Finance
Vietnam Embedded Finance Markets Report 2022: Market to Reach $2,188.4 Million by 2029 from $336.4 Million in 2022
DUBLIN, Sept. 14, 2022 /PRNewswire/ — The “Vietnam Embedded Finance Enterprise and Funding Alternatives Databook – 50+ KPIs on Embedded Lending, Insurance coverage, Cost, and Wealth Segments – Q1 2022 Replace” report has been added to ResearchAndMarkets.com’s providing.
Vietnam’s Embedded Finance business is predicted to develop by 66.3% on annual foundation to succeed in US$336.4 million in 2022.
The embedded finance business is predicted to develop steadily over the forecast interval, recording a CAGR of 40.5% throughout 2022-2029. The embedded finance revenues within the nation will enhance from US$336.4 million in 2022 to succeed in US$2,188.4 million by 2029.
Development in know-how adoption within the nation’s insurance coverage sector supported the embedded insurance coverage market. Market gamers are pioneering AI applied sciences and digitization for gross sales and distribution actions and strategizing to grab the alternatives prevailing within the business.
The federal government of Vietnam has established a program with a imaginative and prescient to rework Vietnam right into a digital nation. This system contains the plans and goals to be achieved by the 12 months 2025. The Vietnam authorities’s growth efforts for the nation’s digital transformation are anticipated to gasoline the embedded insurance coverage market within the forthcoming years.
Insurtechs are elevating funds to develop their product portfolio within the Vietnamese embedded insurance coverage business. In 2020, Papaya Insurtech, a Vietnam-based insurtech firm, raised pre-seed cash and is now wanting ahead to elevating US$1 million.
The corporate is planning to take a position funding into automation and digitization applied sciences. As per the writer’s evaluation, the expansion in funding actions by insurtech gamers in Vietnam is predicted to rope in technological developments within the sector, consequently supporting the event of the embedded insurance coverage market.
Like different embedded finance choices, embedded lending is comparatively new in Vietnam. The unregulated market can be permitting market gamers to enter the market with out issue. The younger and digital-savvy inhabitants, low charges of formal monetary inclusion, and robust smartphone and Web penetration have made the nation some extent of consideration amongst international fintech gamers
In September 2021, Indonesia-based purchase now, pay later (BNPL) start-up Kredivo entered right into a partnership with Vietnam-based household funding workplace Phoenix Holdings. Kredivio is planning to capitalize on Phoenix Holding’s current shopper base and develop its foothold within the Vietnamese embedded lending market.
Moreover, typical monetary establishments are additionally launching BNPL lending choices to offer a seamless buyer expertise to clients.
In October 2021, Vietnam-based Lotte Finance launched the BNPL service to enhance the web shopping for expertise of Vietnamese clients.
Like different embedded finance choices, embedded fee is comparatively new in Vietnam. Nonetheless, the unregulated market additionally permits new entrants to enter the market with out issue, ensuing within the rising consideration of embedded fee suppliers in direction of the nation.
This report offers an in depth information centric evaluation of market alternative throughout 50+ segments in embedded finance business overlaying lending, insurance coverage, fee, and wealth sectors.
Scope
Vietnam Embedded Finance Market Dimension and Forecast
Vietnam Embedded Lending Market Dimension and Forecast
Embedded Lending by Shopper Segments, 2020 – 2029
- Enterprise Lending
- Retail Lending
Embedded Lending by B2B Sectors, 2020 – 2029
- Embedded Lending in Retail & Shopper Items
- Embedded Lending in IT & Software program Companies
- Embedded Lending in Media, Leisure & Leisure
- Embedded Lending in Manufacturing & Distribution
- Embedded Lending in Actual Property
- Embedded Lending in Different
Embedded Lending by B2C Sectors, 2020 – 2029
- Embedded Lending in Retail Buying
- Embedded Lending in Dwelling Enchancment
- Embedded Lending in Leisure & Leisure
- Embedded Lending in Healthcare and Wellness
- Embedded Lending in Different
Vietnam Embedded Insurance coverage Market Dimension and Forecast
Embedded Insurance coverage by Business, 2020 – 2029
- Embedded Insurance coverage in Shopper Merchandise
- Embedded Insurance coverage in Journey & Hospitality
- Embedded Insurance coverage in Automotive
- Embedded Insurance coverage in Healthcare
- Embedded Insurance coverage in Actual Property
- Embedded Insurance coverage in Transport & Logistics
- Embedded Insurance coverage in Others
Embedded Insurance coverage by Insurance coverage Kind, 2020 – 2029
- Embedded Insurance coverage in Life Section
- Embedded Insurance coverage in Non-Life Section
Embedded Insurance coverage by Kind of Providing, 2020 – 2029
- Embedded Insurance coverage in Product Section
- Embedded Insurance coverage in Service Section
Vietnam Embedded Cost Market Dimension and Forecast
Embedded Cost by Shopper Segments, 2020 – 2029
Embedded Cost by Finish-Use Sector, 2020 – 2029
- Embedded Cost in Retail & Shopper Items
- Embedded Cost in Digital Merchandise & Companies
- Embedded Cost in Utility Invoice Cost
- Embedded Cost in Journey & Hospitality
- Embedded Cost in Leisure & Leisure
- Embedded Cost in Well being & Wellness
- Embedded Cost in Workplace Provides & Gear
- Embedded Cost in Different
Vietnam Embedded Wealth Administration Market Dimension and Forecast
For extra details about this report go to https://www.researchandmarkets.com/r/6rmo1
Media Contact:
Analysis and Markets
Laura Wooden, Senior Supervisor
[email protected]
For E.S.T Workplace Hours Name +1-917-300-0470
For U.S./CAN Toll Free Name +1-800-526-8630
For GMT Workplace Hours Name +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outdoors U.S.): +353-1-481-1716
Emblem: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
SOURCE Analysis and Markets
Hatem Amer, Managing Director of Al-Ahly Mortgage Finance, a subsidiary of the National Bank of Egypt (NBE), announced that the company aims to achieve exceptional growth in its financing portfolio, targeting a total of EGP 4bn by the end of 2024.
According to Amer, the company successfully issued over EGP 2bn in new mortgage finance in 2024. This was achieved through a variety of Programmes designed to finance residential, administrative, and commercial units, catering to the diverse needs of mortgage finance customers in Egypt.
He explained that these specialized Programmes were key to attracting new customer segments, including Egyptians working abroad, residents in Egypt with foreign income sources, and regional and multinational companies seeking to acquire administrative properties. These successes were driven by thorough studies of the real estate market and its evolving demands.
Al-Ahly Mortgage Finance was also recognized with the “Most Innovative Company in Egypt for 2024” award by International Business Magazine, a prestigious institution specializing in market analysis and financial sector evaluations.
Amer emphasized that this award is a reflection of the company’s leadership and position in Egypt’s mortgage finance sector, as well as its dedication to providing the best possible experience for its customers.
He further highlighted that the company achieved these results despite significant challenges in the Egyptian market, including ongoing fluctuations in exchange rates, high inflation, and rising real estate prices across various sectors. The company’s resilience, he said, was key to its success, enabling it to launch innovative solutions that addressed these challenges, with full support from NBE, the largest Egyptian bank.
The Federal Reserve cut its target rate three times in late 2024, which means savings interest rates are falling. So it’s important to be sure you’re getting the best rate possible when shopping around for a savings account. The following is a breakdown of savings interest rates today and where to find the best offers.
The national average savings account rate stands at 0.42%, according to the FDIC. This might not seem like much, but consider that three years ago, it was just 0.06%.
Although the national average savings interest rate is fairly low compared to other types of accounts (such as CDs) and investments, the best savings rates on the market today are much higher. In fact, some of the top accounts are currently offering 4% APY and higher.
Today, the highest savings account rate available from our partners today is 4.30% APY. This rate is offered by BMO Alto and there is no minimum opening deposit required.
Here is a look at some of the best savings rates available today from our verified partners:
This embedded content is not available in your region.
Related: 10 best high-yield savings accounts today>>
The amount of interest you can earn from a savings account depends on the annual percentage rate (APY). This is a measure of your total earnings after one year when considering the base interest rate and how often interest compounds (savings account interest typically compounds daily).
Say you put $1,000 in a savings account at the average interest rate of 0.42% with daily compounding. At the end of one year, your balance would grow to $1,004.21 — your initial $1,000 deposit, plus just $4.21 in interest.
Now let’s say you choose a high-yield savings account that offers 4% APY instead. In this case, your balance would grow to $1,040.81 over the same period, which includes $40.81 in interest.
The more you deposit in a savings account, the more you stand to earn. If we took our same example of a high-yield savings account at 4% APY, but deposit $10,000, your total balance after one year would be $10,408.08, meaning you’d earn $408.08 in interest.
Read more: What is a good savings account rate?
This embedded content is not available in your region.
Senior members of Canada’s cabinet held talks Friday with US President-elect Donald Trump’s nominees to lead the departments of commerce and the interior, as Ottawa works to hold off the threat of punishing tariffs.
Canada’s newly-appointed Finance Minister Dominic Leblanc and Foreign Minister Melanie Joly met with Howard Lutnick, Trump’s commerce secretary nominee, who will also lead the country’s tariff and trade agenda.
Interior secretary nominee Doug Burgum was also at the meeting held at Trump’s Mar-a-Lago estate in Florida.
Leblanc’s spokesman Jean-Sebastien Comeau, who confirmed the participants, described the talks as “positive and productive.”
Trump has vowed to impose crippling 25-percent tariffs on all Canadian imports when he takes office next month.
He has said they will remain in place until Canada addresses the flow of undocumented migrants and the drug fentanyl into the United States.
Canadian Prime Minister Justin Trudeau has promised retaliatory measures should Trump follow through on his pledge, raising fears of a trade war.
Leblanc and Joly “outlined the measures in Canada’s Border Plan and reiterated the shared commitment to strengthen border security as well as combat the harm caused by fentanyl to save Canadian and American lives,” Comeau said in a statement.
Canada’s Border Plan — estimated to cost CAN$1 billion ($694 million) — was crafted as part of Ottawa’s response to Trump’s concerns.
Lutnick and Burgum “agreed to relay information to President Trump,” the statement said.
Trudeau is facing his worst political crisis since sweeping into office in 2015.
Leblanc was named finance minister earlier this month after the surprise resignation of Chrystia Freeland.
In a scathing resignation letter, Freeland accused Trudeau of prioritizing handouts to voters instead of preparing Canada’s finances for a possible trade war.
More than 75 percent of Canadian exports go to the United States and nearly two million Canadian jobs depend on trade.
bs/aha
Deion Sanders went from NFL star to successful college coach. Did his teammates see it coming?
‘Sell the team!’: Bears fans vent their anger in home finale of calamitous season
New year, new pygmy hippo: A naming poll for this Virginia zoo baby is underway
/cdn.vox-cdn.com/uploads/chorus_asset/file/24982514/Quest_3_dock.jpg "Meta’s ‘software update issue’ has been breaking Quest headsets for weeks")
Meta’s ‘software update issue’ has been breaking Quest headsets for weeks
Plane veers off airport runway in South Korea and crashes, killing at least 23: report
Colorado Rockies game no. 116 thread: Zac Gallen vs José Ureña
Why Marjorie Taylor Greene was ‘kicked out’ of the Freedom Caucus according to Rep. Buck
See it: Tesla crashes into Columbus convention center at 70 mph
Fox News Politics: Georgia the whole day through
Death of missing Oregon girl found in stream ruled homicide
State attorneys general ask SCOTUS to uphold TikTok divest-or-ban law amid Trump request to pause ban
Plane veers off runway and crashes in S Korea, killing at least 29: Report
Houston hit by multiple tornadoes, leaving one dead
Race to succeed Rep. Elise Stefanik in upstate New York heats up with new challenger
US expected to announce $1.25bln military aid package for Ukraine
-
/cdn.vox-cdn.com/uploads/chorus_asset/file/24924653/236780_Google_AntiTrust_Trial_Custom_Art_CVirginia__0003_1.png "Google’s counteroffer to the government trying to break it up is unbundling Android apps")
Technology1 week agoGoogle’s counteroffer to the government trying to break it up is unbundling Android apps
-
News1 week agoNovo Nordisk shares tumble as weight-loss drug trial data disappoints
-
Politics1 week agoIllegal immigrant sexually abused child in the U.S. after being removed from the country five times
-
Entertainment1 week ago'It's a little holiday gift': Inside the Weeknd's free Santa Monica show for his biggest fans
-
Lifestyle1 week agoThink you can't dance? Get up and try these tips in our comic. We dare you!
-
/cdn.vox-cdn.com/uploads/chorus_asset/file/25672934/Metaphor_Key_Art_Horizontal.png "There’s a reason Metaphor: ReFantanzio’s battle music sounds as cool as it does")
Technology4 days agoThere’s a reason Metaphor: ReFantanzio’s battle music sounds as cool as it does
-
News5 days agoFrance’s new premier selects Eric Lombard as finance minister
-
Business3 days agoOn a quest for global domination, Chinese EV makers are upending Thailand's auto industry