MICROCAPITAL BRIEF: GlobeOne, Eximbank to Bring New Mobile Banking, Internet Platform to Vietnam

GlobeOne, a US-based company providing a mobile platform for the provision of financial services, recently signed a letter of intent with Eximbank, a joint-stock commercial bank that is controlled by the Vietnamese government, to bring its platform to Vietnam.

The platform will offer a suite of financial services including demand deposit accounts with debit card access and no minimum balance; lines of credit; and access to SocialBoost, a lending program that gives half of the interest charged by member banks to communities in need. Users will also be able to make domestic and international money transfers through the service.

GlobeOne also has signed letters of intent to launch services during 2015 in the United States in partnership with MetaBank and in Mexico with InvestaBank and Bankaool.

By Jared Deveau, Research Associate

About GlobeOne

GlobeOne, which is headquartered in Los Angeles, California, was founded in 2013 and provides a financial platform for banks, corporations and individuals. GlobeOne’s platform provides financial services such as the ability to transfer funds, create no-minimum demand deposit accounts with debit card access, and open lines of credit backed with savings accounts.

About Vietnam Export Import Commercial Joint-Stock Bank (Eximbank)

Vietnam Export Import Commercial Joint-Stock Bank (Eximbank) was founded in 1990 and has charter capital of VND 12.4 billion (USD 565,600) and owners’ equity of VND 13.3 billion (USD 609,800) as of 2015. Eximbank has 207 branches in Vietnam.

Sources and Additional Resources

GlobeOne, GlobeOne Announces LOI with Eximbank to Bring New Mobile Banking Network to Vietnam

Eximbank, History and Development

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