VNG Corporation eyes new fintech solution partners at Enterprise Singapore (ESG)’s inaugural Southeast Asian Open Innovation Challenge at the Singapore Week of Innovation and Technology 2020 (SWITCH 2020) from December 7 to 11. — Photo Courtesy ESG

HCM CITY — Top Vietnamese internet company, VNG Corporation, is eyeing new fintech solution partners at Enterprise Singapore (ESG)’s inaugural Southeast Asian Open Innovation Challenge at the Singapore Week of Innovation and Technology 2020 (SWITCH 2020) from December 7 to 11. 

Accordingly, VNG Corporation will be sourcing for innovation partners to co-innovate complementary technologies to support its eKnow Your Customer (eKYC) solution which enables digital banking for banks and financial institutions. 

Vũ Minh Trí, CEO of VNG Cloud and Vice President of VNG Corporation, said: “Like Singapore, Việt Nam is committed to support innovation and has made it easy for local businesses to access technology from overseas, and startup funding, and invest in human capital development.  The relevance of technology has been made clear to business after COVID-19, and there’s a growing interest among corporates and SMEs in Việt Nam to co-innovate new solutions for the growing fintech, retail and manufacturing industries. 

"Singapore’s market-led approach and its role as the technology hub for ASEAN is a potential source for technology and solutions to better service our business partners and consumers. We will continue to seek collaborations with promising technology companies to strengthen our offerings and support our government in growing the fintech industry.”

VNG Corporation’s participation at SWITCH 2020 caps a series of initiatives to deepen innovation partnerships in a two-year Memorandum of Understanding (MoU) that was signed in 2018 between the National Agency for Technology Entrepreneurship and Commercialisation Development (NATEC) under the Việt Nam’s Ministry of Science and Technology (MOST) and ESG. The MOU aimed to facilitate collaborations for startups, ecosystem builders and tertiary institutions between both countries.

NATEC and ESG will renew the MOU for another two years at SWITCH 2020 on December 7.  

The renewal will build on existing collaborations between Việt Nam and Singapore, with an additional focus on leveraging existing open innovation initiatives such as the Singapore Open Innovation Network to crowd source solutions for corporates in Việt Nam. 

Over the past two years, the MOU has strengthened the global innovation communities’ access to Việt Nam’s startup landscape. It has also connected startups from Việt Nam to major technology hubs.

Venture Capital activities have also been strengthened. — VNS