Viet Nam was seeking co-operation in developing new payment systems to diversify financial services and meet market demand in the new era of technology, Deputy Prime Minister Vuong Dinh Hue said at the meeting with Singapore-based Clermont Group on Tuesday morning.

Hue said Viet Nam had demand for co-operation with companies like Clermont Group to contribute to enhancing financial capacity, improving the health of credit and banking activities and ensuring the security of user databases.

Hue said he supported the Clermont Group’s consulting work for the State Bank of Viet Nam and relevant agencies in developing the ecosystem for fintech and digital banking in the country.

Clermont Group was providing consultation to the State Bank of Viet Nam on the restructuring of domestic credit and financial institutions, and on developing payment services and digital banking.

Founded in 1986 by New Zealand–born entrepreneur Richard F Chandler, the Clermont Group builds and invests in businesses in the financial services, healthcare and aerospace sectors. — VNS