Topic 12: The development of Fintech in Vietnam.

1. Chọn chủ đề ptrien

- Fintech là
- Sự pt của fintech là
- Fintech gồm cg
- Sự pt của fintech đc đo bằng gì
- Những nhân tố nào góp phần cho sự pt của Fintech: cphu, pháp lý, dnghiep,
dân cư
- Nghiên cứu những nhân tố ahg đến sự pt của Fintech: ahg biến phụ thuộc,
fintech biến độc laapk => nckh: doanh thu của cty Fintech, số lg cty Fintech,
số lượng ng có thể truy cập, mtruong sinh thái, sự pt của cnghe ( sự đa dạng
của trí tuệ nhân tạo), tốc độ xử lý dữ liệu, spham mới??
- Lồng ghép yếu tố oppo và challenges
- K có ngân hàng, fintech là chủ đạo
2. Tdong của fintech vs sự pt của n.hàng
- Fintech thành biến, biến phụ thuộc là sự pt của ngân hàng
- Sự pt của NH là gì? Đo bằng gì?
3. Tdong của sự pt NH tới sự pt fintech
4. Mqh giữa Fintech và NH (hợp tác + cạnh tranh)
5. Hợp tác fintech + bank
Nh là 1 tổ chức Fintech rất lớn, có thể k đi đầu trong technology những đủ sức
mua.
- NH sẽ đi thuê, đi hợp tác để giảm chi phí
- Lợi ích khi hợp tác
- Đo sự hợp tác:
Chủ đề gì cũng cần
1. Fintech
2. Bank
Cô: rảnh thứ 2 tuần sau, 16h.
I/ Fintech
1. Definition
- Khái niệm : Fintech (financial technology): any technology that delivers financial
services through software (online banking, mobile payment apps, cryptocurrency,
…)
- Phân loại
- Đặc điểm (làm cho khái niệm trở nên rõ ràng)
2. Các công ty Fintech/ các hình thức công nghệ Fintech: ttrung vào các hoạt động
của nó, ttrung vào cách thức Fintech vận hành
3. Sự pt của Fintech: đo bằng:
- Nhân tố:
4. sự pt của fintech trên thế giới
II. Sự pt của Fintech ở Vnam
1. Giới thiệu chung
2. Phân tích, đánh giá sự pt đấy
3. Nhân tố: cơ hội, thách thức,hợp tác, cạnh tranh
3.1. Cơ hội dành cho sự phát triển của Fintech ở Việt Nam
3.2. Thách thức dành cho sự phát triển của Fintech ở Việt Nam
3.3. Giải pháp cho những khó khăn mà Fintech gặp phải khi đang trên đà phát
triển
3.4. Đánh giá mối quan hệ của Fintech và ngân hàng ở việt nam: hợp tác hay
cạnh tranh?
Nếu làm NCKH
I. Tổng quan: các nghiên cứu có lquan: nghiên cứu về các nhân tốc tác
động tới sự pt của Fintech…
1. Các công trình nghiên cứu: biến phát triển, nhân tố (tác động dương/ âm),
ngta dùng mô hình gì để chạy?
II. Mô tả các biến đấy ở VNam
1. Gthieu: pt sơ lược về Fintech ở Vnam
2. Mô tả các biến đó ở Việt nam
3. Sd mô hình đo ra kết quả
4. Giải thích kết quả
5. Khuyến nghị
2. Development history
- 1866 (first transatlantic cable was laid)
- 1967: marks the beginning of the modern FinTech ( first ATM machine by
Barclays)
3. Main Fintech services
a) E-wallet and digital payment services
Electronic and digital payment services have recorded a significant increase
- 2017: $ 6,775 billion
- At the end of 2021: $ 12,922 billion
- Vietnam: $22.056 billion by 2025.
b) Peer-to-peer lending (P2P lending):
- The global P2P Lending market development trend may reach USD 897.9
billion by 2024.
- It also brings a lot of challenges for Vietnamese startups .
c) Crypto/blockchain
- Blockchain as a new phenomenon of the world economy in 2021.
- Crypto/blockchain in Vietnam is also witnessing strong growth momentum
(Bitcoin Vietnam, VBTC, Axiie Infinite,... )
d) Crowdfunding
Value of crowdfunding transactions in Vietnam: 1.6 million USD (2017), > 1.9
million USD (2020)
e) Payment devices services
This sector is maintaining a stable popularity, accounting 7% for this service in the
market share.
f) Wealth management
- The proportion of Fintech enterprises operating in the field of Investment
and asset management in recent years is showing signs of slowing down
(7.5%).
- The "provision" of technology solutions for this field is still in short supply
and is an opportunity for many startups to participate.
g) Other services
They are including many types of services, generally recorded not much change,
accounting for 15% of all including services.
4. Some typical companies of Fintech Vietnam
a. VNPAY Shop Service Trading Joint Stock Company
- Founded in March 2007, now is one of the top companies in payment
method.
- Will develop a simpler payment method that reduces social costs, changes
the society's cash usage habits, and promotes the development of e-
commerce.
b. ZaloPay
ZaloPay: an e-wallet platform and online payment system developed by ZION
Joint Stock Company (a member of VNG) to deploy in-app payment and scan QR
codes to pay on mobile devices.
c. Momo
- First established in 2007 and is currently active in the field of mobile
payments under the MoMo brand.
- MoMo: a smartphone wallet app that is available on iOS and Android
operating systems licensed by the State Bank of Vietnam
d. ShopeePay
- Since 08/06/2021, AirPay e-wallet officially changed its name to Shopee pay
wallet.
- With Shopee Pay e-wallet, you can easily pay any invoices or orders and
transactions arising in the Shopee ecosystem.
5. Fintech's strengths and weaknesses in Vietnam
a. Strengths
- Fintech market size in Vietnam
- Technology of fintech companies
- Attitudes of users and the government.
b. Weaknesses
 - Large disparity in industry market share
- Issues related to users and reputation
- There is legal attention, but currently there are no specific regulations.
II/ Opportunities and challenges for the banking sector
1. Opportunities (lợi thế so với cái gì? Phải có điểm tựa)
a. Market potential
Vietnam's population is large and young (more than 98 million people in 2021)
with a high percentage of smartphone users, reaching 72%.
b. Advantages of the technology sector in start-up ecosystem in Vietnam
Vietnam has become one of the fiercely competitive startup hubs in the region in
sectors such as Fintech, e-commerce, artificial intelligence (AI), food technology,
enterprise solutions and information technology services.
c. Policies & support for Fintech sector
The Government and the Prime Minister have promulgated many programs and
projects related to the diversified development of products and services in order to
create and complete the legal corridor, create a favorable environment for the
development of the Fintech market.
2. Challenges
a. Regulation
 Specific legal regulations for development cooperation between banks and
Fintech when sharing customer information, sharing risks and
responsibilities between parties and customers in this sharing economy
model are not available yet.
 Fintech activities need to be managed by many ministries and agencies, but
so far there are no specific regulations on management and supervision
institutions.
b. Technology infrastructure conditions
 The amount of data Vietnamese users generate every day is very large, so
many Fintech companies have taken advantage of the opportunity to exploit
this amount of data. However, the database of the banking industry is
 incomplete due to the lack of data on objects. have not had the opportunity
to access universal financial services
 Fintech is a relatively new field of operation in Vietnam, so many banks face
medium and long-term difficulties
c. Human resources
In Vietnam, human resources with specialized skills in finance and banking
account for a very large number (over 90%), but skills in information technology
(IT) are very poor and skills in foreign languages are not fluent. .
 Therefore, the banking industry is currently facing a trend of shortage of
high-quality personnel in specialized fields associated with technology.
d. Customer factor
 Customers using Fintech services are still not aware of the security of
personal information such as full name, identity card number, passport,
address, date of birth, account number... This potential problem has a lot of
risks, which can greatly affect those involved in Fintech activities.
 The habit of spending and using cash among people is still quite high,
leading to difficulties in expanding the Fintech market.
e. Competition with banks
 Comparision
We can break down the differences between fintech and traditional banks into four
categories:
- The way of doing business
- Regulations
- Growth potential
- Risk factors
 Risks from banking-like services provided by non-bank businesses
- Firstly, for deposit services, at commercial banks, customer deposits
relatively high safety
- Second, in the credit sector, banks must appraise borrowers and thereby
ensure loan quality, contributing to ensuring capital safety. used to lend
 - Third, for payment services, relying on technology sometimes exposes
Fintech companies to risks of system failure, stability of the payment
system, network security issues.
 Security risk of users' personal information:
- Because of the large customer database, the possibility of customers'
information and personal data being stolen and disclosed to other objects is
quite possible.
- However, in Vietnam, where the legal system is still relatively
unsynchronized and slow to keep up with socio-economic development, the
problem here is that our legal system is not yet compatible. and keep up with
the constant innovation and rapid pace of Fintech.
III/ Solutions
1. Create a supportive legal corridor
The early promulgation of the Decree is expected to promote innovation, limit
unfair competition, prevent illegal acts, and protect the interests of service users. In
particular, it will limit the risks for customers when participating in using Fintech
services that have not been officially authorized.
2. Improve technology infrastructure
Technology infrastructure conditions need to be improved to meet the
requirements of modern technology development, especially security technology.
3. Enhance the level of human resources
IT engineers who are good at IT need to have more in-depth financial knowledge
to be able to easily program applications for Fintech products and services,
especially in the Banking industry.
4. Raise customers’ awareness
Customers need to know how to security personal information such as full name,
identity card number, passport, address, date of birth, account number... because it
directly affects their interests.
5. Strengthen cooperation between Fintech and banks
The cooperation between Fintech and banks is considered a premise for improving
access to financial - banking services for users in Vietnam, bringing great added
value to customers. MY
IV/ Fintech around the world
In recent years, the world has witnessed an explosion of investment in the global
Fintech sector.
Fintech continues to have strong growth in the near future.
Fintech companies headquartered in the United States and China lead the ranking
of largest fintech companies worldwide by market capitalization.
 2021: the largest two were the payment companies Visa and Mastercard,
both headquartered in the United States (market capitalization of almost 478
billion and 368 billion U.S. dollars, respectively).
 Chinese Ant Financial (Ant Group), ranked third with a market
capitalization of 312 billion U.S. dollars.
 European headquartered companies, such as Stripe, Adyen, and Klarna were
also among the top fintech companies by market capitalization.

1. USA: the land of unicorns

The fintech sector is famous for being filled with successful companies that
have turned into unicorns.
 The term “unicorn” refers to a privately held startup company that has a
valuation that exceeds one billion U.S. dollars.
The United States did not only have the largest fintech companies, but also the
highest number of fintech unicorns.
5/10 most valuable fintech unicorns were headquartered in the United States.
- Visa Inc
- MasterCard Worldwide
- Fintech in the USA: 4 trends, their implications, and the way forward in
2022
2. China & lessons learned for banking sector in Vietnam
- By the end of 2015, China had 500 million FinTech users, and its total
market capitalization exceeds 12 trillion yuan ($1.87 trillion).
- Tencent, Alibaba, Baidu and JD, are among the 10 leading public internet
company in the world.
- Key business and technology in the FinTech industry of China.
- Challenges in China FinTech Industry.

3. Lessons learned from the challenges in China Fintech Industry

- Continually optimizing the policy environment.
- Supporting for innovation
- Improving infrastructure
- Enhancing consumer protection
V/ Conclusions
Today, with strong innovation capabilities, FinTech is making the financial
industry develop more efficiently and enabling better financial services&products.
We still have to observe, analyze and explore the FinTech industry to build a
FinTech management and service system that is really suitable for the development
of the economy and finance of each particular country.