Unveiling the Excellence: What Drives Viettel Money’s Nomination for “Outstanding Comprehensive Digital Financial Ecosystem”?

According to Decision No. 149/QĐ-TTg by the Prime Minister of Vietnam, which approves the National Comprehensive Financial Strategy until 2025 with a vision to 2030, a key objective is to ensure that all citizens and businesses have access to safe, convenient, and affordable financial products and services tailored to their needs. These services must be provided by licensed institutions in a responsible and sustainable manner.

After five years of implementation, the national comprehensive financial strategy is becoming increasingly tangible. Vietnam’s financial market is entering a pivotal transformation phase, where single-service products are giving way to a holistic digital ecosystem. Banks, fintech companies, insurance providers, e-commerce platforms, consumer services, and transportation sectors are no longer operating in silos. Instead, they are interconnecting to form a seamless network, enabling users to access a wide range of financial and non-financial services with just a single touchpoint.

Viettel Money stands as a prime example of a solution driving this vision forward. Developed by Viettel Digital Services Corporation, Viettel Money is a digital financial application designed to create an inclusive financial ecosystem for all citizens, including those without bank accounts. Unlike many standalone fintech platforms, Viettel Money aims to build a comprehensive digital financial ecosystem, ensuring widespread accessibility.

Aligned with this mission, Viettel Money has launched several practical initiatives. These include a network of over 200,000 cash-in/cash-out points across 11,000 villages and the Mobile Money service, which lays the foundation for nationwide access to digital financial services. Notably, since 2024, Viettel Money has expanded its payment ecosystem to essential services such as electricity, water, internet, education, and public administration. Key highlights include linking social security accounts with VNeID, integrating payments for public service portals like I-Hanoi and Hue-S, and promoting electronic payments in transportation with ePass.

Through strategic partnerships with banks and financial institutions, Viettel Money has emerged as a market leader in transaction volumes for essential sectors such as electricity, water, public administration, and education. Notably, Viettel Money holds the largest market share in rural, remote, and underserved areas.

Beyond universal access, Viettel Money aspires to become a fully integrated financial platform, offering a comprehensive suite of essential services for modern users. The app currently provides over 350 services, ranging from payments and credit to digital insurance, savings, and online investments. All services are seamlessly integrated into a single platform, delivering a cohesive user experience.

Viettel Money’s leadership is reinforced by its diverse and innovative digital financial ecosystem. Since 2023, the platform has been exploring and piloting artificial intelligence (AI) and big data analytics to optimize products, from operations to personalized user experiences. A standout innovation is the AI-driven credit scoring model, which enables real-time credit assessments, reduces loan processing times to under five minutes, expands the eligible borrower base by 1.6 times, and increases loan disbursement contracts by 4.3 times.

With a focus on enhancing user experience, Viettel Money invests in core technologies, integrating AI into operations through automated chatbots, Smart Authen for enhanced security, and reduced manual interventions. These improvements boost service efficiency for its 30 million users. Viettel Money also maintains a 24/7 toll-free hotline and a user-friendly mobile app with features like text enlargement for elderly users.

These advancements have driven the overall Customer Satisfaction Index (CSAT) to 88.8% by the end of 2024, a 11.96% increase from the previous year. Satisfaction with the app interface reached 94.09%, and the Customer Effort Score (CES) stood at 92.24%, significantly surpassing industry averages.

Viettel Money is increasingly pivotal in supporting the government’s National Comprehensive Financial Strategy. Its mission to “Universalize Digital Finance” has opened doors to modern financial services for millions of citizens with limited technological and financial access. This vision not only bridges the digital divide and empowers underserved communities but also serves as a cornerstone for Vietnam’s sustainable digital economic development.

With a team of 100% Vietnamese engineers, Viettel Money embodies the spirit of “Vietnamese Technology – For Vietnamese People,” showcasing Vietnam’s capability in independently developing and operating large-scale digital financial platforms.