Australia and Vietnam advance fintech cooperation to build a modern, globally connected financial ecosystem

In the context of Vietnam accelerating digital transformation in banking and building the International Financial Center (VIFC), collaboration with Australia in fintech and regtech is expected to create substantial opportunities and help form a modern, globally connected financial ecosystem. The view was shared by experts at the Strategic Vision Conference for the International Financial Center in Ho Chi Minh City and the Australia–Vietnam cooperation prospects, held on 14/04 by the Australian Trade and Investment Commission (Austrade) in coordination with the Vietnam International Financial Center Authority (VIFC – HCMC).

Ms. Emma McDonald, Senior Trade and Investment Commissioner for the Australian Government to Vietnam and Cambodia, said the networking and connection program in fintech and compliance between Australia and Vietnam aims to boost direct market connections. She added that these activities are expected to create more trade relationships between Australia and Vietnam, supporting the development of a robust, credible, and globally connected financial ecosystem by aligning Vietnam’s strengths with Australia’s technology solutions.

Fintech and regtech cooperation: expected opportunities

Vietnam is described as an increasingly attractive destination for fintech development, driven by rapid growth in digital payments, widespread adoption of mobile financial services, and rising interest in artificial intelligence and data-based banking. Support from a young and dynamic population, a stable environment, and positive GDP growth is also cited as strengthening Vietnam’s position as a potential digital hub in the region.

Government initiatives are highlighted as key enablers, including the establishment of two International Financial Centers and the implementation of sandbox mechanisms for credit scoring, open data sharing via APIs, peer-to-peer lending, and digital assets. To maximize these advantages and support the goal of becoming an international financial center in the region, the conference emphasized the importance of cooperation, innovation, and strategic preparation.

Australia’s capabilities and positioning

Australia’s fintech ecosystem is presented as a major complement to Vietnam’s development path. It is described as globally leading in quality and innovation, ranked sixth in the world and second in the APAC region, with nearly 900 fintech companies. The conference also pointed to Australia’s capabilities in regtech, cybersecurity, data governance, payments infrastructure, and digital assets.

These capabilities are said to be supported by a highly regulated and credible financial system and modern infrastructure enabling real-time processing at scale.

VIFC’s operating model and investor priorities

Mr. Rich McClellan, CEO of the Vietnam International Financial Center in Ho Chi Minh City, said Vietnam has moved from a policy resolution to an operating model in under 18 months, with a legal framework, governance structure, dedicated courts, and an arbitration center already designed.

He noted that international investors consider not only growth rates, but also infrastructure readiness, the reliability of the legal framework, and the ability to move capital safely and smoothly. In that context, VIFC’s objective is described as extending beyond building a trading platform to designing a compliance and supervision architecture intended to build global capital confidence.

Infrastructure focus: legal and technology pillars

Further details on VIFC’s infrastructure were provided by Mr. Pham Tuan Anh, Head of Technology at the VIFC Operator. He said the center is positioned as an “international capital transfer hub,” aiming to attract large-scale investments in infrastructure such as metro lines and high-speed rail.

To support this direction, VIFC is said to focus on two pillars—legal and technology—highlighting an “Offshore within Onshore” model as a key differentiator. The model is intended to create an international investment environment within Vietnam through interlinked payment networks with global systems such as SWIFT, alongside a Zero Trust security architecture.

Technology infrastructure pillars and architecture

VIFC is also developing six technology infrastructure pillars, including application infrastructure, real-time data, regtech-suptech systems, centralized clearing, internationally compliant data centers, and a roadmap for asset digitization based on blockchain.

The overall system is described as operating under a three-layer architecture: physical infrastructure, a core technology platform, and an AI-enabled governance and operations layer.