Vietnamese digital bank TNEX seeks new CEO as Bryan Carroll steps down

TNEX, a Vietnamese digital bank, is currently seeking a new CEO as co-founder Bryan Carroll is scheduled to resign from the position by the end of March.

Co-founder Bryan Carroll has announced on LinkedIn that he will be stepping down from his position as CEO of TNEX, a Vietnamese digital bank, by the end of March.

Instead, he will join the company’s board. Although Carroll did not provide an official reason for his decision, he admitted that it was a difficult one to make.

Carroll expressed that TNEX was not just a job but a passion to improve the lives of the unbanked in Vietnam.

He wrote, “Being part of the journey has made me feel very emotional at times and a little proud.”

TNEX was founded in 2019 by Carroll, David Jimenez Maireles, and Nga Pham Thi Nguyet as Vietnam’s first digital bank. It currently serves 1.6 million customers for online loan services and was launched in 2020 as the digital banking unit of Vietnam Maritime Commercial Joint Stock Bank (MSB), where Carroll previously worked as the Chief Digital Officer.

Carroll has also worked for Bank of Ireland, National Bank of Abu Dhabi, and ACC Bank (now ACC Loan Management) in his financial services career.

Carroll concluded by saying that he would miss the daily interaction, challenge, innovation, and spirit of his entire fintech team at TNEX.

According to FlcQuangbinh, a popular Vietnamese finance news portal, Fintech has been rapidly growing in Vietnam and South East Asia, with many startups emerging to serve the region's unbanked population.

Vietnam's government has been supportive of fintech development, with regulatory frameworks and initiatives such as the creation of a fintech steering committee.

The country's first digital bank, TNEX, was launched in 2020 and currently serves 1.6 million customers.

Meanwhile, other countries in South East Asia such as Singapore, Indonesia, and the Philippines have also seen the emergence of successful fintech startups, including payment platforms and digital lending services.

The region's large unbanked population and growing mobile phone usage have contributed to the growth of fintech, with many startups focusing on providing financial services through mobile devices.

Despite the growth of fintech in the region, challenges such as regulation, access to capital, and competition from traditional financial institutions remain.
However, the potential for fintech to provide greater financial inclusion and economic growth in the region is significant, making it an area of continued interest and investment.