The Postpaid Wallet product licensed by VCBNeo on the MoMo platform offers a breakthrough financial solution when combining a flexible limit of up to 20 million VND and an instant approval process. Customers can easily activate the service immediately when needed, 24/7 without waiting at the counter, responding immediately at the time of payment needs, diverse from essential bills to online shopping. In particular, the synergy between MoMo's multi-layered security technology platform and VCBNeo's strict risk management standards, ensuring absolute safety, helping users feel completely secure when experiencing authentic digital credit services.
5-year journey to realize the goal of "Comprehensive Finance
Launched in 2021, Vi Tra Sau has become a key product in MoMo's financial ecosystem, clearly demonstrating the "comprehensive financial" vision with the goal of helping vulnerable groups in society easily access legitimate financial services.
At the signing ceremony, Mr. Do Quang Thuan - Executive Vice Chairman of the Board of Directors & Standing Deputy General Director of MoMo - shared: "April 2021, Vi Tra Sau was born with the mission of popularizing financial services. After 5 years, we are proud to help millions of students, workers and general laborers for the first time build a credit history on the national CIC system. With a network of hundreds of thousands of payment acceptance points, MoMo has brought digital finance closer to life. However, this journey will break through more strongly when we find a partner who is consistent in vision and decisive in technology like VCBNeo".
Technology power and breakthrough transformation of VCBNeo
To establish this cooperative relationship, VCBNeo has carried out a revolution in operating procedures. Unlike traditional methods, VCBNeo has proactively implemented the transformation process (converting) of the entire approval and risk management model to digitalization to be compatible with MoMo's speed. Thanks to the application of AI and Machine Learning technology, the Postpaid Wallet completely eliminates barriers of complex physical paperwork, distance and time. Credit limits are quickly reviewed based on usage behavior and spending history, helping users access immediate financial resources.
On VCBNeo's side, Mr. Nguyen Anh Tuan - Member of the Member Council cum General Director of VCBNeo - said: "VCBNeo, with the message "Digital For All", will strongly implement digital banking solutions and one of the main directions is to participate and become a bank that sponsors and provides capital to customers based on the Fintech platform. This cooperation is not only about launching a digital consumer product but also a way for us to show our commitment to building transparent, accessible digital financial products and focusing on customer experience.
In the context of Vietnam's consumer credit market growing strongly, MoMo continues to affirm its leading position by leveraging advanced technology and a comprehensive ecosystem. Cooperation with VCBNeo is a strategic step forward in the mission of "democratizing" financial services, together creating new practical and useful values for the community.
