The current developmment and solutions to promote the growth of Fintech in Vietnam

Financial technology (Fintech) has become a "hot" keyword in the financial sector. It not onlye improves the access to finance but also lead to innovative applications and new ways of doing business. In particular, 2021 and the first half of 2022 are two breakthrough years of Fintech in Vietnam with the establishment of more than 200 Fintech companies providing almost all financial services. However, regarding the strong development of Fintech, besides its advantages, Fintech in Vietnam faces many challenges and difficulties. This paper analyzes the current developmment of Fintech in Vietnam, and points out the difficulties in applying Fintech in Vietnam. Based on the paper’s findings, some solutions are proposed to promote the growth of Fintech in Vietnam in the coming time.