Upgraded job-matching app JupViec.vn enables domestic workers to access inclusive financial services

Update: 07:15 | 03/12/2020
Thousands of domestic workers will be able to manage their finances more effectively thanks to the upgraded mobile phone application JupViec.vn.
Upgraded job-matching app JupViec.vn enables domestic workers to access inclusive financial services
The upgraded app is the result of the Urban Migrant Entrepreneur Capital (UMECapital) initiative. (Photo: CARE)

New upgrades offer users a wide range of financial services powered by Application Programming Interface (API) with the ViViet digital banking app. Through this integration, micro-savings, salary advances, mobile top-ups and utility bill payments features are now accessible to over 2,000 JupViec workers.

Launched 1/12, the upgraded app is the result of the Urban Migrant Entrepreneur Capital (UMECapital) initiative, a partnership between the Australian Department of Foreign Affairs and Trade (DFAT), CARE International in Viet Nam, LienVietPostBank and JupViec.vn, with financial support from DFAT via the Business Partnerships Platform (BPP).

For the largely unbanked segment of informal workers like domestic workers, these upgrades mean they can now enjoy financial products designed with their needs in mind. Being able to deposit savings as small as VND 100,000 per day and to get an advance on their salary means low-income informal workers have more flexibility in managing their income.

For LienVietPostBank, such integration enables the ViViet digital banking app to increase market penetration and tap into the low-income customer base, one step further toward realising its ambition to have 15 million ViViet users by 2025 and become a leading retail bank that services the mass market: “a Bank for Everyone”.

In addition, LienVietPostBank has recently launched its latest digital banking app, LienViet24h, which is an updated version of ViViet, to provide customers with a comprehensive 3-in-1 digital banking platform (integrating ViViet, internet banking/mobile banking, and card services) with various smart functions.

“Australia’s Gender Equality and Women’s Empowerment Strategy puts a strong focus on removing institutional, social and financial barriers and increase opportunities for women in the labour market, including women workers in the informal sector” said Mr. Andrew Barnes, Minister and Deputy Head of Mission, Australian Embassy.

“We are proud to support this innovative partnership, which leverages each partner’s unique products, insights and expertise to bring forward a market solution that improves the lives of female migrant workers in Vietnam at scale”.

Speaking at the launch event, Mr. Phan Hong Minh, CEO of JupViec.vn, emphasized, “Seeing a vibrant digital ecosystem with more and more diverse digital products and services accessible at the fingertips of our customers and workers alike is very inspiring to us. Working with thousands of female informal workers, we understand their financial struggles to make ends meet and support their families. Our workers are being paid monthly, but their expenditures are on a daily basis. Streamlining salary advances through the app is one step further in improving their financial well-being, thus improving their performance and retention by attending to their financial needs in a practical and efficient way”.

In addition to the integrated app, JupViec.vn, LienVietPostBank and CARE work together towards embedding gender equality in partners’ policies and business practices to ensure the benefits for urban migrant women are sustained beyond the life of the U-ME Capital initiative. The integrated app announcement today marked the milestone of the initiative’s one-year-partnership.

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