As the pioneering digital bank in Vietnam, Covid propelled Timo to reposition themselves as social banking that focuses on connecting community & sustainable growth. As a result, in recent times, Timo has shown a strong commitment to every community they associate with, to always be an understanding friend, a long-term partner that could create emotional experiences in a way no bank has ever tapped into.

Mr. Jonas Eichhorst, Director and CFO of Timo Digital Bank shared: “Sports in general and basketball, in particular, are great people connectors. As the pioneering social bank and enabler of sustainable growth, we want people to stay on top of their financial needs, and help them feel connected, whether through features like payment requests or by bringing people together to learn more about managing their finances and how to live responsibly – especially for the younger generation. Our growth direction for Timo is deeply rooted in our commitment to a prosperous and sustainable community in the near future.”

All the success and excitement of the SEA Games 31 with Vietnam’s Men & Women Basketball team in the heat of Thanh Tri Stadium had brought Timo to consider the basketball community as our next challenge and build up to join Vietnamese basketball history.

SEA Games 31 is an essential milestone that witnesses one of the first steps of Vietnam’s basketball history-making journey – Cre: Timo

The story of “Defying the odds, Fuel your passion, Love the game you play”

Truong Twins – #11 Kayleigh Truong Thao My and #14 Kaylynne Truong Thao Vy are Vietnamese American twin sisters currently located in the United States. These two talented girls are among the minority of Asian American players to receive sports scholarships from Gonzaga University and now play for the team at NCAA Women.

During SEA Games 31, hosted by Vietnam, Truong Twins was a part of the women’s team and supported “making history” for the country’s basketball with a silver medal for the 3×3 games. From that moment, Thao My and Thao Vy have become idols that inspire young sports lovers, spreading the love for the orange ball and becoming fundamentals for the growth of national women’s basketball.

In the previous week, Truong Twins was proudly entitled to the shortlist of the 18 most influential names in US college basketball to become the Breaking Limits campaign ambassadors. Their mission is to continue spreading the message “Breaking Limits” and fuel young athletes to pursue their dreams and passions.

Truong Twins has created a positive and inspired young Vietnamese to live life to the fullest – Cre: Timo

Truong Twins Thao My – Thao Vy shared: “I love basketball because it is a universal sport. It gives us the chance to meet different people from different backgrounds. However, on our journeys, we also have to deal with adversity. So many people doubted us and said we didn’t belong and could fit in. But we wouldn’t be here, wouldn’t be the person or player we are today, without those obstacles.

We would like to see continued support from the fans. These past SEA Games show how much dedication these fans have. They showed up to the game early and supported both men and women, especially on the women’s side. We saw a huge fan base, so it just has the fan support to help us stay motivated. Moreover, we want to witness Vietnam compete at the highest level possible with FIBA 3×3 and 5×5 in the future.

We are excited to join Timo Digital Bank on this inspiring journey and have the chance to share the story of “Defying the odds, fuel your passion, love the game you play”. We look forward to seeing Vietnam’s basketball community grow and receive more attention. Thus we, the young generation, will continuously pursue the innovative, positive lifestyle to follow what they desire til success, then help create a more incredible Vietnam.”

Ms. Thu Tran – Vice President of PR & Communications, Timo Digital Bank said: “We are incredibly excited to witness that Truong Twins #11 Kayleigh Truong Thao My and #14 Kaylynne Truong Thao Vy are talented young athletes that reflect Timo’s 4 colour brand story and echo our core values in its truest form. Extending beyond just an “icon,” Truong Twins inspire the young Vietnamese generation to move towards a positive life, follow their dreams and play a critical role in supporting the upliftment of the Vietnamese women’s basketball scene. Timo is extremely proud to be a companion in this inspiring story!”

Timo Digital Bank sponsors VBA Saigon Heat 2022

Timo Digital Bank and the VBA Professional 3×3 Basketball Tournament hope to together carry out a mission of connecting and spreading a love of basketball.

On May 7 and 8 at the Youth Cultural House, the Vietnam Professional 3×3 Basketball Tournament, organized by the Vietnam Basketball Association (VBA), took place, with U/20 and Professional categories.

This year, together with other brands accompanying Vietnamese basketball, such as Viet Capital Bank, Audi, and Nova World Phan Thiet, Timo, a pioneer in social banking and sustainable growth, was the main sponsor of the VBA Professional 3×3 Basketball Tournament. With similarities in vision, mission, and growth direction, Timo joined the VBA to popularize 3×3 basketball, connecting and spreading a love of basketball through urban culture.

The VBA 3×3 tournament was held just before the 31st SEA Games, in which Vietnam is honoured to be the host country. Therefore, not only does this mark the first professional 3×3 tournament in Vietnam but also a training opportunity for the national team to win medals at the SEA Games and bring glory to Vietnam.

Mr. Jonas Eichhorst, Director and CFO of Timo Digital Bank, told VnEconomy about the mission of “Accompanying the VBA on its creative journey and setting new benchmarks in Vietnam and beyond.”

Ông Jonas Eichhorst – Thành viên HĐQT, Phó Tổng Giám đốc phụ trách Tài chính, Ngân hàng số Timo
Mr. Jonas Eichhorst – Director & CFO of Timo Digital Bank – Source: Timo

Why did Timo choose to accompany the VBA and become the main sponsor of the 3×3 Basketball Tournament?

We chose to work with the VBA because we can see consistency and similarities in vision, mission, and growth orientation. The orange colour in Timo’s logo represents the spirit of Innovation and Boldness, which are also the values the VBA is pursuing on its journey. The 3×3 Basketball Tournament is a completely new form of competition in Vietnam, and the VBA had to overcome barriers and breakthrough limits, showing its determination to promote urban culture.

Timo is also always improving its products and services every day so we can deliver outstanding experiences, helping customers stay on top of their finances and live the best life possible. Therefore, we are honoured to work with the VBA to spread a love of basketball among the young and build a stronger foundation for Vietnamese basketball, establishing new benchmarks and achieving bigger goals in Vietnam and beyond.

3×3 Basketball – An urban cultural sport was developed and popularized in Vietnam by VBA – Source: Timo

Is sponsoring sports and, more specifically, basketball, part of Timo’s social banking efforts?

Sports in general and basketball, in particular, are great people connectors. Not until recent years has the World Basketball Federation (FIBA) focused on 3×3 Basketball. With just half a court, one hoop, and three players on each team, exciting games can be held anytime, anywhere. That simplicity has helped 3×3 basketball quickly creep into every corner and become part of urban sports culture. With its contribution and support, Timo Digital Bank hopes that more and more 3×3 games will be held in both the professional and amateur forms nationwide, making 3×3 basketball a cultural connector and bringing basketball closer to sports lovers.

A commitment to a prosperous and sustainable community is a similarity in the growth directions of both Timo and the VBA.

Is Timo’s participation part of the strategy that “Digital banks do not need a branch network but still need to be present everywhere”?

Most customers are used to the fact that every time they need to use financial services, they will have to go to a bank branch. As a digital bank with the ambition of setting new benchmarks for modern banking, this starts from the smallest changes in mindset to meet all of the demands of our customers. To achieve this, the first principle is that Timo be present at all “touchpoints”, through online platforms, and be present in the most genuine way in the daily lives of customers.

The image of Timo alongside 3×3 basketball courts filled with energy and passion all around the country is the fastest way we can reach the hearts of the community as well as global sports lovers.

While the message from VBA is “Basketball we all love”, what is the message from Timo Digital Bank?

One main goal is securing “true love” from customers. First is to win their attention, then make sure they trust and respect what we are doing, and finally understand the value we bring. Then, customers will fall in love and engage with Timo.

The VBA tournament’s message is “Basketball we all love”, with a desire to spread a love of basketball among young people nationwide. As a pioneering social bank with sustainable growth, Timo hopes its support of this first 3×3 tournament will ensure it is a great success and become an annual event, taking Vietnamese basketball to world-class levels.

For maximized convenience in your financial experience, Timo offers our beloved customers a full guidance on cashing in and out of your Timo account.

It’s always free & easy to withdraw

Having a Timo Debit Card means you have the privilege of FREE WITHDRAWAL at more than 20.000 ATMs all over Vietnam.

In addition, you can always do large withdrawals at all Viet Capital Bank branches and offices nationwide.

Ditch the old habits of finding the correct ATMs for free withdrawals. With Timo, you get access to your money anywhere, always free of charge!

Depositing to your Timo account can be done in the following ways

< 5.000.000 VNĐ Fund your account through MoMo e-wallet at their cash deposit/withdrawals checkpoints. Then simply link your Timo account with your MoMo e-wallet to cash out.   
Preferred deposit/withdrawals checkpoints include major CVS chains like Circle K, Family Mart, Ministop,…  
You can also map your Timo account with e-wallets like GrabPay by Moca, ZaloPay & ShopeePay to cash out in a similar manner as MoMo. 
From >= 5.000.000 VNĐMake a deposit at all Viet Capital Bank branches (*).
Check out Viet Capital Bank branches HERE.

Transferring money from other banks to your Timo account is another great way to start using Timo. We offer you the convenience of receiving money from national and international banks, and other payments channels (PayPal, TransferWise,…)

*Notice: For foreigners who wish to deposit from 20.000.000 VND/day and up, Timo will require document verification.

Here is how to find your Timo account number or VietQR code for bank transfer:

On 23rd February 2022, 115 Vietnam-based enterprises were recognized by HR Asia – Asia’s leading human resources magazine, as “Best Companies to Work for in Asia 2021”, Timo Digital Bank included.

2021 was a challenging year not only for Timo but also for a lot of enterprises across many fields. HR Asia take pride in recognizing companies that have demonstrated world-class employee engagement from Vietnam. Many have managed to show great efforts in prioritizing employee experience while navigating through the uncertainty amid the pandemic. As the lockdown movement continues to disrupt business operations globally, companies based in Vietnam understand the importance of keeping employees engaged and motivated to achieve sustainable results.

Regarding the recent award by HR Asia, Henry Nguyen – CEO of Timo Digital Bank shared: “One thing about being a start-up is that it is not easy. We embraced a lot of challenges along the way, especially with the pandemic that hit last year. Having the right team is the most valuable – asset that anyone can ask for. The success in 2021 cannot be done without Timo’s team. Not only did they help Timo to accomplish many achievements in 2021 but also help us setting even more benchmarks for the modern banking industry.

Henry Nguyen – CEO of Timo Digital Bank

I would like to take this opportunity to send my appreciation to all Timonians that chose to stay with the company during such difficult period, being united and maintaining the commitment, constantly devoting themselves to the mission of setting the benchmarks for modern digital banking in Vietnam and beyond. This award today will be marking another important milestone in Timo’s growth. The trophy has reaffirmed that we’re on the right track and empower us to invest in building internal culture, fostering, and developing young talents.”

Despite all the hardships, the pandemic was still an important catalyst for digitalisation, especially in the finance-banking sector. As the pioneer and leading digital bank in Vietnam, Timo Digital Bank has shown its agility in rebranding by focusing on leveraging technology, upgrading its core banking system, and expanding its ecosystem for sustainable development in which human resources will be playing a vital role in the success of the whole enterprise.

Established in 2015, Timo was the first digital bank in Vietnam, with a long-term goal to be the one who set the benchmark for the modern banking industry, in Vietnam and beyond. This begins with small shifts in mindset, thinking about connecting people instead of just bank accounts. And this extends all the way to big questions like how banking in general and Timo specifically can be a contributor to a prosperous and harmonious society. In the next 5-10 years, Timo believes that the Finance-Banking sector will be led by these young talents that are currently being fostered and trained by Timo. From aspiring young employees with experienced leaders, who specialize in all fields, Timo empowers every individual in their team to promote an innovative and sustainable internal culture.

In order to best support Timo’s staff to overcome challenges and achieve the goals together, Timo ensures all employees have the best physical and mental health through offering sufficient compensation policy, good benefits and many bonding activities. The solidarity of Timonians creates a comprehensive and united team, in which individuals’ growth will align with the company’s vision. Timo is building a workplace where employees can consider it to be their second home – an open, united, and supportive office with equal and transparent opportunities.

Our most important mission is to offer comfort and satisfaction to customers. We strongly believe that the only way to meet that goal is to offer positive services and products which can only be provided by our happy employees.

The constant efforts from Timo’s team have helped the company overcome multiple challenges and achieve many prestigious awards such as “Best Customer-Centric Digital Bank in Vietnam” recognized by Global Brands Magazine, named as “Fastest Growing Digital Bank in Vietnam” voted by The Global Economics for 2 consecutive years, top 50 FDI Enterprises in Vietnam 2021 in the category of “Leading Digital Banking Platform in Vietnam” by Golden Dragon Award ceremony. Timo’s $20M fresh funding led by Square Peg was another shining example. These achievements have marked digitalisation maturity and proved the success of enhancing the banking sector in Vietnam.

The Fintech industry has kicked off 2022 with many exciting finance transactions and M&A. This signals a promising year for the fintech industry to thrive even stronger in the coming year. As part of the exciting movement, Timo has publicly shared its most recent funding round led by Square Peg right at the beginning of the new year – 2022.

Square Peg and Timo also share the same goal, and both firms are committed to adding a positive value to customers’ lives, solving customers’ problems in ways others cannot. Square Peg is a world-class and knowledgeable investment firm that seeded many tech unicorns from their infancy like Canva, FinAccel and AirWallex. This investment not only signals digital bank is the future in Vietnam but also affirms Timo’s leading position in this vital sector.

Regarding the good news, Henry Nguyen – CEO of Timo Digital Bank has shared about the company’s strategy to accelerate further its service in the use of the new funding.

Henry Nguyen – CEO of Timo Digital Bank

Covid-19 has taken a severe toll on the economy and businesses. How has it shifted consumer behavior regarding contactless payment?

Consumer behavior has evolved and changed rapidly by necessity and then by force of habit created by four months of lockdown. The pandemic forced people to interact and transact virtually, greatly accelerating online transactions and electronic payments. Avoiding face-to-face interactions has driven more rapid adoption of cashless and contactless payments among consumers – and these newly acquired behaviors will remain even after the pandemic.

Along with adapting to the new normal of life with the pandemic, electronic transactions are reaching the tipping point. Consumers demand that their banking and financial services respond to their needs and keep up with the rapid changes in how they manage the transactions in their lives. At Timo, we are building a modern banking service that is responsive to this consumer demand – one that is accessible, relevant, and valuable to our customers.

We know that banking does not exist in isolation and believe in social banking. For us, this begins with slight shifts in mindsets, thinking about connecting people instead of just bank accounts. This extends to big questions like how banking can be valuable and relevant to customers. Most of all, our team at Timo is driven by making the lives of our customers better and more prosperous.

We have worked on many platforms such as Zalo Connect during the strict lockdowns to help people adapt to the complex environment where transactions cannot happen face-to-face. We made sure our Timo customers could process all peer-to-peer transactions easily and quickly.

To become more relevant and valuable to customers, Timo continuously launches breakthrough features such as “Li xi Term Deposit” in the 2022 Tet season – Source: Timo

How is Timo partnering with other financial institutions, such as banks and e-wallets in Vietnam?

Timo believes that a robust digital ecosystem will make it easier for fintech businesses to develop faster and connect with modern digital customers more engagingly. A digital ecosystem built on solid partnerships will enhance the value that we all create for our customers and accelerate the growth and adoption of our services. It is a win-win approach where one plus one is more significant than two.

Like many tech startups, we are always moving as fast as we can to develop the best possible products for our customers. However, we also know the power and value of partnerships and nourish an ever-growing network of partners. We want to create synergistic values for Timo, our partners, and our entire universe of users. Of course, building these networks takes tremendous time and effort. It is not just technology; it is a lot of product work and interfacing between the two companies.

In addition to developing more products and constantly improving quality and accessibility, Timo and our strategic partners will continue building our ecosystem to offer a range of convenient services while ensuring the customer’s needs and experience are at the center of it all.

Large parts of the Vietnamese population are still unbanked and underbanked. How can Timo’s non-cash services help this segment achieve financial inclusion?

Financial inclusion is one of our primary missions at Timo. As traditional banking services can be operationally expensive, they tend to ignore customers on the lower rungs of the socioeconomic ladder. Timo believes all people in Vietnam should have access to no-fee banking services and become more integrated into the formal economy.

Offering no-cost banking services to all customers means there is one less barrier for them to perform electronic and cashless transactions and therefore be a part of the rapidly growing digital economy. To achieve this, a big part of our work is to educate and provide access to essential banking services.

This means developing and applying the latest technologies to serve a more significant segment of the population in a low-cost way.

In the end, the most important thing we focus on is how to serve our customers best so that their financial lives can be easier to manage, more accessible and convenient, and simply more prosperous and more valuable. Technology is just one of many tools to do this. Our team at Timo and their drive to serve our customers are making this happen. They too are customers, and they want to make a great product that makes everyone’s life better.

At Timo, we work hard to identify the problems and challenges that banking customers face every day. Being customer-centric is a core part of our ethos. Regardless of the barriers we meet in solving these problems, we know we must continue improving every day to serve our customers and earn their trust. Winning our customers’ trust and love is critical to our long-term success.

The investment round is led by Square Peg, a leading global VC firm whose investments include unicorns such as Canva, FinAccel and Airwallex. Other participants are Jungle Ventures, Granite Oak, FinAccel, Phoenix Holdings (existing investor) and other super angels. 

How Timo is redefining banking in Vietnam

Established in 2015, Timo is Vietnam’s first digital bank and has steadily evolved to become the country’s leader in digital banking. In 2019, the bank announced a strategic partnership with Viet Capital Bank, further accelerating its growth.

Timo – which stands for Time and Money – has consistently emphasized customer-centricity at its core. The company is widely recognized as being one of the first banks in Vietnam to offer eKYC services. Operating in a country where banking adoption rate is still relatively low, this helps customers save time during on-boarding and allows them to access other banking services online faster through its platform. More recently, the company has been accelerating its vision of social banking, recognizing that banking and financial services always are embedded in a broader context.

Securing the backing of Square Peg

With over US$1 billion in assets under management, Square Peg has backed category-defining companies including Southeast Asian fintech giants like Kredivo, StashAway and Pluang. Square Peg’s mission is to empower exceptional founders, and has invested over US$200M in Southeast Asian startups.

Tushar Roy, Square Peg Southeast Asia Partner said: “We have been impressed by the Timo team’s vision to transform banking in Vietnam. In a market with almost no other independent, digital-native players – Timo stood out from the crowd. It is a mission-oriented team aligned around creating beautiful experiences for customers and bringing more people in Vietnam into the financial ecosystem. We are excited to support Timo on its journey.”

Henry Nguyen, CEO Timo Digital Bank said: “This funding round is not only a signal that digital banking is the future in Vietnam, but It also demonstrates investors’ confidence that Timo is leading this important sector. We are deeply committed to our mission of setting the benchmark for modern banking in Vietnam while bringing greater financial inclusion and accessibility to the large majority of the population which remains unbanked. Timo aims to become the bank that is at the center of our customers’ financial lives. We are delighted to have world class investors led by Square Peg joining us on our journey.”

About Square Peg

Square Peg is a global investment firm on a mission to empower exceptional founders. With teams in Singapore, Israel and Australia, Square Peg invests in emerging technology companies across the internet economy. Square Peg has over US$1 billion in assets under management across multiple funds and has invested in category-defining companies including Fiverr, Canva, PropertyGuru and Airwallex. Since 2013, Square Peg has invested over US$200m in Southeast Asia in companies including Pluang, Stashaway, DoctorAnywhere and Neuron Mobility. In 2021, Square Peg expanded into global listed equities, with the launch of the Global Tech Fund.

About Timo

Timo is Vietnam’s very first digital banking platform which has rapidly developed over the past six years and become the country’s No.1 digital bank. Timo’s commitment to continuous innovation and its customer-centric approach have positioned it a true digital banking pioneer and as a leader in redefining modern banking services in Vietnam and beyond. In the past several years, Timo’s efforts have been recognized through many honors inside and outside of Vietnam including being named in the Top 50 FDI Enterprises in Vietnam 2021 as the “Leading Digital Banking Platform in Vietnam” by the Golden Dragon Awards and “Best Digital Bank in Vietnam 2021” voted by International Business Magazine.

Bank recognized for use of technology to grow and ensure sustainable development during challenging times.

Due to the impact of the Covid-19 pandemic, 2021 has been evaluated as a difficult and challenging year but has also created momentum for the digitalization of society as a whole and especially the banking and finance sector. As the pioneer and leading digital bank in Vietnam, Timo Digital Bank has shown its agility in rebranding by focusing on leveraging technology, upgrading its core banking system, and expanding its ecosystem for sustainable development. These efforts have helped it overcome this difficult period. Timo was honoured to be the only Vietnamese representative named “Fastest Growing Digital Bank” for two consecutive years.

Vietnam marked its early arrival in the digital banking market with the appearance of Timo in 2015. Now is a “golden” time for Vietnam’s banking and financial services industry to make breakthroughs and innovations. The high penetration of digital payments has sped up traditional banks’ digitalization process, and Vietnam is fast becoming the only country in the region to rival Indonesia as a destination for investment in consumer-focused startups.

According to reports from UOB, PwC Singapore, and SFA, total investment in Southeast Asia’s fintech sector in the first nine months of 2021 was three times higher than in all of 2020, reaching a record $3.5 billion. Of this, Vietnam is ranked third in FDI fintech attraction, accounting for 11 per cent of combined capital in the region. A report from Findexable also put two large Vietnamese cities on a list of leading fintech hubs in the Asia-Pacific region. Accompanying the increased FDI in the fintech market and digital banking in Vietnam, the explosion of technology and the increasing demands of customers is bringing Vietnam’s target of having ten unicorns by 2030 closer.

Along with many developed markets in the world, Southeast Asia has great potential for investors in the field of digital banking. Source: Business Financing

Recognizing the opportunity for Vietnam’s digital banking market, many new players have participated in the “digitalizing race”, along with the participation of traditional banks, bringing about an exciting and fierce market. Competitive pressure has emphasized the importance of building customer trust and confidence when it comes to digital financing services.

At Timo, we are building a modern banking service that is putting customer demands at the heart – one that is easily accessible, convenient, and relevant, and valuable to our customers. Timo’s app has been innovated with features like TimoPay by Link, and Smart History, allowing recipients to respond to transactions like a social networking platform, integrating different financial needs such as insurance and investment. Timo is driven by making the lives of its customers better and more prosperous. During the difficult time of COVID-19, TimoPay by Link has provided an easy, convenient and free way to send money to anybody in need without the hassle of asking for the bank details. This is an impressive step that Timo has taken, bringing itself closer to the goal of becoming a social bank.

Timo aims to become a “financial partner”, providing all integrated financial solutions in one application. Source: Timo

With a long-term and sustainable development strategy, Timo is focusing on expanding its partner ecosystem, both in the financial and non-financial sectors, to reinforce the connection with customers at every “touchpoint”. With a strategy of “standing on the shoulders of giants”, Timo achieved unparalleled customer outreach and increased its brand recognition by opening hangouts in association with leading brands like 7-Eleven and McDonald’s. Recently, it has cooperated with South Korea’s leading securities company, NH Investment & Securities, to develop more diversified integrated financial solutions, helping it become a “financial partner” and offering a digital banking app that covers all financial needs.

“From Timo’s pioneering efforts, Vietnam’s digital banking scene has experienced significant changes,” said Mr. Henry Nguyen, CEO of Timo Digital Bank. “Timo needs to thrive for the better in order to compete and maintain our standing. Beyond the concept of a traditional bank, we aim to develop into an ecosystem that covers every aspect of our customers’ daily lives. In the near future, banks will no longer play a key role in controlling their customers’ finances, and instead will be a platform to assist them performing financial-related tasks.”

Covid-19 has sped up the expansion of the digital banking sector in Vietnam. Financial inclusion is definitely one of Timo’s main missions. This means developing and applying the latest technologies to serve a larger segment of the population and be able to do so in a low-cost way. Offering no-cost banking services to all of Timo’s customers means there is one less barrier for them to perform electronic and cashless transactions and therefore be part of the rapidly growing digital economy. In order to achieve this, a big part of Timo’s work is to educate and provide access to basic banking services.

This October, Timo Digital Bank is releasing the latest application update. This 2.7 version promises to explode with all the fascinating new features that you’ve never seen before on any banking app!  

So what’s new in this version? 

Don’t just send money, send emotions as well! 

Have you ever imagined of sending emotions with a transaction? Well now it’s all possible with Timo 2.7 version.  

You can type in full Vietnamese messages and emojis as much as you like for bank transfer messages between you & Timo Friends. This is the very first time a bank allows you to experience this fun with transactions!  

You can also interact with transaction from Timo Friends as simple as any Facebook post. You’re just one tap away from reacting with ‘like’, ‘love’ or ‘haha’!  

Instantly check transaction history between 2 accounts  

Ever need to see if you’ve sent money to your buddy? You’ll never have to “swim” among long history list of transactions with everyone anymore.  

With our Smart History, save more time to review transaction history! 

Require precise transaction amount with Dynamic QR 

We know you will need to require transactions with specific amount of money, it’s all possible with our Dynamic QR!  

No more typing in wrong information of bank account or money number, just scan and send in seconds with Dynamic QR. 

 Card requesting right in-app!  

Do you know that with Timo Debit card, you could:  

  • Withdraw money at 17.000++ ATM nationwide.  
  • Free all possible fees that normal banks still charge. 
  • Or even better, connect to 2 more E-wallet Moca & ShopeePay! 

Haven’t receive yours? Don’t worry, you just need 01 seconds send request right from the Timo App.  

Update your Timo app now and enjoy all the greatest upgrade with your banking experience!    

Since our launch in 2015, Vietnam’s first digital bank, Timo, has rapidly evolved into one of the country’s most awarded banks, named both ‘Fastest Growing Digital Bank’ and ‘Most Innovative Digital Bank’ at the 2020 Global Economics Awards, International Business Magazine’s ‘Best Digital Bank in Vietnam’ and Global Brands Magazine’s ‘Best Customer–Centric Digital Bank’ in 2021.

Timo’s commitment to continuous innovation and our customer-centric approach have positioned Vietnam’s digital banking pioneer as a leader, not just in Vietnam, but across the entire Asia Pacific region.

Established in 2015, Timo was the first to offer a fee-free, easy and convenient digital banking experience in Vietnam. Since then, Timo has aspired to set the benchmark for modern banking, in Vietnam and beyond.

Today, Timo – which stands for Time and Money – is committed to helping our customers save time and make the most of their money through a single, easy-to-use platform.

In a country like Vietnam, with low rates of formal financial inclusion, yet incredibly high levels of smartphone ownership and internet penetration, focusing on meeting the needs of the young, digitally-savvy segment of the population has proven a successful strategy. Timo has also taken the innovative step of partnering with high-profile retail brands including McDonald’s and 7-Eleven, setting up kiosks – known as ‘hangouts’ – in high traffic retail outlets to enable customers to sign up to become a Timo customer quickly and conveniently. This approach has helped to increase Timo’s brand recognition, and allow us to connect directly with customers, particularly the younger generation.

“Our goal is to help people stay on top of their finances and live their best possible lives. We do this through rethinking a wide range of banking products and services and focusing on providing the best possible customer experience. We know that banking does not exist in isolation – we believe in the idea of social banking, and for us this begins with small shifts in mindset, thinking about connecting people instead of just bank accounts. And this extends all the way to big questions like how banking in general, and Timo specifically, can be a contributor to a prosperous and harmonious society.” Henry Nguyen, CEO, Timo.

Timo is continuously looking at ways to leverage technology to understand and better serve our customers, with a view to making accessing financial services easy and convenient.

Timo and Mambu

Timo partnered with Mambu to leverage the benefits of a cloud-native core banking platform as it scales our business to a full-service digital bank. And with plans to further grow our ecosystem of strategic partners across different industries to enable maximum convenience for customers, Timo will be relying on Mambu’s agile and responsive cloud platform to continue powering Timo’s evolution.

“Our ultimate mission is to enable financial inclusion for everyone – not just for those who are ‘unhappily banked’ or those who are currently ‘unbanked’, but inclusion across our entire society. Utilizing Mambu’s cloud banking platform allows us to build a bank that is truly accessible to everybody. We want to become a financial partner to our customers and provide services that enhance our customers’ lives, and with Mambu we’ve found a technology partner that allows us to do that.” Henry Nguyen, CEO, Timo.

Timo digital bank joined Zalo Connect with a solution to allow donors to financially support people affected by COVID-19.

The project named “Surround yourself with green hopes” – Zalo Connect allows people to transfer money quickly and conveniently via Timo digital bank. Transfers can be made with only a link (no account number necessary) that is being used on Zalo Connect to support people in difficulty.

Each “orange dot” is a cry for help on Zalo Connect

Amid the COVID-19 pandemic, a new tool on Zalo Connect permits people in Ho Chi Minh City, Dong Nai, Binh Duong, and Long An to seek emergency support from the community to request foods, medicine, essential goods, and quickly connect with doctors or medical professionals for remote consultation.

As social distancing measures continue to be extended and the transportation of goods on inter-district routes is limited, many donors choose to support their peers in difficulty with financial means.

Those joining the Zalo Connect community are moved to tears by seeing the number of people calling for help in their community. Each “orange dot” (indicating people lacking food or medicine) on Zalo Connect is a story of adversity and need.

It could be a lonely old man running out of food, a young couple with a child who has gone without milk for weeks, a student who could not return home before the social distancing and is trapped at home with no money, an unemployed worker who can no longer afford to pay rent, or an expecting young couple who cannot afford essentials.

The project “Surround yourself with green hopes” – Zalo Connect is among the Top 10 campaigns for the community to “shine the most during the pandemic season” according to YouNet Media report

As of September 9, nearly 40,000 people had joined Zalo Connect to support those in difficulty, with more than 100,000 orange dots turning green after receiving food and necessities. About 92 per cent of requests for help were for essential food such as rice, eggs, meat, fish, vegetables, milk, and bread, while the rest was for other necessities such as washing powder, toothpaste, electronic appliances, medicine, and healthcare advice.

Nguyen Vu is a resident in Tan Phu district of Ho Chi Minh City who had participated in Zalo Connect, said she was looking to support families with children or elderly relatives, as well as families with F0 cases being treated at home. She eventually chose a young couple in Binh Tan district.

“Via Zalo Connection, I saw a request from Le Nguyen who is living in a small inn with a 4-year old. Due to the pandemic, Le and her husband were jobless and ran out of money. I sent some money to Le to help them overcome the difficult time,” Nguyen said.

Thu Hong, a resident in District 10, Ho Chi Minh City said that in the past few days, besides practical and meaningful support activities such as fundraising, supporting, and empowering medical staff, doctors and volunteers, campaigns like “Surround yourself with green hopes” has helped spread positive messages and energy throughout social networks and the whole community to overcome the pandemic.

“The ‘Surround yourself with green hopes’ project has really brought together the community and spread the love, making both the needy and the helpers more optimistic and more connected,” Hong said.