Hanoi, Vietnam — Financial technology company Tala has entered into a US$100 million partnership with ASEAN bank CIMB to support its expansion into the Vietnamese market.
The partnership aims to address gaps in access to credit in Vietnam, where many adults hold digital accounts but remain underserved in terms of lending options. Through the collaboration, Tala and CIMB will also introduce a digital line of credit designed for eligible customers seeking short-term financing for permitted consumption purposes.
Under the agreement, eligible customers will be able to access credit limits of up to VND 30 million through Tala’s mobile application. Each drawdown carries a tenor of up to 61 days, with borrowers able to select repayment dates that align with their financial circumstances. Customers may also repay loans early without incurring additional fees. The registration, approval, and disbursement processes are conducted entirely through the Tala app.
Commenting on the partnership, Shivani Siroya, CEO and founder of Tala, said, “We’re proud to partner with CIMB, one of the most respected banks in Vietnam, to provide safe, affordable credit to many people who don’t have access. Tala’s state-of-the-art proprietary technology combined with award-winning customer service makes us uniquely qualified to meet the financial needs of underserved Vietnamese.”
Steven Truong, general manager of Tala, also said, “I’ve seen first-hand the frustration and struggles of the lack of good credit options for everyday Vietnamese. The partnership with CIMB will enable us to reach the underbanked with our app and continue to fulfill Tala’s mission.”
Moreover, CIMB will provide banking infrastructure, regulatory expertise, and local market knowledge, while Tala contributes its credit technology and experience in serving underbanked communities. According to the companies, the collaboration is intended to offer customers a streamlined digital experience when accessing financial services.
Le Hien Trang, head of partnership and strategic growth at CIMB Vietnam, also commented, “We expect to expand customers’ access to digital financial services, enabling them to proactively and easily achieve their personal financial goals with financial leverage from the collaborative product between Tala and CIMB.”
Tala, which is headquartered in the United States, reported that it has served more than 13 million customers globally and has disbursed approximately US$7 billion across three continents over the past decade. Vietnam marks the company’s latest expansion in Asia. Tala has operated in the Philippines for eight years, where it has disbursed around US$2 billion to four million customers.
