Illustrative image (Source: Internet)Hanoi (VNA) – The list of 16 finalists in the Fintech Challenge Vietnam (FCV) – the first-ever financialtechnology contest in thecountry has been officially announced, according to the Asian Development Bank(ADB) in Vietnam on March 20.
TheFCV was co-organised by the State Bank of Vietnam (SBV), the Mekong BusinessInitiative (MBI) – a programme funded by the Australian Government and the ADB,the Vietnam Bankers Association (VNBA), and the Vietnam Fintech Club.
It aims to encourage innovations in the financial services sector and promotegreater financial inclusion in Vietnam, focusing on five priority fields forfinancial inclusion, including e-Payments, e-KYC, Peer-to-Peer Lending, OpenAPI, and Blockchain.
The FCV had received 141 entries, including 45 from Vietnam and 97 from 27foreign countries and territories worldwide.
Fintech applications were judged on commercial criteria such as Innovation andRelevance, Management Capacity, and Scalability & Investment Readiness, andpotential impact on financial inclusion.
The finalists will present their products and business models in the “ShowcasePitch Day” scheduled for March 28. After that, they will be matched with FCVpartners who will serve as their mentors. They will work together in six-weekincubation and mentoring programme which will help refine and finaliseapplicants’ their business models in order to fit the local market context.
Inthe final competition “Finalists Pitch Session”, the candidates will presenttheir fintech solutions to a jury including members from big banks, financialexperts and investors.
The best solutions will have the opportunity to be introduced in the 2018Vietnam National Fintech Day, which was scheduled for May 28.-VNA
VNA
