Continue reading this on our app for a better experience

Open in App
Floating Button
Home News Zest

Credit Bureau Asia to provide analytics and data solutions services in Vietnam with FiinGroup

Amala Balakrishner
Amala Balakrishner • 2 min read
Credit Bureau Asia to provide analytics and data solutions services in Vietnam with FiinGroup
The companies will offer analytics and data solutions to financial institutions, credit granting and payment services agencies etc
Font Resizer
Share to Whatsapp
Share to Facebook
Share to LinkedIn
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Credit and risk information solutions provider Credit Bureau Asia (CBA) has signed a memorandum of understanding (MOU) with FiinGroup JSC on Aug 2.

As part of this, the companies will form a joint venture in Vietnam to provide analytics and data solutions to financial institutions, credit granting agencies, payment services agencies and other data companies.

They will explore opportunities to establish a private credit bureau that supports credit granting to financial and non-financial institutions by end December.

One such goal is to create a full service private credit bureau to have better reach to the 38% of Vietnam’s population who are underbanked or unbanked.

Having monitored the Vietnamese economy for a while, Kevin Koo says that this is an opportune time to enter the “exciting market”.

“There is definite synergy in us establishing a joint venture [with FiinGroup JSC] where CBA will take a substantial shareholding, and where we can leverage on each other’s capabilities to create a strong and significant presence in Vietnam,” adds CBA's founder and executive chairman.

See also: New Key Summary 123

Licensed by Vietnam’s finance ministry, FinnGroup JSC has been operating as a credit rating agency since Mar 20 2020.

It has strategic capital and alliances with the Tokyo-exchange listed Nikkei Inc and QUICK Corp which collectively have a 35.1% stake in the group.

“We see potential opportunities for growth in the analytics and data solutions space and a partnership approach with an experienced industry player with track record and know-how is a good way forward to capture significant market share quickly,” says FiinGroup JSC’s chairman and CEO Nquyen Quang Thuan.

Cover photo: Credit Bureau Asia

Highlights

Re test Testing QA Spotlight
1000th issue

Re test Testing QA Spotlight

×
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
© 2024 The Edge Publishing Pte Ltd. All rights reserved.