IFI's Master of Fintech students research and propose solutions to improving QR Code applications for businesses

This is the second year Fintech Challenge has been organized with the participation of students of Course 2 - Master of Fintech at IFI. Fintech Challenge is considered one of the core modules of the Fintech Master program, providing an opportunity for students to work as expert teams bringing Fintech solutions to businesses. This year, the Master of Fintech program continues to take on the challenge from Mr. Thái Trí Hùng, a former IFI student, and now the Chief Technology Officer (CTO) of MoMo.

With this module, students should work in groups of 4, under the advice and support of professors and lecturers in the program from England and France. Students are allowed to search for ideas and propose solutions in paper within 2 weeks to improve QR code applications for Fintech businesses. The student groups should include the following contents in the report: An explanation of how the QR code payment works and a description of its development process in Vietnam; An evaluation of the positive/negative effects (if any) of this form of payment on the participants/stakeholders (banks, e-wallets, customers, payment acceptance points); Proposing solutions to develop this form of payment in the future.

The Assessment Council included the participation of Mr. Thái Trí Hùng and lecturers from the Business School of Normandie (EM Normandie) and IFI including Prof. Werner Krings, Dr. Hồ Tường Vinh, and Dr. Đào Tùng.

Mr. Thái Trí Hùng highly appreciated the analysis report of the groups for the given questions, and the solutions suggested. “I think the teams have worked hard and succeeded with the Fintech Challenge from MoMo,” he said, also the Council's remark to all of the students.

The students of Course 2 - Master of Fintech had the same agreement that this is such a critical issue about QR payment methods in Vietnam in this day and age. The payment solution is still new with only limited information while this is a very competitive market. Therefore, the course helps students dig deeper and learn more about technological solutions with the guidance of Vietnamese and international professors, along with the support of the business.

Mr. Trần Thiện Phương, Digital Sales Manager, MB Bank (Military Bank), a member of group 1, said that his team did come up with a general solution for the whole market and a specific one to MoMo. Mr. Phương also paid a compliment to the lecturers of the Fintech program who are all experienced experts in the Fintech field. “In the process of interacting with teachers, I feel that I am no longer a student but a colleague, I have the opportunity to work, experience and gain more valuable experiences from the teachers. " - Mr. Phuong said.

Appreciating the program, Mr. Đoàn Thạch Cương - Digital Transformation Consultant at FPT Digital - shared that through this course, he has learned a lot of new and practical knowledge about payment via QR code. “As a consultant on digital transformation, I understand more than anyone else the importance of digital technology in this era. Fintech is the transformation trend of the world. I did research and learned that IFI was the only institute in Vietnam that specialized in Fintech training, so I immediately decided to study this program at IFI.”

MoMo (M_Services JSC) is a FinTech startup providing payment, e-wallet and mobile apps for iOS and Android devices. The company's products help customers in Vietnam transfer money nationwide, pay more than 100 types of bills, top up mobile phone accounts, pay personal loans, and purchase services such as copyrights. software, online game cards, airline tickets and movie tickets, etc. partner system with 24 domestic banks and foreign payment networks, including JCB, MasterCard and Visa. On April 20, IFI signed a cooperation agreement with MoMo. Accordingly, Momo is an educational partner of IFI under the university-enterprise cooperation model.

Here are some pictures at the Fintech Challenge: