KBTG Vietnam, a member of Thailand’s KASIKORN Business-Technology Group (KBTG) in Vietnam, has increased its staff by four times after just six months of operation, according to the company.

KBTG Vietnam Co. Ltd., a technology subsidiary of KASIKORNBANK (KBank), one of Thailand’s prominent commercial banks, has revealed remarkable growth in its workforce.

In just under six months of operation, the company's employee count has surged from 30 to 120, demonstrating substantial expansion and development.

Located in Ho Chi Minh City, an economic hub in southern Vietnam, KBTG Vietnam is the second branch of KBTG in ASEAN and the third in Asia, following KBTG in Thailand and K-Tech in Shenzhen, China, according to the firm.

Thanussak Thanyasiri, managing director of KBTG Vietnam, revealed that KBTG will continue boosting the headcount in its Vietnamese base to 200 in 2024 to meet its increasingly expanded operations.

In June, when KBTG Vietnam was established, KBTG said the group would recruit more than 500 employees in the next three years for the Vietnamese base to meet the facility’s expanded operations, making it a leading fintech hub in the region.

Such performance will also contribute to KBank’s goals to become one of the top 20 commercial banks in Vietnam by 2027, KBTG said. 

Serving as KBTG’s extended arm and overseas information technology (IT) hub, KBTG Vietnam offers support to KBank and KBTG as they expand across the region.

KBTG Vietnam is giving assistance to more than 30 fintech projects in Vietnam, Thailand, Cambodia, and Laos, including areas such as mobile banking, Internet banking, core banking, and various initiatives related to the financial sector.

The Thai leading fintech group will also initiate cooperation programs with universities in Hanoi in the coming time to provide specialized knowledge and career opportunities for Vietnam’s young technology talents. 

At the same time, it will continue launching innovative products serving other sectors besides banking for customers in Thailand, Vietnam, Laos, and Cambodia,Thanussak stated.

Vietnam's fintech sector has the highest growth rate in Southeast Asia, only after Singapore, and “is predicted to reach a staggering value of US$18 billion in 2024,” according to the report 'The Advance of Fintech in Vietnam (2023),' which was jointly conducted by Acclime Vietnam, a premier corporate service provider in Vietnam, and Decision Lab, a leading Vietnamese market research company.

Vietnam is now one of the most attractive markets in the Southeast Asian region for investors interested in fintech, according to the report.

“The growth of the middle class, tech-savvy population, and dynamic e-commerce ecosystems is fueling the burgeoning fintech sector in Vietnam, accompanying mature geographies in the Asia Pacific (APAC) such as China, Australia, and Singapore,” the report said.

Along with its strong development, the sector needs about 700,000 more highly qualified IT professionals by 2025, despite the number of IT graduates increasing strongly every year, according to TopDev, a leading IT recruitment platform in Vietnam.

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