Multi-channel Distribution Retail and SME Banking Advisory – Techcombank
Financial Access has provided technical assistance to Techcombank in the strategy development and implementation planning for new initiatives to improve its E-banking and multi-channel product distribution capabilities.
This project was part of broader strategic review of the bank’s product and segment positioning in retail and SME banking.
Structuring Advisory – SEAF
Financial Access provided strategic advice and operational support for the establishment of an investment fund, managed by SEAF, private equity house based in Washington, DC, dedicated to SME investments worldwide. We developed a revised business plan and multi-year projections for the transformation of the fund, a mezzanine and working capital fund for cross-border lending to SMEs in Vietnam, into an on-shore financing company with permanent capital for growth and expansion in the local market. Building on our earlier work in working capital finance in Vietnam, the model developed should be applicable to other markets in which the local SME segment remains under-served by the financial sector.
Our activities in the project were:
- Strategic planning advice for the development of a locally-incorporated SME lending institution in Vietnam;
- Advice on the transformation of an offshore funding vehicle with a limited life to an onshore permanently capitalized finance company;
- Assistance in raising complementary finance to increase the resources available to the fund;
- Assistance with defining and delivering technical assistance needs associated with skills development and capacity enhancement in the lending vehicle.
Technical Twinning Program – Vietcombank
We provided twinning/interim management services related to the bank’s restructuring process. The overall project objectives were to:
- Build up a modern universal banking organisation in accordance to international standards;
- Diversify products and services ranges, especially for SME clients;
- Adoption of advance banking technologies allowing the bank to become the leading provider of high quality financial services to every economic sector in Vietnam.
Our advisory involved the following areas:
- Treasury and asset-liability management;
- Risk management;
- Internal audit;
- Non-performing loan resolution;
- Management information systems (“MIS”), Operations and IT modernization;
- Financial control and international accounting standards;
- Budgeting, performance based accounting;
- Strategic planning;
- Marketing and sales,
- Human resources development.
SME Access to Finance Markets in Vietnam – ministry of economic affairs, agriculture and inovation
With support from the Dutch Ministry of Economic Affairs, Agriculture and Innovation, Financial Access in co-operation with SEAF Vietnam, has conducted research into the potential to establish and invest in a local receivables finance company targeting the SME sector. When sufficient critical mass is generated, plans will be developed to establish an independent finance or factoring company. This should be a solution creating a more level playing field between suppliers and financiers to SME buyers. The factoring model has also a substantial developmental impact, as the need to broaden access to financing for small business in Vietnam is very large.