Improving the Regulatory Policy for Financial Technology (Fintech) in Vietnam

Abstract

Maintaining financial stability without sacrificing innovation is a concern that countries have paid particular attention to in recent years, especially during the boom of Financial Technology (Fintech). This paper first discusses how the government of Singapore and Vietnam currently govern the Fintech ecosystem. The author then proposes a number of solutions to improve Fintech regulatory policy to fit the Vietnamese context, with the aim of delivering a regulatory approach that supports innovation while maintaining consumer protection and financial stability that permits innovation while protecting users and preserving financial stability.