*In global trade, every cross-border transaction carries a new layer of regulation. “Compliance” — once seen as a bureaucratic burden — has now become a key determinant of competitiveness. For Vietnamese SMEs, Regulation First is not merely an operational principle but a survival strategy — transforming compliance from a mandatory cost into a long-term growth driver. *

When Regulation Becomes the New Game

Regulations such as environmental standards, tariffs, and anti-money laundering (AML/KYC) requirements have long been barriers for Vietnamese SMEs. Yet, when approached proactively under the “Regulation First” philosophy, these challenges can become catalysts for innovation — helping businesses enhance their operational standards and unlock access to high-value markets like the EU and the U.S.

Vietnam’s Legal Landscape: Where Challenges Become Opportunities

Vietnam’s regulatory framework for payments and exports is rapidly aligning with global standards — and, as a result, becoming more complex than ever. Regulations surrounding foreign exchange, AML, and customer identification (KYC) now require SMEs to have the knowledge and ability to meet increasingly stringent monitoring processes from financial institutions. This has created a capability gap: SMEs lack the expertise and tools, while traditional banks remain rigid and slow to adapt. This is precisely where Fintech and RegTech step in.

From AML to KYC — Technology as the “Filter of Trust”

Vietnam's 2022 AML Law requires financial institutions, including fintech platforms that are reporting entities, to risk-classify customers and report suspicious transactions. Cross-border transactions over USD 1,000 must be monitored. Compliance is crucial, not just a back-office task. Fintech platforms like FinFan streamline eKYC and AML reporting into a single API, helping SMEsmeet regulations while ensuring speed and efficiency.

The Cross-Border Payment Bottleneck — and the Fintech Solution

A cross-border transaction via SWIFT can take 3–5 days, incur high intermediary fees, and suffer from data inaccuracies. Vietnamese SMEs lose not only time but liquidity, disrupting production and delivery schedules. To address these pain points, fintech innovators have emerged — optimizing cross-border payments while ensuring full compliance with the State Bank of Vietnam’s regulations.

FinFan — Where Compliance Meets Innovation

FinFan represents the next generation of Vietnamese fintech: where technology and compliance converge under the Regulation First architecture. Operating under the license issued by the State Bank of Vietnam, FinFan leverages technology to deliver compliant cross-border financial solutions. With a unified API, businesses can connect to banks, e-wallets, and global financial institutions through a single, transparent, and legally compliant integration.

FinFan has built a strategic partner network, connecting with global leaders like Visa (aiming for Vietnam's first cross-border collection) and major banks like MSB and BIDV, ensuring strict regulatory adherence. These collaborations validate FinFan's legal trust, as partnerships with highly regulated banks like MSB confirm FinFan's rigorous compliance, enabling SMEs to confidently expand internationally. With FinFan, Vietnamese SMEs are no longer navigating compliance alone — they have a technology partner operating on a comprehensive legal compliance platform, helping them execute cross-border transactions compliantly via its API platform.

The “Regulation First” Flywheel — A Self-Reinforcing Growth Model

Adopting Regulation First is not just about “playing by the rules.” It unlocks a sustainable growth loop for SMEs: Proactive compliance → reduces legal risks and penalty costs. Fintech integration → enhances payment efficiency and speed. Global credibility → builds trust in supply chains. Export expansion → drives revenue and reinvestment into innovation. This creates a self-reinforcing flywheel — where compliance becomes a core capability, not a constraint.

The Future of Vietnamese Fintech: When “Automated Compliance” Becomes the Standard

As the world moves toward real-time payments and transparent regulation, Vietnam stands on the verge of becoming a regional leader in RegTech innovation. Enterprises like FinFan are bridging the gap between regulation and innovation — empowering Vietnamese SMEs to be compliant, agile, and globally competitive. With the State Bank of Vietnam playing a central role in building a legal framework that is both robust and innovation-friendly, Regulation First is set to evolve from a strategy into a new cultural mindset — one that defines the future of sustainable business for Vietnam’s next generation of exporters.