To maximise the effectiveness of the regulatory sandbox in Việt Nam, a more flexible legal framework, enhanced inter-agency coordination, and financial support from both the public and private sectors are necessary.
In the latest draft, the regulatory sandbox will be developed for three fintech solutions, including credit scoring, open application programming interface (API) and P2P lending.
The State Bank of Viet Nam is planning to pilot a regulatory sandbox which would allow fintech companies to participate in providing some banking services starting from 2021.
