Fundiin Partners with Vietnam National Credit Information Center (CIC) – A Milestone in the BNPL and Fintech Sectors in Vietnam

Fundiin, a leading Buy Now Pay Later (BNPL) provider in Vietnam, has just made a groundbreaking move by signing a strategic partnership with the Vietnam National Credit Information Center (CIC). This partnership signifies a major step forward in the BNPL and fintech sectors in Vietnam, as Fundiin becomes the first BNPL provider in the past five years to establish a partnership with CIC after meeting their rigorous assessments and evaluations.

Under this collaboration, CIC will provide Fundiin with credit information services, including credit scores for individual borrowers. By leveraging reliable data from CIC and their existing technology platform for eKYC and credit scoring algorithms, Fundiin will be able to swiftly and accurately assess customer creditworthiness, enabling effective credit approval decisions. Additionally, Fundiin will share credit information and repayment data of its users with CIC, contributing to the enhancement of the national credit data system.

This strategic partnership aligns with Fundiin’s vision for consumer credit development in Vietnam, focusing on convenience, transparency, safety, and innovation to deliver exceptional benefits to consumers and society. By teaming up with CIC, Fundiin aims to help consumers build their credit scores, improve their access to quality financial services, and promote effective personal financial management. With only 4% of Vietnam’s population currently holding credit cards, Fundiin’s goal is to expand the number of consumers with credit histories in the country, in line with the Government’s national financial inclusion strategy.

Founded in 2019, Fundiin has been a trailblazer in the consumer finance market in Vietnam, offering a free BNPL solution and establishing partnerships with top retailers and brands. By prioritizing technology solutions and data science for risk control instead of a debt collection department, Fundiin has set new standards for convenience, transparency, and safety in the industry.

In December 2023, Fundiin joined the Vietnam Fintech Club (VietFintech) under the Vietnam Banks Association (VNBA), further solidifying its position in the market. With partnerships with over 600 retailers and major brands across the country, Fundiin continues to provide BNPL features to users in all 63 provinces nationwide.

This strategic partnership between Fundiin and CIC marks a significant milestone in the evolution of the BNPL and fintech sectors in Vietnam, paving the way for greater financial inclusion and innovation in the country’s consumer credit landscape.