Swedish fintech company Vilja has expanded its operations into Vietnam with a new development hub in Ho Chi Minh City, marking its latest move in Southeast Asia following earlier expansions into Malaysia and Thailand.
According to Vilja, the new hub will strengthen its capabilities in cloud-based core banking solutions and support financial institutions in their digital transformation efforts.
“Vietnam offers a strong talent pool in software development, and our new hub will play a crucial role in our global operations,” says Fredrik Ulvenholm, CEO of Vilja.
The expansion into Vietnam follows Vilja’s establishment of its ASEAN headquarters in Kuala Lumpur, Malaysia, in late 2024. The company announced plans to open a new development center in Kuala Lumpur by 2025, with an initial investment of RM50 million over the first five years.
“We see strong demand for our cloud-native core banking platform in ASEAN. Kuala Lumpur as our headquarters was an easy choice due to its talent pool, government support, and regional connectivity,” says Ulvenholm.
In addition to Malaysia and Vietnam, Vilja expanded into Thailand in September 2024, forming strategic partnerships with local firms to drive innovation in digital banking.
The company’s continued growth in Southeast Asia reflects a broader trend of Nordic fintech firms entering the region to leverage its skilled workforce and rapidly developing financial technology sector.
Source: fintechnews.sg
