Mar 14, 2018
eID Named Finalist in Fintech Challenge Vietnam
What exactly was the challenge?
eID will have the chance to present its VideoID at the Fintech Challenge Vietnam whose mission is to incentivize the adoption of the latest financial technology and encourage collaboration among banks and FinTechs to promote financial inclusion in Viet Nam.
Five priority verticals were identified. The State Bank of Vietnam has identified them as critical areas for development.
- E-KYC E-Identity
- Open APIs
- Peer-to-Peer (P2P) lending
How were the finalists picked for Fintech Challenge Vietnam?
After putting in our proposal with 140 others from a total of 27 different countries, the panel made up of representatives from the organizers (MBI and the State Bank of Vietnam) and their partners (BIDV, Shinhan Bank, TPBank, VIB, Vietcombank, VietinBank, and VP Bank), as well as Vietnam Silicon Valley and VISA, analyzed them for this first FinTech Challenge Vietnam.
The panel had four essential criteria for the solutions: impact (20%), relevance (20%), management capacity (20%), and scalability and investment possibility (30%).
They agreed that 16 of the 141 would be finalists and 14 semi-finalists.
What are the benefits of being a finalist?
The most obvious is that the possibility of showcasing our tech before such an elite audience and in a country like Vietnam is a fantastic opportunity.
But before getting there, all the finalists will have access to a mentorship designed specifically by financial experts to help with the business plan and development of the solution in later steps and networking with possible customers or partners and the regulator.
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When is the event?
It will be in Hanoi, Vietnam, on May 29 and 30, on Vietnam’s National FinTech Day 2018.