Which company is behind Zalo Pay and TPBank’s ‘money making money’ products?

The automatic profit-generating product initiated by Techcombank has created a wave in the banking industry with participation from banks such as VPBank, TPBank, and VIB. Infina, a fintech based in Singapore, launched the Profit Account product offering high interest rates (4.9%/year for individuals) allowing customers to withdraw money easily. Infina collaborates with Woori Vietnam Bank for this service and entrusts investments in other financial products. To date, Infina has raised billions of VND from investors and partnered with ZaloPay and AppotaPay in similar products. However, Infina faces challenges in competing with major banks due to their reputation and seamless service experience. The company also receives notices about risks in entrusting investments and warnings from the SEC when operating without a license. Infina had previously gained attention with its property co-investment product before shifting to other investment products.