Financial Technology

Vietnam Fintech Summit 2024: Accelerating Innovation and Collaboration in Financial Technology

Published

1 week ago

28 November 2024

Professionals networking at the Vietnam Fintech Summit 2024.

Vietnam Fintech Summit 2024 (VFS) took place on November 26, 2024, at the Pullman Hotel in Hai Phong. This event, part of the National Creative Startup Day 2024 series, aimed to enhance connectivity and foster the development of Vietnam’s startup ecosystem, particularly in the fintech sector.

Key Takeaways

Vietnam is the second-largest fintech market in ASEAN, with over $19 billion in electronic payment transactions.
The summit featured over 15 leading speakers discussing trends in Open Banking, cashless payments, and AI applications in finance.
The event attracted participation from more than 30 fintech community partners and leading technology organizations.

Overview of The Event

The Vietnam Fintech Summit 2024 was co-organized by the Vietnam Software and IT Services Association (VINASA) and the Fintech Community – Techfest Vietnam. It brought together hundreds of leaders, entrepreneurs, and experts in financial technology from around the globe. Dr. Pham Hong Quat, Director of the Department of Market Development and Science and Technology Enterprises, highlighted the event’s transition from a community gathering to an international conference, emphasizing its role in promoting innovation in Hai Phong and beyond.

Fintech Development Potential in Vietnam

Vietnam’s fintech market has shown remarkable growth, increasing from $0.7 billion in 2016 to $4.5 billion in 2022. The total electronic payment transaction value now exceeds $19 billion, serving over 29 million users. This growth positions Vietnam as a key player in the ASEAN fintech landscape.

Conference Highlights

The summit featured a series of in-depth discussions and panels on various fintech topics, including:

Open Banking Trends: Exploring the future of banking and financial services.
Open API Cooperation: Enhancing collaboration between fintech companies.
Cashless Payment Technologies: Innovations driving the shift towards digital transactions.
AI Applications in Finance: How artificial intelligence is transforming the financial sector.

More than 15 industry leaders from organizations such as Prudential AI Labs, TMA Solutions, and the Indonesia Fintech Association shared their insights and experiences, fostering a collaborative environment for sustainable development in Vietnam’s fintech ecosystem.

Participation of Esteemed Partners

The summit was supported by prestigious organizations, including:

APAC DAO: A leading B2B technology community in the Asia-Pacific region.
Tech Vietnam Advocates: Part of a global network promoting tech innovation.
Various Fintech Associations: Including those from Africa, Indonesia, Cambodia, and the Philippines.

These collaborations helped create a robust platform for knowledge exchange and networking among fintech professionals.

Looking Ahead

The Vietnam Fintech Summit 2024 not only connected local experts but also opened doors for international cooperation in the fintech sector. The organizing committee is already planning for the 2025 event, aiming to further enhance Vietnam’s position as a hub for financial technology in the region. This commitment to growth and innovation underscores the potential of Vietnam’s fintech ecosystem to thrive on a global scale.