Vietnam is a promising market for Swiss fintech startups seeking to expand their reach. In a new report by Switzerland Global Enterprise (S-GE), opportunities in the financial technology sector are outlined, highlighting key verticals and emerging trends in the market for Swiss fintech companies to capitalize on.
One major opportunity is digital banking propositions, with banks actively teaming up with tech providers to embrace APIs, cloud technology, and embedded fintech to deliver convenience, choice, and speed to Vietnam’s young digital-first consumers. Another is the payments sector, which is the leading vertical in the domestic fintech sector, attracting much of fintech funding activity.
P2P lending is another segment that’s growing steadily, and the second largest fintech vertical in Vietnam at the moment. This segment offers several opportunities for Swiss fintech startups to address the lending gap and provide innovative solutions for local P2P lenders, such as credit scoring technology and data analytics.
The report also highlights the personal finance and investment sector, which is benefitting from the influx of new investors. Rising stock trading activity is introducing opportunities for fintech firms to develop solutions that educate customers and assist them in managing their finances.
Finally, blockchain and cryptocurrency is another fintech sector that’s recorded strong traction and is expected to grow further, supported by the country’s information and communications technology (ICT) workforce, which is eager to embrace blockchain technology and explore its applications.
The report notes that in Vietnam, rising demand for digital financial solutions, supportive policies, and government initiatives to nurture fintech innovation are providing tremendous opportunities for Swiss fintech players to tap into. These initiatives focus on helping financial institutions digitize their systems, improve service quality, and customer experience.
Overall, the report outlines five major opportunities for Swiss fintech startups in Vietnam’s financial technology sector. Vietnam’s rapidly developing fintech ecosystem, combined with its young, digital-first consumer base, presents a unique window of opportunity for Swiss fintech companies to expand their market reach and capitalize on the country’s fintech boom.
