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Fundiin joins forces with Vietnam’s National Credit Information Center

By Gloria Mathias

June 11, 2024

  • APAC Fintech
  • APAC Fintech news
  • BNPL
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Fundiin, Fintech solutions, Fintech News, Fintech India, Fintech Investement, BNPL, Vietnam, credit scores, Credit Informations, National credit information center, Fundiin has announced the official signing of a partnership with the Vietnam National Credit Information Center (CIC).

This marks a significant advancement in the Buy Now, Pay Later (BNPL) and FinTech sectors in Vietnam. Fundiin, a BNPL provider, establishes a partnership with CIC after passing CIC’s rigorous assessments and evaluations.

According to the cooperation agreement, CIC will provide Fundiin with credit information services, including credit scores for individual borrowers. With reliable data from CIC combined with the existing technology platform for eKYC and credit scoring algorithms, Fundiin can quickly and accurately assess customer creditworthiness, thereby making effective credit approval decisions.

Additionally, Fundiin will periodically provide CIC with credit information and the repayment data of Fundiin users, contributing to CIC’s efforts to update and strengthen the national credit data system.

This strategic collaboration is part of Fundiin’s long-term vision for consumer credit development in Vietnam. This vision includes convenience, transparency, safety, and innovation, delivering exceptional benefits to both consumers and society.

By partnering with CIC, Fundiin will assist consumers in gradually building their credit scores, enhancing their access to quality financial services, and promoting effective personal financial management. Currently, only 4% of Vietnam’s population holds credit cards. Fundiin aims to expand the number of consumers with credit histories in Vietnam, contributing to the Government’s national financial inclusion strategy.

Founded in 2019, Fundiin offers free BNPL solutions to users in Vietnam through a network of partnerships with retailers and brands. After just over 5 years of operation, Fundiin has established new standards in the consumer finance market in Vietnam.

Fundiin focuses on investing in technology solutions and data science as fundamental factors for risk control. This pioneering operational model maximizes the convenient, transparent, and safe experience for Fundiin’s users.

 

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