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Compliance Process in Vietnam: A Journey of Collaboration and Growth

Recently, Mr. Thomas Beurthey, Connexion Vietnam’s Managing Director had the opportunity to be interviewed by the Acclime Vietnam expert team, sharing our process of fostering innovation while ensuring regulatory compliance in the Vietnamese market.

A blueprint for successful collaboration with authorities and the state bank of Vietnam

At Connexion Vietnam, we highlight the importance of working closely with the authorities. Connexion believes that the State Bank of Vietnam played a pivotal role in guiding us with the compliance requirements to obtain the payment intermediary services license. Through regular and constructive dialogues, we were able to gain a deep understanding of the Vietnamese compliance landscape.

Prioritizing compliance: Key aspects for a payment service provider

Understanding complex regulations requires specialization. As an intermediary payment service provider, IT security, anti-money laundering (AML), and know-your-customer (KYC) procedures are fundamental aspects that we must prioritize. We believe, that protecting customer data, preventing fraudulent activities, and ensuring the authenticity of customer identities are especially essential for fintech companies to maintain compliance with stringent regulations.

Mr. Thomas Beurthey - Connexion Vietnam's Founder and Managing Director shares about the company's compliance processwhen doing business in Vietnam:

Driving growth through compliance: The valuable lessons and innovative opportunities

Recognizing the significance of Vietnam's compliance requirements for business development, we enlisted the services of a professional party well-versed in these regulations along with intermediary payment services. As a 100% FDI enterprise, collaborating with professionals provides us with experience and valuable lessons as well as indicates an opportunity for growth and innovation. Our compliance journey has not only secured us the intermediary payment service license but has also positioned us as a trustworthy company by our customers and partners, which has become a foundation for sustainable business growth.

For more information on Vietnam’s digital transformation landscape and fintech prospects, please refer to The Advance of Fintech in Vietnam Industry Report 2023 - published by Acclime Vietnam and supported by Decision Lab.

About Connexion Vietnam and Dibee solution:

Connexion Vietnam is an innovative technology provider in the logistics technology industry. Our solution, Dibee, has been developed over the years to become a comprehensive digital payment and fleet expenses management solution. It offers a cashless payment option through a mobile app and smart card, enabling businesses to efficiently operate their fleet and securely manage fuel costs.

Dibee has gained significant traction among companies operating in various industries, due to its ability to be customized to different management procedures and fleet sizes. The solution's flexibility and adaptability make it a popular choice for enterprises looking to optimize their fleet operations.

About Acclime Vietnam:

Acclime Vietnam is a leading provider of quality outsourcing and consulting services to foreign-invested clients in Vietnam and the Asian region. Acclime Vietnam assists foreign-invested and locally-owned companies in maintaining the highest level of professional standards in Vietnam and the Asia region through proactive compliance, reporting assistance, and advice.

-------------- For further details on how Dibee can elevate your business and streamline your fleet operations, feel free to get in touch with us through:


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