Sci-Tech

Second Fintech Challenge Vietnam launched

Technology solutions in the fields of big data, artificial intelligence, financial outreach and cyber security are the focus of the second Fintech Challenge Vietnam (FCV), which was launched in Hanoi on August 13.
Second Fintech Challenge Vietnam launched
Second Fintech Challenge Vietnam launched ảnh 1The second Fintech Challenge Vietnam (FCV) is launched in Hanoi on August 13. (Photo: ictnews.vn)

Hanoi (VNA) – Technology solutions in the fields of big data,artificial intelligence, financial outreach and cyber security are the focus ofthe second Fintech Challenge Vietnam (FCV), which was launched in Hanoi onAugust 13.

The programme is held by the State Bank of Vietnam (SBV) with support of theMekong Business Initiative - a programme funded by the Australian Governmentand the Asian Development Bank. It will run until November this year.

According to SBV Deputy Governor Nguyen Kim Anh, the proramme’s corporatepartners include several commercial banks like TP Bank, Vietcombank, Vietinbankand United Overseas Bank, and telecommunications companies with licences forpayment intermediary services such as ViettelPay, and organisations who areseeking technology solutions to improve business efficiency as well as promotefinancial inclusion.

Fintech firms can apply to join the FCV 2019 until September 25 atfintech.mekongbiz.org. Applicants with the best solutions will have anopportunity to demo their products and services at the Demo Day scheduled forNovember 7.

Besides, Mastercard, a leading global payment andtechnology company, will help the two most excellent firms to present theirsolutions at the Singapore Fintech Festival to be organised the following week.

VinaCapital and ADB Ventures said they will make pilot investment worth up to500,000 USD in any solution which has positive impact on financial inclusion inVietnam.

Anh, who is also head of the organising board, expressed his hope that throughthe programme, domestic and foreign fintech companies will have chances toincubate and develop their breakthrough solutions and creative ideas, whilepromoting innovation, competitive edge and stronger collaboration in thefinance-banking market.

Meanwhile, ADB Country Director for Vietnam Eric Sidgwick described the FCV, whichdraws the participation of State management agencies, commercial banks andfintech firms, as a unique mechanism to boost sustainable technology solutionsso as to enhance finance and banking accessibility, and promote theeffectiveness and safety of finance in the nation.

The SBV launched the first FCV in2017 to spur innovation in financial services for greater financial inclusionin the country.-VNA
VNA
#Technology solutions #big data #artificial intelligence #financial outreach #cyber security #second Fintech Challenge Vietnam (FCV) #State Bank of Vietnam (SBV) #Mekong Business Initiative #Asian Development Bank #Vietnam News Agency #Vietnamplus
Follow VietnamPlus

Related News

Fintech market value to reach 7.8 billion USD by 2020

Fintech market value to reach 7.8 billion USD by 2020

The financial technology (Fintech) industry is thriving in Vietnam with the market value expected to increase from 4.4 billion USD in 2017 to 7.8 billion USD by 2020, according to a report by Solidiance, a management consulting firm in the Asia-Pacific.

See more

Young people visit an innovation event held in the northern province of Bac Giang. (Photo: VNA)

Russian expert hails Vietnam’s sci-tech development policy

Vietnam has chosen a right direction by setting the goal of making science – technology development, and innovation main driving forces for socio-economic development, said Dr. Grigory Trubnikov, Academician of the Russian Academy of Science and Director of the the Joint Institute for Nuclear Research (JINR) in Dubna (commonly known as Dubna Institute).

Prime Minister Pham Minh Chinh and delegates launch the "Digital Literacy Movement." (Photo: VNA)

PM calls for nationwide digital literacy to empower citizens

PM Pham Minh Chinh tasked the Ministry of Science and Technology and the Ministry of Education and Training with developing a digital competency framework tailored to different groups, ensuring that civil servants, students, and workers alike have the necessary digital skills to work, learn, and engage safely and effectively in an increasingly digital world.

Vietnam, Russia hold promising scientific collaboration

Vietnam, Russia hold promising scientific collaboration

Since 1982, when the Vietnam Academy of Science and Technology (VAST) became the official representative of Vietnam at JINR, the training of scientific personnel has been systematised, laying the foundation for the development of a high-quality scientific and technological workforce, playing a significant role in the country's renewal process.

UNDP Deputy Resident Representative in Vietnam Patrick Haverman speaks at the event. (Photo: VNA)

Report flags gaps in Vietnam’s AI push in public sector

A report funded by UNDP and conducted by the Institute for Policy Studies and Media Development (IPS) found that 87% of AI-integrated public sector projects remain dormant, while 70% of surveyed businesses and organisations rated their AI efforts as minimally effective.

Prime Minister Pham Minh Chinh speaks at the first meeting of the Government steering committee for the development of science, technology, innovation and digital transformation, and Project No. 06 on March 18. (Photo: VNA)

Prime Minister pushes for streamlined, data-driven government

Project 06 has shown tangible results, he said, highlighting the country has completed the issuance of 100% of chip-based citizen ID cards, activated over 61 million electronic identity accounts, and provided 40 utilities on the VNeID application. Online public services have been perfected, with 58 out of 76 essential online public services now available.

Vietnamese AI startup raises 1 million USD from leading investors. (Photo: VNA)

Vietnam's AI startup secures 1 million USD from major investors

Filum AI announced on March 18 that it had secured funding from regional prestigious investment funds, including Nextrans, VinVentures, and TheVentures, as well as strategic investors: Hung Tran (founder of Got It and AIforVietnam.org), Tran Anh Dung (founder of MOG) and other individual investors.

Prime Minister Pham Minh Chinh speaks at the first meeting of the Government steering committee for the development of science, technology, innovation and digital transformation, and Project No. 06. (Photo: VNA)

PM orders translation of Resolution No.57 into reality with tangible results

Chairing the first meeting of the Government steering committee for the development of science, technology, innovation and digital transformation, and Project No. 06 on March 18, PM Chinh, also head of the committee, laid stress on the significance of the resolution, which serves as the guiding principles for the country’s socio-economic development in the new era.