VNG Corporation eyes new fintech solution partners at Enterprise Singapore (ESG)’s inaugural Southeast Asian Open Innovation Challenge at the Singapore Week of Innovation and Technology 2020 (SWITCH 2020) from December 7 to 11. (Photo Courtesy ESG)HCMCity (VNS/VNA) - Top Vietnamese internet company, VNG Corporation,is eyeing new fintech solution partners at EnterpriseSingapore (ESG)’s inaugural Southeast Asian Open InnovationChallenge at the Singapore Week of Innovation and Technology 2020(SWITCH 2020) from December 7 to 11.
Accordingly, VNGCorporation will be sourcing for innovation partners toco-innovate complementary technologies to supportits eKnow Your Customer (eKYC) solution which enablesdigital banking for banks and financial institutions.
VuMinh Tri, CEO of VNG Cloud and Vice President of VNG Corporation,said: “Like Singapore, Vietnam is committed to support innovation andhas made it easy for local businesses to access technologyfrom overseas, and startup funding, and invest in human capitaldevelopment. The relevance of technology has been made clear to businessafter COVID-19, and there’s a growing interest among corporates and SMEsin Vietnam to co-innovate new solutions for the growing fintech, retailand manufacturing industries.
Singapore’s market-ledapproach and its role as the technology hub for ASEAN is a potentialsource for technology and solutions to better service our business partners andconsumers. We will continue to seek collaborations with promising technologycompanies to strengthen our offerings and support our government ingrowing the fintech industry.”
VNGCorporation’s participation at SWITCH 2020 caps a series ofinitiatives to deepen innovation partnerships in a two-yearMemorandum of Understanding (MoU) that was signed in 2018between the National Agency for Technology Entrepreneurship andCommercialisation Development (NATEC) under the Vietnam’s Ministry of Scienceand Technology (MOST) and ESG. The MOU aimed to facilitatecollaborations for startups, ecosystem builders and tertiary institutionsbetween both countries.
NATECand ESG will renew the MOU for another two years at SWITCH 2020 onDecember 7, 2020.
Therenewal will build on existing collaborations between Vietnam and Singapore,with an additional focus on leveraging existing openinnovation initiatives such as the Singapore Open InnovationNetwork to crowd source solutions for corporates in Vietnam.
Overthe past two years, the MOU has strengthened the global innovation communities’ access to Vietnam’sstartup landscape. Ithas also connected startups from Vietnam to major technology hubs.
VentureCapital activities have also been strengthened./.
VNA
