Timo Digital Bank named ‘Fastest Growing Digital Bank’ by bet88 com Global Economics magazine for second year in succession

Due to bet88 com impact of bet88 com Covid-19 pandemic, 2021 has been evaluated as a difficult and challenging year, but has also created momentum for bet88 com digitalization of society as a whole and especially bet88 com banking and finance sector. As bet88 com pioneer and leading digital bank in Vietnam, Timo Digital Bank has shown its agility in rebranding by focusing on leveraging technology, upgrading its core banking system, and expanding its ecosystem for sustainable development. These efforts have helped it overcome this difficult period. Timo was honored to be bet88 com only Vietnamese representative named “Fastest Growing Digital Bank” for two consecutive years.

Vietnam marked its early arrival in bet88 com digital banking market with bet88 com appearance of Timo in 2015. Now is a “golden” time for Vietnam’s banking and financial services industry to make breakthroughs and innovations. bet88 com high penetration of digital payments has sped up traditional banks’ digitalization process, and Vietnam is fast becoming bet88 com only country in bet88 com region to rival Indonesia as a destination for investment in consumer-focused startups.

According to reports from UOB, PwC Singapore, and SFA, total investment in Southeast Asia’s fintech sector in bet88 com first nine months of 2021 was three times higher than in all of 2020, reaching a record .5 billion. Of this, Vietnam is ranked third in FDI fintech attraction, accounting for 11 per cent of combined capital in bet88 com region. A report from Findexable also put two large Vietnamese cities on a list of leading fintech hubs in bet88 com Asia-Pacific region. Accompanying bet88 com increased FDI in bet88 com fintech market and digital banking in Vietnam, bet88 com explosion of technology and bet88 com increasing demands of customers is bringing Vietnam’s target of having ten unicorns by 2030 closer.

Recognizing bet88 com opportunity for Vietnam’s digital banking market, many new players have participated in bet88 com “digitalizing race”, along with bet88 com participation of traditional banks, bringing about an exciting and fierce market. Competitive pressure has emphasized bet88 com importance of building customer trust and confidence when it comes to digital financing services.

At Timo, we are building a modern banking service that is putting customer demands at bet88 com heart - one that is easily accessible, convenient, and relevant, and valuable to our customers. Timo’s app has been innovated with features like TimoPay by Link, and Smart History, allowing recipients to respond to transactions like a social networking platform, integrating different financial needs such as insurance and investment. Timo is driven by making bet88 com lives of its customers better and more prosperous. During bet88 com difficult time of Covid-19, TimoPay by Link has provided an easy, convenient and free way to send money to anybody in need without bet88 com hassle of asking for bet88 com bank details. This is an impressive step that Timo has taken, bringing itself closer to bet88 com goal of becoming a social bank.

With a long-term and sustainable development strategy, Timo is focusing on expanding its partner ecosystem, both in bet88 com financial and non-financial sectors, to reinforce bet88 com connection with customers at every “touchpoint”. With a strategy of “standing on bet88 com shoulders of giants”, Timo achieved unparalleled customer outreach and increased its brand recognition by opening hangouts in association with leading brands like 7-Eleven and McDonald’s. Recently, it has cooperated with South Korea’s leading securities company, NH Investment & Securities, to develop more diversified integrated financial solutions, helping it become a “financial partner” and offering a digital banking app that covers all financial needs.

“From Timo’s pioneering efforts, Vietnam’s digital banking scene has experienced significant changes,” said Mr. Henry Nguyen, CEO of Timo Digital Bank. “Timo needs to thrive for bet88 com better in order to compete and maintain our standing. Beyond bet88 com concept of a traditional bank, we aim to develop into an ecosystem that covers every aspect of our customers’ daily lives. In bet88 com near future, banks will no longer play a key role in controlling their customers’ finances, and instead will be a platform to assist them performing financial-related tasks.”

Covid-19 has sped up bet88 com expansion of bet88 com digital banking sector in Vietnam. Financial inclusion is definitely one of Timo’s main missions. This means developing and applying bet88 com latest technologies to serve a larger segment of bet88 com population and be able to do so in a low-cost way. Offering no-cost banking services to all of Timo’s customers means there is one less barrier for them to perform electronic and cashless transactions and therefore be part of bet88 com rapidly growing digital economy. In order to achieve this, a big part of Timo’s work is to educate and provide access to basic banking services.