GlobeOne™ Signs Letter Of Intent With VNPT-Vinaphone, The National Incumbent Telecommunication Service Provider In Vietnam
Low Banking Penetration And High Smartphone Adoption Combine To
Make Vietnam A Key Market For GlobeOne As It Poises For Global Launch
SANTA MONICA, Calif.–(BUSINESS WIRE)–GlobeOne, committed to bringing socially-conscious innovation to the
financial sector, today announced that VNPT-Vinaphone has signed a
Letter of Intent with GlobeOne. VNPT-Vinaphone is the first Mobile
Network Operator in Vietnam that has decided to align itself with
GlobeOne as it builds up its rapidly expanding network of Corporate
Members and Member Banks around the world. Targeting both the
financially underserved and socially-conscious millennials, GlobeOne is
well positioned to capture Vietnam’s huge cohort of digital natives
converting to smartphones, enabling the company to provide people with
mobile-based access to meaningful and affordable financial services from
their Member Banks, and the patent-pending income-building SocialBoostTM
program.
“This partnership between GlobeOne and VNPT-Vinaphone marks two
companies with similar visions coming together for the greater good,”
said Sunil Sachdev, Chief Business Development Officer at GlobeOne. “The
VNPT-Vinaphone brand has been built on the principle of inclusion, of
being “available everywhere,” and our alliance now means more people
across Vietnam will be able to access unique financial tools and start
to enjoy the considerable benefits of financial inclusion.”
“VNPT-Vinaphone is proud to enter into this partnership with GlobeOne,”
said Pham Anh Tuan, Acting Director, Market Research and Service
Development Division at VNPT-Vinaphone. “Their community-based model
brings even more innovation to a dynamic mobile banking sector, and it
is innovation with real, tangible benefits. The nationwide coverage of
the VNPT-Vinaphone brand will enable more people to access these
benefits, and we believe the opportunity to earn additional income
streams will be a major attraction to both our existing users as well as
a new customer base.”
GlobeOne’s innovative mobile app will offer access through Member Banks
to a demand deposit account, a security savings account, a secured line
of credit, domestic and international transfers between GlobeOne
Individual Members, as well as access to the income-building SocialBoostTM
program, which gives Members the opportunity to earn a new income stream
while helping those who need it most.
As GlobeOne builds its worldwide infrastructure of Member Banks and
Corporate Members, Vietnam is going to be an important market. Its
demographic is decidedly youthful, with over half of its population
below 30 years of age – representing approximately 47 million people1.
Only 52% of urban adults are banked2, yet smartphone adoption
is rising dramatically (+57% YoY to 20143) and penetration is
already over a third of the entire population4, making this
market primed to adopt a compelling, technology-based financial services
solution such as GlobeOne.
GlobeOne is expected to launch in the United States, Mexico and Vietnam
Q1 2016, with a goal of establishing a global network of Member Banks in
30 countries by 2020.
About GlobeOne
Headquartered in Santa Monica, CA, GlobeOne™ provides a new global
platform for a community of networked Member Banks, Corporate Members
and Individual Members. The network provides Individual Members access
to the Member Banks for their financial services needs, and also
provides a solution for financial exclusion and immobility. For more
information, visit www.GlobeOne.com.
About VNPT-Vinaphone
Headquartered in Hanoi, Vietnam, VNPT-Vinaphone provides comprehensive
ICT integrated services ranging from Fixed, Broadband, Content, IPTV to
Mobile services to both Individual and Enterprise segments. As the
Service Provider of the VNPT Group, Vietnam’s Incumbent Telecom Operator
with 70 years of history, VNPT-Vinaphone is one of the most popularly
recognized brands in Vietnam for all kinds of ICT services.
For more information, visit www.vinaphone.com.vn
1 Source: HKTDC Research “Targeting Vietnam’s youth
market: opportunities and strategies,” August 22, 2013
http://hkmb.hktdc.com/en/1X09UHYN/hktdc-research/Targeting-Vietnam%E2%80%99s-youth-market-opportunities-and-strategies
2 Source: “Vietnam Consumer Landscape 2015.” July 24, 2015
http://www.slideshare.net/XunLanNguyn/vietnam-consumer-landscape-2015-50879993
3 Source: IDC. March 12 2015
http://www.idc.com/getdoc.jsp?containerId=prVN25480615
4 Source: Wall Street Journal. June 12, 2015
http://www.wsj.com/articles/vietnams-mobile-revolution-catapults-millions-into-the-digital-age-1434085300
Contacts
Media Contacts
GlobeOne
Harry Nguyen, +84 90 341 1235
HNguyen@globeone.com
or
VNPT-Vinaphone
Pham
Anh Tuan
anhtuanpham@vnpt.vn
