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
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