To help technology businesses get up-to-date on the latest global trends and technologies, HCM Computer Association (HCA), Fintech Academy Singapore, the Vietnam Banking Association, and the Institute for Development and Research in Banking Technology of Vietnam National University HCM City plan to organize the 2019 Vietnam ICT Outlook (VIO 2019) conference in HCM City on October 31, 2019.
The conference, titled ‘Shaping the future of Vietnam Fintech’, will discuss topics such as fintech and changes in technology, payment services; cybersecurity challenges for fintech; fintech and the workforce; policies and platform development for the fintech industry; machine learning and AI in the fintech marketplace; and fintech and innovative start-ups.
According to a report by Vietnam News Agency, VIO 2019 will also feature the 2019 Top ICT Vietnam awards ceremony on October 30 to honor outstanding IT and telecom companies, products and services and an exhibition where banks, fintech and IT companies will showcase their products.
Sky’s the limit
According to a report by Casey Hynes on Forbes, Vietnam’s fintech market will reach $7.8 billion by 2020. In a recently published report, “Unlocking Vietnam’s Fintech Growth Potential,” Solidiance, an APAC-focused consulting firm attributes the uptick to several factors, including high internet and smartphone penetration rates in urban centers, increased popularity of e-wallets, rising income and consumption, and a growing e-commerce sector.
The company also credits the Vietnamese government with creating an “increasingly supportive regulatory framework” via the creation of the Fintech Steering Committee and other measures. If the government is successful in its plan to reach 70% banking penetration within the next two years, that could further accelerate the fintech market, where startups are already creating solutions such as lifestyle banking services and a range of mobile wallet and digital payments solutions.