Japan’s Money Forward breaks into Vietnamese market

Japan-based Money Forward Inc., the largest provider of cloud-based asset and accounting management services in the East Asian country, recently set up its subsidiary Money Forward Vietnam in District 4 of Ho Chi Minh City.
Japan’s Money Forward breaks into Vietnamese market ảnh 1Japan-based Money Forward Inc.recently set up its subsidiary Money Forward Vietnam in Ho Chi Minh City. (Photo: The Bridge)

Hanoi (VNA) – Japan-based Money Forward Inc., the largest providerof cloud-based asset and accounting management services in the East Asiancountry, recently set up its subsidiary Money Forward Vietnam in District 4 of HoChi Minh City.

The 910,000-USD firm is the first Money Forward subsidiary in a foreigncountry. General Director Takayuki Tsuzuki is responsible for developingfin-tech products which are already popular in Japan and branching out newservices for the Vietnamese market.

As Vietnam has a lot of talented software engineers, and as Vietnam and Japanshare various similarities in their culture, engineers from both sides are ableto work together more effectively and smoothly, according to Takayuki Tsuzuki.

He said that it is his pleasure to work with Vietnamese engineers to bring areliable service to customers. Money Forward wants to launch a wide range offin-tech services to the Vietnamese market in the near future.

Set up in May, 2012, Money Forward provides “Money Forward”, a PFM service forindividuals which already has the largest market share in Japan; as well as“Money Forward Cloud Series” which is a cloud-based platform for businesses.

Since 2017, it has expanded its range of financial products, including “MFKESSAI” which is a deferred payment service for business-to-businesstransactions; “Sira Tama”, an automatic saving application; “STREAMED”, anautomated bookkeeping service; and “Manageboard”, a business analysis cloudservice. In particular, its free app for Android phones was selected as thebest app on Google Play for three consecutive years during 2014-2016.

The corporation was listed on the Tokyo Stock Exchange on September 29, 2017and in May this year, it announced plans to set up a crypto-currency tradingplatform and related media channels.

Money Forward now has more than 7 million users. –VNA 
VNA

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