MoMo accelerates digital transformation in the financial industry

This is the information shared at the Vietnam - Asia DX Summit 2023 which recently took place in Hanoi. The forum was organized by the Vietnam Software and Information Technology Services Association (VINASA) under the direction and sponsorship of the Ministry of Information and Communications, in coordination with ministries, branches, and domestic and foreign organizations and associations.

MoMo đẩy mạnh chuyển đổi số trong ngành Tài chính – Ngân hàng - Ảnh 1. — Mr. Nguyen Ba Diep - co-founder of MoMo shared at the event

Responding to the National Digital Data Year, the Vietnam - Asia Digital Transformation Summit 2023 takes the theme "Harnessing digital data and smart connectivity to promote economic growth".

Mr. Nguyen Ba Diep - Co -founder of MoMo, and member of the Standing Committee of VINASA - participated in the discussion on the topic "The role of Fintech in the digital transformation process of the Finance - Banking industry" at the workshop "Building a digital finance - digital banking platform, data infrastructure and connecting economic sectors".

Mr. Nguyen Ba Diep said: "Although many banks have moved towards digitalization, their approach to customers is still old-fashioned. Meanwhile, fintechs like MoMo have models to approach customers every day and understand their needs. MoMo can help banks and financial institutions approach customers in a simple, effective way at the lowest cost. The cooperation between banks and payment intermediaries like MoMo will create the most effective cooperation model."

Mr. Nguyen Ba Diep shared about three outstanding services that MoMo and banks and financial institutions are currently cooperating to deploy with encouraging results. First, MoMo deploys eKYC technology with banks to help customers identify themselves online, simplifying paperwork when opening a bank account.

Second, MoMo acts as an accessible investment platform, connecting customers with many products and services of banks and financial institutions. With services such as Online Savings, Online Gold Shop, Fund Certificates, MoMo helps customers save, buy and sell gold, buy fund certificates anytime, anywhere, online and in real time.

Third, MoMo is a platform for collecting loans and credit cards from 20 large banks and financial companies, supporting 5-7 million customers who need to pay loans and credit cards. The simplicity and convenience of the service not only helps improve customer experience but also helps banks and financial companies save on operating costs.

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