Vietnam Embedded Finance Business and Investment Opportunities Databook Now Available
The “Vietnam Embedded Finance Business and Investment Opportunities Databook – 75+ KPIs on Embedded Lending, Insurance, Payment, and Wealth Segments – Q2 2024 Update” report is now available on ResearchAndMarkets.com.
Overview of the Embedded Finance Sector
The embedded finance industry in Vietnam is projected to grow at an annual rate of 33.6%, reaching approximately US$426.3 million in 2024. Over the forecast period from 2024 to 2029, this industry is expected to experience a compound annual growth rate (CAGR) of 45.1%, with revenues increasing to US$2.73 billion by 2029.
This comprehensive report provides an in-depth analysis of the embedded finance market, covering segments such as lending, insurance, payments, and wealth management. It includes over 75 key performance indicators (KPIs) to offer insights into market dynamics, size, and forecasts.
Market Growth Drivers
Vietnam’s embedded finance sector is evolving rapidly, fueled by significant digitalization and increased consumer demand for integrated financial services. Recent advancements in payments, lending, and insurance have prompted businesses to embed financial solutions into their digital platforms to enhance user experience.
Ongoing technological innovations and supportive government policies are expected to further accelerate growth, positioning Vietnam as a potential fintech hub in Southeast Asia.
Recent Developments
Product Launches:
- Viettel’s Insurance Exchange Platform: Launched in late 2023, this platform integrates various insurance products into the MyViettel app.
- MoMo’s Enhanced Payment Features: MoMo has introduced features for direct payments and financial services within partner apps.
- Timo’s Banking-as-a-Service (BaaS) Offering: Timo has launched a BaaS solution to help businesses integrate banking services into their applications.
Strategic Partnerships:
- Viettel and Bolttech Collaboration: This partnership expands insurance offerings within the MyViettel app.
- MoMo and FPT Corporation Partnership: This collaboration enhances payment processing for FPT’s services.
- Timo and ZaloPay Partnership: This partnership allows embedded payment solutions within the Zalo messaging app.
Key Mergers:
- Matchmove Acquires Shopmatic: This acquisition aims to integrate Banking-as-a-Service solutions into Shopmatic’s e-commerce platform.
Regulatory Changes
Significant regulatory changes include:
- Law on Credit Institutions 2024: Effective July 1, 2024, this law supports the pilot implementation of fintech solutions and establishes a regulatory framework for innovation.
- Regulatory Sandbox Proposal: A proposal for a regulatory sandbox was submitted to oversee fintech activities, aiming for implementation in 2024.
- Fintech Licensing and Supervision: The State Bank of Vietnam will oversee the licensing and supervision of fintech entities.
These regulatory measures illustrate Vietnam’s commitment to fostering a supportive environment for embedded finance while ensuring consumer protection.
Key Report Attributes:
- Pages: 130
- Forecast Period: 2024 – 2029
- Estimated Market Value (2024): $0.4 Billion
- Forecasted Market Value (2029): $2.7 Billion
- CAGR: 45.1%
- Regions Covered: Vietnam
For more details, visit ResearchAndMarkets.com.
