Figure 2
The flowchart is shown in three sections arranged horizontally from left to right. On the far left, a rounded box labeled “FINTECH POTENTIAL IN VIETNAM (Input)” lists “Alt-Finance,” “Transactions,” “Alt-Investments,” “Banking BackOffice,” “Fin Inclusion,” “Crypto,” and “B.P. Integration.” A right-pointing arrow connects the left box to a large central rectangle labeled “SERVICE ECOSYSTEM, Resource integration and co-creation activities,” which consists of four internal sections labeled “MACRO,” “MESO,” “Data Protection and Security,” and “MICRO (Output).” The “MACRO” and “MESO” sections are arranged vertically with the “MACRO” section on the top. The “MACRO” section contains three bullet points: “Demographics,” “Underserved market,” and “State of Technology.” Below it, the “MESO” section is present and has one bullet point labeled “Regulatory environment.” A curly bracket spans from “MACRO” to “MESO” on the left. A box labeled “Data Protection and Security” is present to the right of the “MACRO” section. A double-headed horizontal arrow connects “MESO” to the “MICRO (Output)” section, which is present to the right. “MICRO (Output)” is labeled “Fintech diffusion by service domain (details in Table 0 Pounds).” A downward arrow from “Data Protection and Security” points to the double-headed horizontal arrow connecting “MESO” to the “MICRO (Output)” section. A thick right arrow leads from this central rectangle to a rounded box on the far right labeled “UNBALANCED PENETRATION OF FINTECH IN VIETNAM (OUTCOME),” which includes two bullet points, “Broad but shallow financial inclusion mostly through payments and proliferation of e-wallets” and “Limited Bank Fintech collaboration and slow bank digitalisation.”Fintech diffusion in Vietnam model. Source: Authors’ own work