On October 6, 2015, Standard Chartered Bank Vietnam and Vietnam-based investment firm Dragon Capital jointly hosted the inaugural meeting of the Vietnam FinTech Club, in Ho Chi Minh City.  According to Dragon Capital, the Vietnam FinTech Club is intended to encourage development of Vietnam’s growing FinTech ecosystem.

The roundtable meeting featured 20 start-up entrepreneurs and investors in the FinTech sector, including FPT Ventures, IDG Ventures, M_Service, Fundstart, 1Pay, Pasoto.com, Loanvi.com and MyMoney.vn.

Standard Chartered Bank Vietnam CEO Nirukt Sapru said that “[b]y backing the FinTech industry in Vietnam, we echo the Bank’s strong commitment in supporting and encouraging innovation which we believe is a key driver of economic growth and prosperity.”  Standard Chartered Bank previously launched a FinTech Accelerator Program in Hong Kong to encourage growth in Asian FinTech markets.

Vietnam, with a young, tech savvy population and 23 million smart phones in operation, offers significant opportunities for the development of the FinTech sector.

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