SBV to issue fintech decree

The State Bank of Vietnam (SBV) is collecting comments on a draft decree for a controlled trial mechanism for fintech (financial technology) activities in the banking sector. The decree will create an incentive mechanism for businesses to provide or cooperate in providing banking and financial solutions under an innovative business model. Credit institutions and fintech companies will be able to test fintech solutions without a legal framework in a controlled environment, with mechanisms in place to prevent risks.