The central city of Da Nang aims to have at least five FinTech companies with annual revenue exceeding VND1 trillion (over US$39.8 million), with a target of 2-3 FinTech companies per 1,000 residents.

Both foreign and domestic fintech firms are promoting connections with commercial banks to lend unsecured loans to individuals, and small and micro enterprises as demand for consumer and business loans at the end of the year is rising.

A growing number of banks and fintech firms are forming partnership to implement embedded finance in Vietnam.