In the context of increasing demand for consumer finance in Vietnam, alternative lending models are developing strongly, an important supplement to the formal credit system. This is a potential opportunity to expand cooperation between Vietnamese enterprises and international partners, including the Czech Republic and Slovakia - countries with developed financial systems and the need to connect with emerging markets in Southeast Asia.

According to FiinGroup's report (June 2025), the non-traditional lending sector in Vietnam includes: peer-to-peer lending (P2P lending), buy now - pay later (BNPL), super-fast lending via apps (payday loans), and new generation pawn systems. The common point of these models is the use of technology platforms to quickly reach customers who are not eligible for bank loans, such as low- and middle-income earners, freelancers, students or individual business households.

Notably, the total revenue of the alternative lending market in 2023 is estimated to reach about 6,500 billion VND, with an average growth rate of nearly 37%/year in the period 2021-2023. In particular, the new generation pawn model accounts for the largest proportion (57.7%) and is gradually replacing traditional pawn forms thanks to professional management, process technology and nationwide chain expansion. Typical businesses include F88, T99, Tien Ngay, Happy Money, Viet Money, Doctor Dong...

The main customers of non-traditional lending companies are the labor group with an income of 5-10 million VND/month, accounting for about 47% of the working-age population. In particular, more than 60% of the labor force in Vietnam is in the informal sector - a group with little access to credit from banks. This is a large market that fintech models can effectively exploit.

However, this sector is also facing a number of challenges, such as an incomplete legal framework, consumer concerns about credit risks, and competitive pressure from banks after the State Bank loosened regulations on small retail loans without proof of purpose of use.

However, the development potential of this market is still highly appreciated. Connecting with fintech enterprises in Vietnam, cooperating on financial software outsourcing, providing alternative credit data, or developing non-traditional risk assessment systems are feasible directions for partners in the Czech Republic and Europe in general.

The Vietnam Trade Office in the Czech Republic is ready to support businesses of both sides to connect, learn about the market, and promote cooperation in the field of finance - technology associated with sustainable and comprehensive consumption.

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📞 In-depth contact information

FiinGroup – Reporting Unit

Website: fiingroup.vn

Hanoi Head Office: 10th Floor, PeakView Building, 36 Hoang Cau, Dong Da

☎ +84 24 3562 6962

HCMC Branch: 16th Floor, Bitexco Financial Tower
☎ +84 329 813 686

Contact the expert: Mr. Hieu Nguyen – CEO
📧 hieu.nguyen@fiingroup.vn | 📞 +84 903 222 662
Ms. Oanh Tran – Head of Market Research
📧 oanh.trankieu@fiingroup.vn
Ms. Linh Le, FRM – Business Development Manager
📧 linh.ledieu@fiingroup.vn | 📞 +84 94 221 6166