NH Investment & Securities Launches 'Non-face-to-face Account Opening' Linked with Vietnamese Internet Bank

[Asia Economy Reporter Lee Seon-ae] NH Investment & Securities announced on the 29th that it has signed a business agreement with Timo, Vietnam's largest internet banking platform, to launch a '100% mobile-based non-face-to-face account opening service' that allows opening securities accounts at NH Investment & Securities Vietnam branch without visiting a physical branch. The contract ceremony, held remotely, was attended by Jung Young-chae, CEO of NH Investment & Securities, Kim Jong-seok, head of the Vietnam branch, and Nguyen Uyen Bao Hoang, CEO of Timo.

Timo is Vietnam's first internet banking platform with over 400,000 customers. It provides comprehensive financial services through partnerships with local banks, insurance companies, and asset management firms.

This 'mobile-based non-face-to-face account opening service' is part of a cooperative project based on the MOU signed between NH Investment & Securities and Timo in June. NH Investment & Securities is actively leveraging its long-standing domestic IT service and digital platform business operation expertise in collaboration with Timo. It is expected that the synergy between the advanced financial service capabilities of the headquarters and Vietnam branch and Timo's innovative financial services will be realized.

NH Investment & Securities Vietnam branch plans to gradually expand comprehensive securities services such as mutual fund sales and asset management services targeting Timo customers and affiliates, thereby strengthening the partnership between the two companies. In particular, they are open to expanding cooperation, including fintech financial company investments, not only in Vietnam's Timo but also in other Southeast Asian countries where they have entered.

Jung Young-chae, CEO of NH Investment & Securities, stated, "With the spirit of overseas expansion of the domestic securities industry, which has long been regarded as a barren land for exports, we will establish and lead NH Investment & Securities' unique global business."