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Viettel Group, Hanoi, Vietnam: Mosan Application, Timor-Leste's top fintech solution

Company: Viettel Group
Company Description: Viettel has completed the mision of "Popularizing telecommunications services' for all Vietnamese people and now, we desire to pioneer in creating a digital society" in Vietnam
Nomination Category: Product & Service Categories - Business Technology Solutions
Nomination Sub Category: FinTech Solution
2023 Stevie Winner Nomination Title: Mosan Application - Timor-Leste's top fintech solution
  1. Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the the nominated new or new-version product or service, OR written answers to the questions for this category? (Choose one):
    Written answers to the questions
  2. If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.

     

  3. If you are providing written answers for your submission, you must provide an answer to this first question: If this is a brand-new product, state the date on which it was released. If this is a new version of an existing product, state the date on which the update was released:

    Mosan was officially launched on October 13, 2018, and is going to update the new application version on June 30, 2023.

  4. If you are providing written answers for your submission, you must provide an answer to this second question: Describe the features, functions, and benefits of the nominated product or service (up to 350 words):

    Total 343 words used.

    Timor-Leste attained independence in 2002. Since then, Timor-Leste has significantly advanced in some crucial areas, however, big issues still exist. More than 40% of the population still lives in poverty. Besides, Timorese people have little access to contemporary sectors including finance, e-commerce, and education, and technology, etc. Nevertheless, Mosan is always inspired by these challenges to be the groundbreaker in Timor Leste.

    Born to make a better change!

    Mosan’s utmost goal is to make life easier. Mosan consists of various functions that offer a series of essential daily services with unlimited promotion and reasonable cost. Firstly, Mosan is the pioneering business in popularizing and streamlining the money transfer service. Currently, the banking system is still underdeveloped, and most banks concentrate in the capital city.  According to the 2022 Timor Leste Bank Centrak report, there are only 138 ATMs and 260 PoS in Timor Leste in 2022

    With the advent of Mosan application and services, the financial services have completely changed. Customers now can transfer and receive money on Mosan application with a few simple steps and the cheapest fee. Additionally, those who do not own a smartphone can go directly to one of the 2100 Mosan agents, which enables customers to transfer, receive and withdraw money conveniently all over the country.

    Moreover, customers can enjoy many other useful functions with Mosan such as buying pulsa (phone card) with up to 5% cashback, buying data package with up to 100% discount, buying electricity with 3% bonus and paying bill via QR code with up to 15% cashback.

    Besides, Mosan is willing to cooperate with governmental organizations in social activities with a view to improving Timorese life. To be specific, Mosan coordinates with MSSI (Ministry of Social Solidarity and Inclusion) to provide 50.000 people with cash assistance via Mosan as the transferring method.

    In addition, Mosan was created to boost digital transformation in Timor Leste. In the context of lack of applications in many sectors, namely, finance, education, ecommerce, Mosan is the leading application which motivates other sectors to kick-off their digital transformation journey.

  5. If you are providing written answers for your submission, you must provide an answer to this third question: Outline the market performance, critical reception, and customer satisfaction with the product or service to date. State monetary or unit sales figures to date, if possible, and how they compare to expectations or past performance. Provide links to laudatory product or service reviews. Include some customer testimonials, if applicable (up to 350 words):

    Total 270 words used.

    Turn challenges into opportunities!

    Although there exists a variety of objective obstacles, Mosan keeps moving to reach every achievement every day. After 5 years since the start of the trial license (2018), the number of wallet subscribers reached around 280.000 subscribers with a 2.100 agent network and more than 800 merchants that accept payment via Mosan. Undoubtedly, Mosan services cover Timor Leste to every sucu (village), which popularizes the money transfer service within the country. In addition, the average cash flow in the wallet system reaches $7.5 million/month.

    In terms of communication results, Mosan has become the top-of-mind brand in the Fintech industry in Timor Leste. Mosan gradually educates Timorese people to use the digital payment method. Moreover, Mosan focuses on developing the IMC campaigns to make a social impact on Timorese people. In Independence Day 2023, Mosan introduced the “Change for the better” campaign to make people realize how Timor Leste has changed after 21 years of independence and motivate them not to give up but believe in the power of change and change for the better.

    Mosan has received various valuable recognition from experts, organizations, and customers over the years. Mosan was honored by the Central Bank for the excellent contribution to the development of Financial Sector in 2019, which proves the satisfaction of domestic professionals and government organizations.

    Importantly, Mosan gains more and more popularity and contentment among customers. In a Mosan monthly research on 150 random customers, around 94% of them reported that they are satisfied with Mosan services. Outstandingly, 100% of customers are willing to introduce Mosan to their family and friends.

  6. You have the option to answer this final question: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):

    Total 72 words used.

Attachments/Videos/Links:
Mosan Application - Timor-Leste's top fintech solution
JPG ATMs_and_PoS_in_Timor_Leste_in_2022.jpg
JPG Mosan_active_agents_in_Timor_Leste.jpg
JPG Mosans_outstanding_achievements.jpg
URL Mosan company profile
URL Mosan application demonstration video
URL The award from Central Bank
URL The video of Independence Day campaign
URL Mosan website
URL Mosan fanpage review