MFast and Trusting Social Partner to Bring Vietnam-rooted Innovations to the Philippines

MFast and Trusting Social, leaders in fintech from Vietnam, are collaborating to integrate advanced KYC technologies to enhance user security and expand their operations in the Philippines, leveraging their substantial tech workforce and innovation.

Manila, Philippines – June 24, 2024 – MFast and Trusting Social, both leaders in financial technologies, are harnessing Vietnamese tech talents to bring their innovations to the Philippines.

According to a 2022 report by DataAI & APPMagic, after the USA, China, and India, apps developed by Vietnam are the 4th most downloaded globally. This is thanks to Vietnam‘s vibrant tech landscape, which has fostered companies like MFast and Trusting Social.

Combined, MFast and Trusting Social have over 300 data scientists, software developers, and IT engineers working on the latest cutting-edge technology in the financial services and generative AI spaces.

MFast is the leading digitally-enabled human-assisted sales agent network in Southeast Asia, while Trusting Social is a full-service identity, risk, and credit solution provider with more than one billion profiles across Asia. In this collaboration, MFast will use Trusting Social’s advanced KYC system to ensure user security and authenticity. Utilizing data & AI-driven insights, the system helps to ensure that every agent onboarded meets the high-quality standards of MFast. Phan Thanh Long, Co-Founder and CEO of MFast, remarks, “We are proud to bring our joint technological excellence to the global scene, starting with the Philippines.”

Tuyen Huynh, Chief Scientist and Co-Founder of Trusting Social, adds, “Our security & credit technologies have always been best-in-class domestically in Vietnam, and now, with MFast’s help, we will continue our journey to become best-in-class regionally across Asia.”

About MFast Philippines
MFast, established in 2017 by entrepreneurs Phan Thanh Long and Phan Thanh Vinh, is a pioneering fintech company headquartered in Vietnam, with expanding operations across Southeast Asia, including the Philippines. As a dynamic agent banking platform, MFast specializes in providing digital financial solutions aimed at enhancing financial inclusivity for the underbanked population. With a mission to empower individuals through improved financial literacy and access, MFast continues to drive financial empowerment with cutting-edge technology and user-centric services.

This press release has also been published on VRITIMES