Fundiin signs deal with CIMB Bank Vietnam

The deal was announced on February 28 and is set to offer more consumers, particularly those left out of the traditional financial ecosystem, access to flexible and sustainable credit options.

The new offering harnesses cutting-edge data science to improve credit accessibility. By analysing credit records and transaction data, Fundiin ensures accurate lender matching, optimising both approval rates and loan interest to suit individual customer profiles.

Both Fundiin and CIMB Bank boast that this partnership represents a step towards transforming Vietnam's financial ecosystem, democratising credit, and providing a seamless, more affordable way for consumers to access financial services that were once unattainable.

Nguyen Anh Cuong, Fundiin CEO, said, "This partnership aligns with our strategy to offer high-standard digital financial products to a broader consumer base. The combination of Fundiin's technology platform and data science with CIMB's strong financial foundation will further help drive financial inclusion in Vietnam."

Offering her perspective, Le Hien Trang, from CIMB Vietnam, said, "CIMB Vietnam is committed to offering adaptable and transparent credit solutions. This collaboration allows us to extend financial opportunities to underserved communities, empowering consumers through technology-driven solutions that make credit more accessible. Together, we're paving the way for a future where financial inclusion isn't a privilege but a standard."

BNPL transactions are set to continue their rapid growth across Southeast Asia, with the region's young and tech-savvy population, reaching $53.2 billion by 2027.

Vietnam, Thailand, and Singapore are forecast for further growth than other nearby markets, but at a steady pace. BNPL is still an emerging trend here, with the market expected to reach $5.9 billion, supported by a growing cashless payment ecosystem. Thailand’s BNPL growth is expected to be worth $8.2 billion by 2027.

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