. 360P@y – SAIGON THUONG TIN COMMERCIAL JOINT STOCK
BANK
  • Overview: The 365P@y mobile application is developed for Sacombank Laos and aims to enhance the banking experience for Personal Card Customers. The application provides a range of convenient features and functions to facilitate seamless financial transactions and card management.
  • Key features: Global QR Payment, Chatbot for Service Center, Biometric authentication
  • With +10.000 users, 365P@y offers several business benefits, including enhanced customer experience, increased convenience, improved security, regulatory compliance, cost savings, competitive advantage, operational efficiency, data-driven insights, customer retention, and business growth.

and some similar application: mCard SacombankiShinhan Finance.

2. DCF Vietnam – DCF VIET NAM CORPORATION

  • Overview: DCF Vietnam, a Valuation and Consultancy Firm, aims to develop a management web app that enables consumers to assess the value of properties and negotiate final prices for buying or selling.
  • Key features: Big data analytics for properties market research, Comparative market analysis, Property insights and reports
  • DCF Vietnam with increased competitive edge, expanded market reach, data insights and analytics, improved efficiency, enhanced customer satisfaction, increased revenue opportunities. These benefits contribute to the firm’s success, growth, and profitability in the real estate industry.

Discover a world of possibilities with AlphaTech’s cutting-edge fintech solutions. Leverage technology to revolutionize your financial operations and drive unprecedented growth for your business. Embrace innovation and stay ahead of the competition by exploring AlphaTech’s expertise in fintech development. Contact us today to have a FREE consultation!

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