CURRENT SITUATION AND SOLUTIONS TO DEVELOP FINANCIAL TECHNOLOGY IN VIETNAM

Abstract

Financial technology (fintech) is the application of modern information technology inventions in financial service activities. The development of financial technology impacts the development of financial and banking services of commercial banks and has an impact on many socio-economic fields. Therefore, the development of financial technology has great significance in implementing the national digital transformation strategy of the Government in general and the banking and finance sector in particular. In recent years, along with development opportunities, the financial technology market in Vietnam still faces many difficulties and challenges. Based on the assessment of the current situation of financial technology in Vietnam in recent years, from the existing limitations and difficulties, the article proposes some solutions to develop financial technology in Vietnam.