Vietnam and Australia advance fintech cooperation

With a strategic focus on developing financial technology, expanding cooperation with Australia is expected to be an important driver for modernizing Vietnam’s banking and finance sector and strengthening governance capacity. On 14 April, the Australian Trade and Investment Authority (Austrade) led a delegation of nine fintech and regtech companies to Vietnam as part of Australia’s Landing Pad initiative.

Austrade’s Landing Pad initiative

The Landing Pad program connects Australian fintech, regtech, and related solution providers with Vietnam’s banking and financial institutions to help develop safe, inclusive, and modern financial services aligned with Vietnam’s digital transformation goals. The program runs from 14 to 16 April and is described as a key component of the Memorandum of Understanding on cooperation between Austrade and the Vietnam Bankers Association, signed in June 2025.

At an opening conference in Ho Chi Minh City on 14 April, themed “Strategic Vision of the Financial Center in Ho Chi Minh City and the potential Australia–Vietnam cooperation,” experts discussed directions for the next phase of Vietnam’s banking sector transformation and identified opportunities for international cooperation at the country’s pivotal financial center.

Focus areas for banking transformation

Discussions covered policy overview and the financial ecosystem, along with technology transformation needs for banks and financial institutions. Key topics included:

• Cybersecurity
• Compliance, particularly anti-money laundering and identity verification
• Risk governance
• Payments infrastructure
• Digital assets

Vietnam’s fintech momentum and policy direction

Vietnam is described as an increasingly attractive destination for fintech development, with strong growth in digital payments, rapid diffusion of mobile financial services, and rising interest in artificial intelligence and data-driven banking. The article also cites a young and dynamic population, a stable environment, and positive GDP growth as factors supporting Vietnam’s potential as a regional digital hub.

Government initiatives highlighted include plans to establish two International Financial Centers and to implement sandbox mechanisms for areas such as credit scoring, API data sharing, lending platforms (P2P), and digital assets.

Australia’s fintech and regtech capabilities

Australia’s fintech ecosystem is cited as being among the world’s leaders for quality and innovation, ranked sixth globally and second in the Asia-Pacific region, with nearly 900 fintech companies. The article also notes Australia’s capabilities in regtech, cybersecurity, data governance, payments infrastructure, and digital assets, supported by a financial system with strict governance, high reliability, and advanced infrastructure enabling real-time processing of large-volume transactions.

Ms. Emma McDonald, Senior Trade and Investment Commissioner of the Australian Government in Vietnam and Cambodia, said the fintech and regtech exchange activities aim to promote direct market connections. “We believe these linking activities will create additional commercial ties between Australia and Vietnam, contributing to building a robust, trustworthy financial ecosystem with global connectivity—harmoniously combining Vietnam's characteristics with Australian technology solutions,” she emphasized.

International financial center readiness

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

He cautioned that the center is still in the “institutional activation” stage, focusing on completing the foundation to support sustainable development when the market opens. He added that international investors care not only about Vietnam’s growth rate, but also about infrastructure readiness, the reliability of the legal framework, and the ability to move capital safely and smoothly. He said the center’s objective is to design a compliant and supervisory architecture to foster global capital confidence.

Delegation schedule and expected outcomes

The Australian delegation’s program will run for three days, from 14 to 16 April, starting in Ho Chi Minh City and ending in Hanoi. The article describes the visit as an opportunity for the delegation to gain deeper insights into banks’ digital transformation trends, the regulatory environment, and market opportunities in Vietnam, while showcasing capabilities and seeking cooperation with key partners.