{"id":2313,"date":"2024-03-06T06:07:23","date_gmt":"2024-03-06T06:07:23","guid":{"rendered":"https:\/\/www.begini.co\/?p=2313"},"modified":"2025-10-21T15:37:08","modified_gmt":"2025-10-21T04:37:08","slug":"empowering-financial-inclusion-in-vietnam","status":"publish","type":"post","link":"https:\/\/www.begini.co\/es\/empowering-financial-inclusion-in-vietnam\/","title":{"rendered":"Fomento de la inclusi\u00f3n financiera en Vietnam"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"2313\" class=\"elementor elementor-2313\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-76a0f69 elementor-section-height-min-height elementor-section-boxed elementor-section-height-default elementor-section-items-middle\" data-id=\"76a0f69\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;gradient&quot;,&quot;shape_divider_bottom&quot;:&quot;waves&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t<div class=\"elementor-shape elementor-shape-bottom\" aria-hidden=\"true\" data-negative=\"false\">\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 1000 100\" preserveAspectRatio=\"none\">\n\t<path class=\"elementor-shape-fill\" d=\"M421.9,6.5c22.6-2.5,51.5,0.4,75.5,5.3c23.6,4.9,70.9,23.5,100.5,35.7c75.8,32.2,133.7,44.5,192.6,49.7\n\tc23.6,2.1,48.7,3.5,103.4-2.5c54.7-6,106.2-25.6,106.2-25.6V0H0v30.3c0,0,72,32.6,158.4,30.5c39.2-0.7,92.8-6.7,134-22.4\n\tc21.2-8.1,52.2-18.2,79.7-24.2C399.3,7.9,411.6,7.5,421.9,6.5z\"\/>\n<\/svg>\t\t<\/div>\n\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3192bfa\" data-id=\"3192bfa\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2c4c48d elementor-widget elementor-widget-theme-post-title elementor-page-title elementor-widget-heading\" data-id=\"2c4c48d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"theme-post-title.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Empowering Financial Inclusion in Vietnam<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c2e2fa7 elementor-widget elementor-widget-heading\" data-id=\"c2e2fa7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">The role of next-gen credit models<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-8a4065d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"8a4065d\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1de949c\" data-id=\"1de949c\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-cfa442e elementor-widget elementor-widget-spacer\" data-id=\"cfa442e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2b4f815 elementor-widget elementor-widget-text-editor\" data-id=\"2b4f815\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>In the bustling streets of Hanoi, where vendors hawk their goods and entrepreneurs dream of scaling their businesses, lies a tale of untapped potential. Vietnam, with its vibrant economy and dynamic population, holds promise for growth and prosperity. Yet, for many, accessing financial services remains a challenge, hindered by traditional credit risk models that fail to capture the full spectrum of an individual&#8217;s financial potential. For those pursuing financial inclusion in Vietnam, it is evident that embracing next-gen credit risk models, fortified by alternative data such as open banking and behavioural analytics, is more than just a technological advancement. For millions, fair access to capital means access to opportunity.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e3ac570 elementor-widget elementor-widget-theme-post-featured-image elementor-widget-image\" data-id=\"e3ac570\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"theme-post-featured-image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" data-attachment-id=\"2314\" data-permalink=\"https:\/\/www.begini.co\/es\/empowering-financial-inclusion-in-vietnam\/vietnam\/\" data-orig-file=\"https:\/\/i0.wp.com\/www.begini.co\/wp-content\/uploads\/2024\/03\/Vietnam.jpg?fit=1200%2C800&amp;ssl=1\" data-orig-size=\"1200,800\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Vietnam\" data-image-description=\"&lt;p&gt;Busy street in vietnam&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Busy street in vietnam&lt;\/p&gt;\n\" data-large-file=\"https:\/\/i0.wp.com\/www.begini.co\/wp-content\/uploads\/2024\/03\/Vietnam.jpg?fit=800%2C534&amp;ssl=1\" width=\"800\" height=\"534\" src=\"https:\/\/i0.wp.com\/www.begini.co\/wp-content\/uploads\/2024\/03\/Vietnam.jpg?fit=800%2C534&amp;ssl=1\" class=\"attachment-large size-large wp-image-2314\" alt=\"\" srcset=\"https:\/\/i0.wp.com\/www.begini.co\/wp-content\/uploads\/2024\/03\/Vietnam.jpg?w=1200&amp;ssl=1 1200w, https:\/\/i0.wp.com\/www.begini.co\/wp-content\/uploads\/2024\/03\/Vietnam.jpg?resize=300%2C200&amp;ssl=1 300w, https:\/\/i0.wp.com\/www.begini.co\/wp-content\/uploads\/2024\/03\/Vietnam.jpg?resize=1024%2C683&amp;ssl=1 1024w, https:\/\/i0.wp.com\/www.begini.co\/wp-content\/uploads\/2024\/03\/Vietnam.jpg?resize=768%2C512&amp;ssl=1 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" data-attachment-id=\"2314\" data-permalink=\"https:\/\/www.begini.co\/es\/empowering-financial-inclusion-in-vietnam\/vietnam\/\" data-orig-file=\"https:\/\/i0.wp.com\/www.begini.co\/wp-content\/uploads\/2024\/03\/Vietnam.jpg?fit=1200%2C800&amp;ssl=1\" data-orig-size=\"1200,800\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Vietnam\" data-image-description=\"&lt;p&gt;Busy street in vietnam&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Busy street in vietnam&lt;\/p&gt;\n\" data-large-file=\"https:\/\/i0.wp.com\/www.begini.co\/wp-content\/uploads\/2024\/03\/Vietnam.jpg?fit=800%2C534&amp;ssl=1\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6940419 elementor-widget elementor-widget-spacer\" data-id=\"6940419\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9339e2a elementor-widget elementor-widget-text-editor\" data-id=\"9339e2a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-size: 1rem;\">According to the World Bank, only 56% of Vietnamese adults have a formal bank account, significantly lower than SE Asia average of 81%<\/span><a style=\"background-color: #ffffff; font-size: 1rem;\" href=\"#_edn1\" name=\"_ednref1\">[i]<\/a><span style=\"font-size: 1rem;\">. This disparity underscores the urgent need to bridge the gap and extend financial services to underserved segments of society. One of the major hurdles lies in conventional credit assessment methods, which rely heavily on historical financial data and often overlook individuals with limited credit histories or unconventional income sources.<\/span><\/p><p>Fair access to capital is not just a matter of economic empowerment; it is a catalyst for inclusive growth and societal progress. Small and medium-sized enterprises (SMEs), which form the backbone of Vietnam&#8217;s economy, account for 88 to 99% of all enterprises as well as 70% of employment<a href=\"#_edn2\" name=\"_ednref2\">[ii]<\/a>. However, despite their significant role, many SMEs struggle to secure financing from traditional lenders due to insufficient collateral or inadequate credit profiles. Unlocking the potential of these enterprises through tailored financial solutions is paramount for driving sustainable development and job creation.<\/p><p>This is where next-gen credit risk models emerge as a game-changer. By leveraging alternative data sources such as open banking, and behavioural analytics, which analyse non-traditional indicators like character assessment and device metadata, these models offer a more holistic view of an individual&#8217;s creditworthiness. For instance, a small business owner who lacks formal credit history but demonstrates consistent revenue streams through digital transactions can now be accurately assessed for credit.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5646bd5 elementor-widget elementor-widget-text-editor\" data-id=\"5646bd5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h6>The implications are profound. By expanding the scope of credit assessment beyond traditional metrics, lenders can tap into a vast pool of creditworthy individuals and businesses that were previously overlooked. This not only reduces the risk for lenders but also empowers borrowers with the financial resources needed to pursue their aspirations. Imagine a young entrepreneur in Ho Chi Minh City, armed with a viable business plan and a track record of online sales, securing the funding needed to expand operations and create employment opportunities in their community.<\/h6>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-27eacd0 elementor-widget elementor-widget-text-editor\" data-id=\"27eacd0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The Vietnamese Government have stated that digital transformation and boosting fintech investment in the country is a strategic priority for broadening financial services access for consumers and small and medium-sized enterprises (SMEs). In 2023 the Government announced a Technical Assistance programme to foster the development of financial technologies. One of their stated goals is to identify solutions, including alternative credit scoring methods and the introduction of digital lending, to address challenges.<\/p><p>FinTech\u2019s such as Begini, create and collect alternative data to offer modern inclusive credit scores and insights which can assess 100% of applicants, regardless of financial background. By creating and analysing data around behavioural traits associated with credit risk, it is possible make credit decisions fairer, more accessible, and more predictive through opt-in, first-party behavioural data, using no personal data.<\/p><p>For example, using alternative data to facilitate rescue scores can help lenders lend to an additional 5 \u2013 10% of customers that would otherwise be rejected, without increasing risk. As more data is collected, this number can be increased to up to 20% over time with a trained scorecard model.<\/p><p>However, embracing next-gen credit risk models is not without its challenges. Privacy concerns, data security, and regulatory frameworks must be carefully navigated to ensure the ethical and responsible use of alternative data. Moreover, there is a need for continuous innovation and collaboration between financial institutions, fintech providers, and policymakers to build an ecosystem that fosters financial inclusion while safeguarding consumer rights.<\/p><p>In conclusion, the journey towards financial inclusion in Vietnam requires a paradigm shift in credit risk assessment, one that embraces innovation and inclusivity. Next-gen credit risk models offer a transformative opportunity to extend the reach of financial services to those who need it most, unlocking the full potential of Vietnam&#8217;s burgeoning economy.<\/p><p><a href=\"https:\/\/www.begini.co\/?p=2313&amp;elementor-preview=2313&amp;ver=1709779477#_ednref1\" name=\"_edn1\">[i]<\/a>\u00a0https:\/\/www.findevgateway.org\/country\/financial-inclusion-vietnam<\/p><p><a href=\"https:\/\/www.begini.co\/?p=2313&amp;elementor-preview=2313&amp;ver=1709779477#_ednref2\" name=\"_edn2\">[ii]<\/a>\u00a0https:\/\/aseanbriefing.com\/news\/vietnam-bolsters-regional-financial-links-through-connectivity-payment-initiative\/<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b8e724a elementor-widget elementor-widget-spacer\" data-id=\"b8e724a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-be8524f elementor-widget elementor-widget-spacer\" data-id=\"be8524f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9a65f30 elementor-post-navigation-borders-yes elementor-widget elementor-widget-post-navigation\" data-id=\"9a65f30\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"post-navigation.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-post-navigation\" role=\"navigation\" aria-label=\"Navegaci\u00f3n de la entrada\">\n\t\t\t<div class=\"elementor-post-navigation__prev elementor-post-navigation__link\">\n\t\t\t\t<a href=\"https:\/\/www.begini.co\/es\/9-trends-shaping-credit-assessment-this-year\/\" rel=\"prev\"><span class=\"post-navigation__arrow-wrapper post-navigation__arrow-prev\"><i aria-hidden=\"true\" class=\"fas fa-angle-left\"><\/i><span class=\"elementor-screen-only\">Ant<\/span><\/span><span class=\"elementor-post-navigation__link__prev\"><span class=\"post-navigation__prev--label\">Previous<\/span><span class=\"post-navigation__prev--title\">9 trends shaping credit assessment this year<\/span><\/span><\/a>\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-post-navigation__separator-wrapper\">\n\t\t\t\t\t<div class=\"elementor-post-navigation__separator\"><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"elementor-post-navigation__next elementor-post-navigation__link\">\n\t\t\t\t<a href=\"https:\/\/www.begini.co\/es\/begini-mifos-webinar\/\" rel=\"next\"><span class=\"elementor-post-navigation__link__next\"><span class=\"post-navigation__next--label\">Next<\/span><span class=\"post-navigation__next--title\">Begini &#038; Mifos Webinar<\/span><\/span><span class=\"post-navigation__arrow-wrapper post-navigation__arrow-next\"><i aria-hidden=\"true\" class=\"fas fa-angle-right\"><\/i><span class=\"elementor-screen-only\">Siguiente<\/span><\/span><\/a>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-91563c4 elementor-widget elementor-widget-spacer\" data-id=\"91563c4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The role of next-gen credit models In the bustling streets of Hanoi, where vendors hawk their goods and entrepreneurs dream of scaling their businesses, lies a tale of untapped potential. Vietnam, with its vibrant economy and dynamic population, holds promise for growth and prosperity. Yet, for many, accessing financial services remains a challenge, hindered by [&hellip;]<\/p>\n","protected":false},"author":209526199,"featured_media":2314,"comment_status":"open","ping_status":"open","sticky":false,"template":"elementor_header_footer","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","content-type":"","footnotes":""},"categories":[1364,1365],"tags":[],"class_list":["post-2313","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-alternative-data","category-financial-inclusion"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Empowering Financial Inclusion in Vietnam - Begini<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.begini.co\/es\/empowering-financial-inclusion-in-vietnam\/\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Empowering Financial Inclusion in Vietnam - Begini\" \/>\n<meta property=\"og:description\" content=\"The role of next-gen credit models In the bustling streets of Hanoi, where vendors hawk their goods and entrepreneurs dream of scaling their businesses, lies a tale of untapped potential. 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