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Revenue in the IT market is to reach $57 billion

Information and communications technology companies achieved good growth, which is a bright spot in the economic picture that is gradually regaining its recovery momentum.

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In the report of Top 10, prestigious technology companies in 2022 published by Vietnam Report, the revenue in the group of enterprises in the ICT industry in the first 5 months of 2022 is estimated at $57 billion, up 8.5% over the same period in 2021.

With revenue growth in the first 5 months of the year, the ICT industry is expected to continue to grow strongly in the last months of the year, as the wave of digital transformation continues to take place, and technology investment is considered the nature of demand, helping to improve operational efficiency and reduce manufacturing costs across all sectors.

International Data Corporation shows that investment in global digital transformation is still growing at a forecasted compound annual growth rate of 15.5% over the period 2020-2023.

According to the survey of the Vietnam Report, all business and industry experts believe that the prospect of the last 6 months of 2022 will continue to grow, of which 61.1% believe that the growth will be strong.

Compared to previous surveys by Vietnam Report, it can be seen that the industry’s growth expectations are increasing rapidly.

However, besides the opportunities, the digital transformation process in the next normal context in Vietnam’s ICT enterprises is also facing difficulties such as complicated administrative procedures, lack of qualified human resources, research, and limited development of technology products.

Source: https://e.nhipcaudautu.vn/tech/revenue-in-the-it-market-is-to-reach-57-billion-3346531/

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Vietnam hit by 265 cyber attacks a week

Vietnam came under 6,641 cyberattacks in the first six months of 2022, an increase of nearly 128% compared with the same period last year.

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In 6,641 cyber attacks that caused problems to information systems in Vietnam, there were 1,696 incidents of phishing and 859 incidents of defacement, and 4,086 attacks to install malware, according recent report from the Vietnam National Cyber Security Centre.

On average, in the reported period, information systems in Vietnam suffered 1,107 incidents of cyberattacks each month, an increase of 36.5% compared to the annual average of 2021.

Banks were the main target of phishing campaigns that aimed to collect personal information and payment transaction information of users, according to the Department of Information Security.

From the beginning of 2022, this agency has received about 1,000 reports from people about scams in cyberspace.

In the first months of the year, the department detected and handled 506 scam websites impersonating financial institutions and banks. Support for handling and preventing 1.5 million Vietnamese Internet users from accessing scams and illegal sites.

To ensure for Vietnam’s information systems and cyberspace, in the coming time, the National Cyber Security Center will continue to monitor and actively scan, evaluate, make statistics, and promote cyber propaganda and warning so that users know and avoid the risks of cyber attacks; at the same time, focus on urging agencies to review vulnerabilities and signs of cyber attacks.

Source: https://e.nhipcaudautu.vn/tech/vietnam-hit-by-265-cyber-attacks-a-week-3346487/

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F88 receives the Gold Certificate of Customer Protection

Meeting 7 strict criteria set forth by Smart Campaign (USA), Vietnamese consumer loan provider F88 received a gold certificate of Customer Protection Certificate.

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This is the second time, F88 has received this honor. Seven criteria of Smart Campaign that F88 meets are Suitable products; Prevent excessive bad debt; Transparency; Responsible pricing; Respect customers; Privacy and customer data; Complaint handling mechanism.

The above criteria were established by Smart Campaign in 2013 and coordinated with auditing units such as M-CRIL, MFR to assess compliance at microfinance enterprises, thereby awarding Certificate of Insurance protect customers.

In Vietnam, in September 2019, F88 was the first financial institution to be awarded the Customer Protection Certificate, valid until October 2021. Recently, this business has received a notice to extend the certificate until June 2025.

Due to meeting more than 95% of the total criteria, F88 was awarded a gold certificate – the highest level in the certification system. Up to now, this is still the only financial institution in Vietnam to receive this prestigious certificate.

A representative of F88 said that there are 6 over 7 criteria, including suitable products; transparency; responsible pricing; respect customers; Protecting customer privacy and resolving complaints has been present in all of our transactions for many years.

F88 - Vietnam's only microfinance institution to receive a gold certificate for customer protection.
F88 – Vietnam’s only microfinance institution to receive a gold certificate for customer protection.

That is the comparative advantage, the value of the corporate culture that F88 has worked so hard to build. All customers when using the service at F88 are advised by the staff in detail on how to borrow, loan term and loan amount in accordance with each person’s ability to pay.

All customer information is strictly confidential. Debt settlement activities are conducted internally on the principle of understanding, respecting and creating the best conditions for customers to repay their debts.

In the condition that Vietnam’s microfinance market is still in its infancy, many customers are still afraid to access non-bank loans, this is the most effective way. In addition, despite the complicated developments of the COVID-19 epidemic, the total credit risk in the past three years has remained below 1%, helping F88 meet the criteria of preventing excessive bad debt.

From the above business results and operating principles, internal resources, in October 2021, F88 was assessed by Fiin Ratings as BBB – a promising and stable level.

Currently, F88 has developed nearly 700 stores nationwide, providing a variety of convenient financial services from loan product packages to services such as collection and payment agency, insurance distribution and many other convenient services… F88’s main customers are unskilled workers and those who do not have a bank account and cannot access financial services.

Source: https://e.nhipcaudautu.vn/tech/f88-receives-the-gold-certificate-of-customer-protection-3346384/

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