Dung Duong

Three Vietnam private banks crossing 40 billion USD in assets In 2024, MB Bank, Techcombank, and VPbank expectedly surpass the 40 billion USD asset threshold. Conventionally, the territory belongs to Vietnam's state-owned banks. This marks a significant transformation in the sector. In the midst of challenges this year, each bank with its unique strengths will shift their strategies. ——— To read the full article and find out more about Vietnam banks, let’s take a look in Bloomberg Businessweek Vietnam #bbwvn #bloombergbusinessweekvietnam

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I recently had the opportunity to speak at the World Economic Forum event in Ho Chi Minh City, Vietnam at the launch the C4IR (Centre for the 4th Industrial Revolution). This event is a catalyst to accelerate Vietnam's transformation as one of the fastest growing economies in the world. Transformation has become an essential part of progress to accelerate changes, increase adoption of new technologies and create new ways of collaborating to achieve joint success. Sharing my experience of driving large scale transformation, we discussed: (1) The objective function is rightfully changing from pure economic growth to a more sustainable, green low carbon intensity growth for companies and economies and role Financial Institutions can play there. (2) The evolution of the transformation enablers from last decade's digital transformation to a data & AI led approach and its implications on the design and execution of large scale transformations. (3) The talent gap to meet the increasing demand of new and rapidly evolving skills in problem solving, data & AI literacy, new technologies that underpin next wave of industrial growth and the ability to connect the dots in new ways across traditional industrial sectors and knowledge domains. It was a privilege to share my experience and also the role we at Techcombank (TCB) can play to support and accelerate this agenda of rapid green growth in the development of Vietnam's economy in the coming years. Exciting times ahead!!

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Throughout the three days and amidst the blazing sun at Money20/20 Asia in Bangkok, Stripe has talked with and learned from various ecosystem partners and users. We shared about the rise of the internet economy, the three important growth trends (Push for borderless, Rise of Platform Economy, Unlocking enterprise intrapreneurs) and how Stripe's unified, modular platform can help unlock these revenue growth potentials for millions of business around the region. For those who missed the event and want to read more about this, you can find a great summary from Beartai (in Thai) in the link below, or please reach out so we can learn more how we can support your business! https://lnkd.in/gGdbztHB

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Truly appreciate the engagement of all the participants at the Chief Digital & Data Officer Thailand Summit 2024 who attended the session on "The Pace of AI" which I was a panelist. Your engagement shown through the many insightful questions raised during the presentation, and your continued interest with follow-up questions and lively discussions during the breaks, reflects the strong commitment among Thailand’s CXOs to advancing AI. This enthusiasm and dedication to knowledge-sharing underscore the importance of AI for Thailand’s leadership. I look forward to seeing how this collective drive will shape the future of AI in Thailand. #KBTG #CDOTrends

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During our recent Networking Dinner Labuan IBFC China Desk: Business and Cultural Exchange in 🇨🇳🇨🇳🇨🇳, we had the pleasure of learning about the term "Ganbei" (干杯, gānbēi) from our Chinese colleagues. In Chinese, "Ganbei" means "cheers" or "bottoms up," commonly used during toasts to express goodwill and friendship, encouraging everyone to drink together in celebration. As the evening progressed, a Chinese lawyer from Fidelity Law Firm turned to us with a curious question: "How do you say it in Malay?" All of us looked at each other, smiling and slightly puzzled. As Malaysians, we couldn’t say we didn’t have an equivalent. So, with full confidence and a smile 😄, I said, "Selamat." Suddenly, they asked me why. I explained confidently that in Malay, we use the word "Selamat." This versatile word fits many contexts, such as "Selamat Hari Raya" (Happy Eid) or "Selamat Tahun Baru" (Happy New Year). Essentially, "Selamat" means wishing the best for the people in our lives. Thank God, everyone at the Labuan IBFC China Desk team agreed with my logical justification 🤲🤩🤲. By the end of the evening, I had successfully introduced a new term in China: "Selamat." 🙏🤝🤲 So, on the last night of our event, I invited everyone to raise their glasses and say "Selamat" to celebrate our new friendships and shared success. Our journeys in 🇨🇳 this time ended with successful events, collaboration, and business opportunities moving forward. I wish all of you “Selamat!” #NetworkingDinner #CulturalExchange #BusinessOpportunities #BankIslamTrust #Selamat #LabuanIBFC #LabuanIBFCChinaDesk #ChinaBusiness #GlobalConnections #BusinessNetworking #CrossCultural #Friendship #SuccessfulEvent #Collaboration #BusinessGrowth

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READ 📰: Aiming to provide fast investment facilitation and ease of doing business for investors, the Board of Investments (BOI) spearheaded the first Investment Promotion Unit Network (IPU-Net) meeting, together with the Department of Interior and Local Government (DILG) at the DILG-NAPOLCOM Office in Quezon City on June 27. Read more about it here 👉https://lnkd.in/g5AvNmNW #MakeitHappeninthePhilippines #PhilippinesBusiness

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Fintech innovation alert! 🌐💰 SCB – Siam Commercial Bank partners with SCB 10X and Lightnet to launch gamechanging cross-border payments and remittances in Thailand. Find out how this partnership is setting a new fintech standard! #FinTech #FintechInnovation https://loom.ly/RkbzAOU

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“This process has started in Hong Kong, and some virtual banks will grow and strengthen their brand,” says Barbaros Uygun 胡博思of Mox Bank. “These winners will mature into sizeable franchises and become primary banks.” Ugyun is too polite to say it out loud, but he's obviously confident Mox will be such a winner. This profile is from a series of DigFin Group CEO interviews at virtual banks asking them how they intend to become primary banks, that is, the place where customers place the bulk of their deposits. So far the numbers are actually not that good, with deposits falling and deposit sizes plummeting among the eight licensed digital banks in Hong Kong. Mox is the successful outlier in terms of customer numbers but it will still need to translate that into the kind of step changes that boosted the likes of Revolut, Nubank or KakaoBank – in an era when capital has become expensive. Calvin Ng 费轶明 Michael Fei Tat Lee Alex Manson Trust Bank Singapore Priscilla Wat Edwin Hui, CFA Jayant Bhatia Eric Wan https://lnkd.in/gRZCRCmR

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- 🌐 Thailand's virtual banking licenses aim to increase financial access but may reinforce existing bank dominance. - 🤝 Major Thai banks partner with powerful conglomerates, potentially limiting new market entrants. - 🏦 Analysts predict that virtual banks will have limited immediate market disruption due to high capital requirements. - Want full insights? Subscribe to Tech in Asia to read the entire article.

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Check out our latest report on supranationals. Discover how stable macroeconomic conditions and persistent geopolitical risks shape the landscape for 2024. We expect a stable macroeconomic environment with some challenges from geopolitical risks. We anticipate accelerating momentum in MDBs' capital adequacy framework reforms, including the issuance of hybrid instrument (pioneered by the African Development Bank). More here: https://lnkd.in/ehvAfF3V #fitchratings #fitchoncredit #SSA #supranationals

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Stay ahead with the latest fintech developments! Read about the Bank of Thailand's pilot program for programmable payments in an enhanced regulatory sandbox in our latest newsletter here: https://bit.ly/3W0rCbn Dive into the latest fintech news and subscribe for regular updates and insights here: https://lnkd.in/gM7DmdHG #fintech #thailand #newsletter #payments #sandbox

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B2B Cambodia Market Update April 23rd Cambodia Securities Exchange Index down 1.52 points, or .38% to 422.37 marking 6 straight days of losses. During this losing streak the index has dropped 2.8%. Share volume was light at 53,016 shares trading hands with Acleda Bank dominating trading, representing 77% of shares traded and 90% of the value traded. The stock was unchanged in the trading session. Upside Sihanoukville Autonomous Port +40 to 12,240 Downside Phnom Penh Autonomous Port -120 to 12,380 Is ACLEDA Bank Plc. a Buying Opportunity The Stock is trading at 8,300 per share which is 64% of Book Value, which is 12,977 and a Price Earnigs Ratio (P/E) of 5.84 despite strong revenue growth, although earnings were down 20% in 2023. Comparatively, the United States largest bank, J P Morgan is trading at almost a double P/E at 11,44. ACLEDA is looking like a bargain. Khmer Riel to USD was flat on an unchanged USD Dollar Index (DXY). Gold continues to slide, down USD 33 to USD 2,313.30. Oil (Brent Crude), unchanged. Dow Futures pointing to a higher New York open, up 55 points.

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Did you know? Southeast Asia represents a growing gig economy, with delivery services leading the charge. The region's food delivery market is projected to exceed $28 billion by 2025, fueled by urbanization, convenience, and digital adoption. However, gig platforms still face key challenges such as worker retention, incentive optimization, and competition-driven wage fluctuations. At GoNsave, we help gig platforms stay ahead by providing real-time market intelligence on competitor pay rates, and gig worker engagement insights. By leveraging our data, platforms can optimize cost per delivery, personalize perks, and ensure a satisfied and loyal workforce. Curious how we can help your platform? Reach out to us to unlock new efficiencies and boost your competitive edge. Write to us know! #GigEconomy #SoutheastAsia #DataDriven #DeliveryPlatforms #GoNsave #FoodDeliveryMarket #PlatformOptimization

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FYI and this was prepared in 2020 for Myanmar Mobile Wallet Risk Mitigation Risk 1: KYC Theft Description: Sufficient information of the customer data becomes compromised, allowing another person to use the customer's KYC for registration, leading to fraudulent transactions. Impact: Agent – Operational Reputational Bank – Reputational and Fraud Client – Fraud Mitigation: Only allowing each customer to have one account in the system. PIN protection and good processes for PIN resets. Good KYC Process Requirement in Registration and Transaction stage. Risk 2: Impersonation of Provider Status Description: An unauthorized agent performs transactions, charging unauthorized fees or using confidence tricks to gain access to customer's secret information. Impact: Agent – Operational Bank – Reputational and Fraud Client – Fraud Mitigation: Clearly publishing fee structure and ensuring consistent agent branding. Agents should assist service provider in identifying unauthorized agents. Clients should be educated to only trust direct notifications from the Service Provider regarding deposits. Risk 3: Insufficient Service Outlet Points Description: Limited access to payment systems means many destinations need to be recreated for mobile money operation, leading to customer withdrawal. Impact: Agent – Strategic Reputational Operational Bank – Commercial Client – Inconvenience Mitigation: Rollout needs to be managed as a network product. Harmonized rollout of agent, bill pay recipients, merchant payment locations. Rolling out a card with the mobile wallet to enable access to existing payment systems. Risk 4: Lack of Cash or Electronic Float at Agent Outlet Description: Clients may be unable to deposit or withdraw money due to agent's insufficient cash or electronic float. Impact: Agent – Liquidity Reputational Insufficient business volume Bank – Commercial Client – Inconvenience Mitigation: Agents need to be rolled out in conjunction with consumers and managed to avoid shortfalls. Adequate funding of this line of business in terms of cash and electronic float. Ongoing systems monitoring to prevent outages.

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A variety of digital-only banks have emerged over the last decade. These new entities, also referred to as neo banks or challenger banks, offer modern banking propositions tailored to the smartphone and digital world. They were founded in the aftermath of the 2008 global financial crisis with the vision of making banking services more accessible and equitable. These digital banks are setting the benchmark for the future banking market. BPC Banking Technologies' report Digital banking in Asia Pacific, in conjunction with Fincog investigates the digital banking market of Asia Pacific and gives you - Geographic and demographic statistics of a diverse region - Insights into the propositions of successful players - How do these players differentiate themselves The report gives you a complete overview of the Asia-Pacific neo banking market, while discussing some ground-breaking neobanks in the region such as Tonik, Grab, TMRW, and an excellent understanding of the current competitive landscape. Download the report here: https://lnkd.in/dzp3KkV

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🇻🇳 ’s fintech ecosystem presents a dynamic landscape with significant growth potential and unique challenges. As a burgeoning market, Vietnam has seen a rapid increase in fintech startups, particularly in the realms of Digital Payments, InsurTech, WealthTech, and Web 3. We are excited to share da 1st draft for Vietnam FinTech Market Map 2024 (the final version should include GenAI & Climate FinTech startups) Please let us know if we miss out any innovative FinTech names 😄 #fintechvietnam #vietnamstartup #proptechvietnam #vietnamfintech

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