Fundiin, Vietnam’s leading Buy Now, Pay Later (BNPL) platform, has announced a strategic partnership with Visa to elevate its credit-scoring model to global standards.
The partnership’s aim is to enhance Fundiin’s risk management capabilities, reduce costs, and expand credit opportunities for Vietnamese consumers, especially the unbanked and underbanked. Furthermore, it lays a foundation for Fundiin to explore further collaboration opportunities in the future.
Although Vietnam’s digital finance market has seen rapid growth over the last few years, many consumers still struggle to access secure and high-quality financial services due to ineffective risk assessment systems.
This partnership with Visa marks a pivotal step in strengthening Fundiin’s risk management framework by integrating advanced technology and adhering to global best practices.
By leveraging Visa’s expertise in developing best-in-class solutions for credit scoring and combining it with Fundiin’s specialised data-management technologies tailored to Vietnam, Fundiin believes the accuracy, comprehensiveness, and reliability of its credit scores will be significantly improved.
As a result, Fundiin will be able to improve processing time, increase approval rates, and lower bad debt ratios.
For consumers, this partnership unlocks significant benefits, particularly for individuals with limited or no credit history who often face challenges accessing traditional financial institutions.
With enhanced risk assessment models, Fundiin can help build credit profiles for these individuals, paving the way for larger financial transactions- such as home purchases-at lower costs in the future.
“Partnering with Visa is a strategic milestone that underscores our long-term commitment to innovation and technological advancement. By integrating cutting-edge risk management solutions, we aim to address a fundamental consumer need, access to secure and transparent credit products at optimal cost,” said Nguyen Anh Cuong, CEO of Fundiin,
Meanwhile, Dang Tuyet Dung, Visa’s Country Manager for Vietnam and Laos, said, “Visa is dedicated to working alongside fintech partners to foster the development of a modern, secure, and sustainable financial ecosystem. This partnership with Fundiin is more than just a single undertaking - it is a strategic, long-term initiative designed to strengthen risk management, refine credit-scoring models, and introduce financial products that better meet market demands.”
Dung added that for consumers, the enhancement of credit-scoring systems not only ensures a more transparent and accurate approval process but also expands access to flexible, convenient, and tailored financial solutions that align with individual financial capabilities.
Founded in 2019, Fundiin was an early entrant into Vietnam’s BNPL sector, offering a fully automated and online payment solution. The company provides a seamless and stress-free payment experience for consumers while connecting over 800 retail partners to leading brands.
What sets Fundiin apart is its consumer-first approach- eliminating harsh debt collection practices and removing compound interest mechanisms. This ensures an elevated customer experience while reinforcing the company’s commitment to providing responsible and quality financial solutions.