Nation’s fintech industry poised for strong rebound

How do you see fintech companies in Vietnam adapting to emerging technologies like AI?

Vlad Savin, partner at Acclime

Our latest industry report and recent research covering the potential of the digital economy in Vietnam highlighted a growing interest in generative AI among Vietnamese decision-makers.

Many reported either currently utilising or planning to implement AI to enhance customer service – such as personalised chatbots, optimising IT operations through process automation, and supporting environmental, social, and governance data collection and classification, all of these areas at around 45 per cent.

In the fintech sector, this trend is particularly evident. Leading homegrown players like MoMo, VNPay, ZaloPay, Timo, and Cake by VPBank are at the forefront of integrating AI-driven technologies to accelerate digital transformation and expand financial accessibility. Fintech companies in Vietnam are leveraging AI to analyse consumer spending habits and financial needs, enabling personalised recommendations that enhance customer acquisition and engagement.

Additionally, AI-powered tools such as customer data platforms, chatbots, and marketing optimisation systems are reshaping user experiences, fostering competition, and driving innovation in the industry.

Amid a global fintech funding downturn, do you see Vietnamese fintech firms navigate such challenges?

The current economic challenges have placed increased pressure across industries, leading to a slowdown in fintech funding. In response, Vietnamese fintech firms are adapting by prioritising capital efficiency and establishing clear strategies to secure future investments.

We see this challenging period as an opportunity for innovation and growth. The long-term potential of Vietnam’s fintech sector remains strong, driven by its ability to address financial inclusion and digital transformation. For instance, MoMo recently repositioned its brand from a traditional e-wallet to an AI-powered financial assistant, aiming to enhance financial accessibility for underserved populations.

Similarly, companies like MFast are focusing on sustainable expansion by leveraging technology to connect underserved communities with essential financial products and services. These strategic shifts underscore the resilience and adaptability of Vietnam’s fintech landscape amid economic headwinds.

What are the prospects of fintech investment in Vietnam for the rest of this year?

Last year tested the resilience of the financial services sector, as tightening investments and economic uncertainty posed significant challenges. However, 2025 is expected to mark a period of renewed growth, driven by factors such as declining US federal interest rates and increasing adoption of blockchain applications.

Vietnam’s fintech industry is poised for a strong rebound, fuelled by the growing demand for AI in financial services and a more pro-crypto stance under new US direction. Fintech companies are likely to accelerate AI research and integration into their products, enhancing automation, personalisation, and efficiency.

Additionally, Vietnam remains a key player in the crypto space, and if US policies formally recognise Bitcoin as a national asset, it could have positive ripple effects on Vietnam’s digital asset market.

In May 2024, the Vietnamese government marked a significant step in strengthening the legal framework for non-cash payments, including cryptocurrencies. With government support and active participation from technology enterprises, Vietnam has the potential to become a regional hub for blockchain and cryptocurrency innovation.

As investor interest in AI-driven fintech and digital assets continues to rise, 2025 can potentially become a transformative year for the industry.

However, market entry barriers for foreign investors still exist, conditions and restrictions in the fintech space are still quite prevalent under the current regulatory framework, in which the State Bank of Vietnam plays a key role. Vietnamese authorities should carefully assess the market dynamics, evaluate the potential of certain tech growth pillars and reduce the regulatory obstacles to enable growth and create long-term opportunities for investors in the fintech space.

Fintech groups boost tie-up credentials An increasing number of foreign fintech companies are gravitating towards Vietnam, emphasising their enthusiasm through strategic alliances with local partners.

Fintech a solution to financial inclusion Collaboration between banks and fintech companies is crucial for leveraging financial technologies within the existing regulatory framework, ensuring the benefits of innovation are accessible to all citizens and advancing financial inclusion.

Fintech firms pursue digital opportunities Companies and investment funds are looking to unlock new opportunities in Vietnam’s fintech ecosystem to capitalise on the rise of digital innovation.