International Journal of Research in Finance and Management
2021, Vol. 4, Issue 2
Recommendations contributing to the development of financial technology (Fintech) in Vietnam
Dr. Tran Trong Khue
The COVID-19 pandemic has had a significant impact on all aspects of socio-economic life globally and in Southeast Asia during the past two years, putting pressure on the global economy, which is a threat to human health and welfare and disrupts the functioning of the world economy. However, the pandemic context has promoted technological innovation, creativity, accelerated application of financial and digital technologies to enhance people's access to finance and risk tolerance, people, enterprises. Besides, the trend of non-cash payment will continue to grow more substantially due to changed consumer habits, psychology, and behavior, and the development of innovative Fintech solutions that make payment convenient. In the long term, Fintech can help people and businesses maintain and increase access to financial services even when the blockade order is issued, support businesses to reopen in the new normal. Therefore, the paper's goal had several recommendations to enhance the contribution to developing financial technology (Fintech) in Vietnam.