Vietnam has around 100 million population (2023 data) attracting attention from the foreign investors  from Hong Kong, China, Singapore, Japan, and South Korea. Together with infrastructure and business development, the appetite for money is growing and consumer lenders are trying to satisfy the growing needs of the customers especially considering the difficulty of getting the bank loans.

About Vietnam

The market is very attractive not only by the population but also for the technological development which includes a variety of KYC, AML, telco and other data solutions. However Vietnam has a very unfriendly business environment for digital lending and other Fintechs. One of the factors is the absence of licences for different types of Fintechs. This leads to some other operational limitations: unclear legal structure, variety of interpretations of the laws,  restriction on usage of the data providers, for example credit reference bureaus, telco data, ewallet data etc. 

Our service gives an opportunity to at least partially fill out the gap in data provision in order to improve the credit risk assessment and fraud prevention for the Fintech industry. Using our service the Lenders can exchange the information about the borrowers without reporting it somewhere risking to have a data leak. The benefits of our solution are very clear: simple integration, credit bureau data with highly informative variables, safety and simple integration. More about our service in Vietnam can be found here.

Business environment

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