At the meeting, Mr. Reuben Lim, CEO of Singaporiean Fintech Association (SFA) expressed his thanks for receiving and talked to SFA and recent fintech development in Singapore.
Dr. Nguyen Quoc Hung - VNBA Vice Chairman cum Secretary General
SFA now has 6 boards and 9 committees with about 700 members, including banks, financial companies, law firms… SFA fintechs can provide B2B, B2C servies….SFA helps and supports members to have update related information and go abroad to invest...
SFA strategic plans: Making Singapore to be a focal point for Singaporean fintechs to expand operation to the region. Southeast Asia is the 4th economy in the world with much potentials for fintech to develop.
Regarding to the Fintech trends and challenges, Mr. Lim has introduced an overview on some focal points as Fintech macro lens and changing expectations, responsible Fintech and regulatory stack, embedded finance, Asset tokenization and Sustainability...
SFA will organize a program for Sing fintechs to visit Vietnam in mid-June, next year and hope VNBA will support this.
Mr. Reuben Lim - SFA CEO
He also refered to the Fintech Fair 2024 and suggested VNBA to introduce VN fintech companies to join this event.
At the meeting, Mr. Viet from VietFintech Club and SFA has also discussed on the orientation and technology needs of VNBA member organizations; Level of interest of credit institutions in technology applications in business operations (loan management, risk management, data management, etc.); Legal framework for the Fintech market in Vietnam; Sandbox mechanism; Development of Open Banking; Issues surrounding information security and data sharing...
Dr. Nguyen Quoc Hung has also introduced the organizational model and basic characteristics of VNBA and VietFintech Club. At the same time, he shared the main features of the digital transformation picture of the banking industry and the development of Fintech in Vietnam. Vietnam banks have not itself built fintech but seeked comprehensive cooperation with fintech partners. He expressed his welcome for the SFA's positivity, and affirmed that VNBA is ready to support and connect SFA members with member organizations and management agencies in Vietnam.
The meeting view
Regarding the SFA's market survey program, the VNBA General Secretary requested that SFA should provide a detailed plan including content, time, schedule, and working members so that VNBA can prepare carefully and provide the most effective support. VNBA would help to arrange the program, meetings with related organizations as SBV, MPI and many banks as well as VN fintechs. At the same time, he proposed that SFA and VietFintech coordinate to organize an international conference program on the fintech market, digital transformation, data security in the future to enhance exchanges and seek cooperation opportunities.
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