Tala, a financial infrastructure company focused on making financial services more accessible, has announced a $100 million partnership with leading ASEAN bank CIMB to support its launch in Vietnam.
Although many adults in Vietnam use digital accounts, many still do not have easy access to credit, which is an important financial service.
Tala helps close this gap by using AI-powered technology to quickly assess credit, approve loans, and send money to users—all within minutes through its mobile app.
“We’re proud to partner with CIMB, one of the most respected banks in Vietnam, to provide safe, affordable credit to many people who don’t have access,” said Shivani Siroya, CEO and Founder of Tala. “Tala’s state-of-the-art proprietary technology combined with award-winning customer service makes us uniquely qualified to meet the financial needs of underserved Vietnamese.”
Through this partnership, Tala and CIMB are offering a flexible credit line that allows eligible customers to borrow up to VND 30 million for approved uses. Each loan can be taken for up to 61 days, and customers can choose repayment dates that suit their personal financial plans. They can also repay the loan early at any time without paying extra fees.
The entire registration and approval process is done digitally through the Tala app, which speeds up approvals and ensures that funds are sent to customers quickly.
“I’ve seen first-hand the frustration and struggles of the lack of good credit options for everyday Vietnamese,” commented Steven Truong, General Manager of Tala Vietnam. “The partnership with CIMB will enable us to reach the underbanked with our app and continue to fulfill Tala’s mission.”
CIMB provides strong banking infrastructure, regulatory experience, and deep knowledge of the local market, while Tala adds innovative technology and expertise in serving underbanked customers. Together, they offer a smooth, simple, and efficient way for people to access responsible and inclusive financial services.
“We expect to expand customers’ access to digital financial services, enabling them to proactively and easily achieve their personal financial goals with financial leverage from the collaborative product between Tala and CIMB.” said Ms. Le Hien Trang – Head of Partnership and Strategic Growth, CIMB Vietnam.
