In 2025, the Vietnamese government issued Decree 94/2025/ND-CP, establishing a pilot legal framework for Peer-to-Peer (P2P) Lending. This significant move marks a new chapter for the P2P Lending market in Vietnam, which has experienced various challenges and transformations over nearly a decade since its inception.
Tima, a financial connection platform founded in 2015, has been a pioneer in the P2P lending market for 10 years. From its early days, Tima aimed to create a direct connection between borrowers and lenders, particularly focusing on individuals who often struggled to secure loans from traditional banks. This included those with limited credit histories or informal businesses that lacked formal documentation.
Over the years, Tima has achieved impressive milestones, processing 17 million loan applications and serving 10 million borrowers alongside 70,000 investors. In 2019, Tima was recognized as one of the Top 5 fastest-growing Fintech companies in Vietnam and was included in the Top 10 of the Sao Khue Awards for financial technology services. The company has also successfully raised millions of USD from the international investment fund Belt Road Capital Management, solidifying its position in the industry.
Mr. Tran The Vinh, CEO of Tima, highlighted the importance of Decree 94 for the P2P Lending industry in Vietnam, stating, "This decree is a significant milestone for the entire P2P Lending sector in Vietnam to test innovative, safe, and transparent alternative financial solutions." This regulatory framework aims to ensure compliance and promote sustainable growth within the industry.
Tima stands out not just for its scale but also for its advanced technological capabilities. Since 2017, the platform has implemented a credit scoring system utilizing Big Data and AI to enhance accuracy in assessing risks. Furthermore, Tima has pioneered the application of electronic Know Your Customer (eKYC) technology combined with biometric recognition to streamline the verification process and minimize fraud risk.
The automated loan management system allows for seamless connections and electronic contract agreements between parties, enabling easy tracking of payment schedules. Tima has also developed a real-time transaction monitoring system, complete with early warning mechanisms, to continually analyze the quality of its loan portfolio.
As the P2P Lending market in Vietnam evolves, Tima has remained committed to transparency and user experience, building trust in alternative financial services. The company has navigated through various market fluctuations over the past decade, emerging as a resilient player in the industry.
The introduction of Decree 94 is seen as both an opportunity and a challenge for the P2P Lending sector. While it establishes a clearer regulatory framework, it also demands high operational and risk management capabilities from companies in the market. Tima, with its established technological infrastructure and brand reputation, is poised to leverage this new landscape.
Mr. Vinh emphasized, "We are committed to being a pioneering force in this sector, ensuring that we contribute to the comprehensive financial strategy of Vietnam while fostering a safe and innovative P2P Lending ecosystem." This commitment not only reflects Tima's dedication to its clients but also its role in shaping the future of financial technology in Vietnam.
Over the years, the P2P Lending market has seen many players come and go, with numerous platforms shutting down due to legal, technological, and risk management challenges. However, Tima has consistently demonstrated its ability to adapt and thrive, thanks to its strong focus on technology and risk governance.
The company’s strategic investments in technology have paid off, allowing it to offer a robust platform that meets the needs of both borrowers and lenders. Tima’s success is a testament to its foundational principle of transparency and safety in financial transactions.
As the market continues to develop, Tima is not just looking to maintain its position but aims to lead the way in establishing best practices within the P2P Lending space. The company’s collaboration with traditional financial institutions further enhances its credibility and expands its service offerings.
In conclusion, Tima's journey over the past decade reflects the resilience and innovation within the Vietnamese P2P Lending market. With the new legal framework in place, the company is well-positioned to continue its growth trajectory and contribute to the financial landscape of Vietnam. As Mr. Vinh aptly put it, Tima is not just a participant in the P2P Lending sector; it is a leader driving the evolution of financial services in the country.