05 Mar

Healthcare payments in India – A $60b new frontier

In the past decade, health spend per capita in India has tripled, while the overall share of health funded by the government has only increased by 4%. To frame in the Indian healthcare payments problem, this means that in a country of 1.3 billion people, more Indians are left footing heftier medical bills. With commercial insurance penetration hovering at a mere 2-3%, those bills are predominantly paid out-of-pocket.

“Modicare”, the Indian government’s recently announced scheme to provide health coverage for India’s poorest families, would only alleviate out-of-pocket costs for roughly a third of the population.

If unaddressed, the healthcare payments problem is unsustainable for several reasons. First, the rise of chronic and lifestyle diseases will further exacerbate healthcare demand and costs. Second, high out-of-pocket spend puts Indian families at risk. The Health Ministry of India estimates that over 63 million people are pushed into poverty each year due to catastrophic health expenses. Finally, a lack of primary risk-bearing entity, either public or private, means there is little financial incentive to drive patients toward preventative and cost-effective care.

Traditional Insurers – growth curbed by the lack of data

We estimate that Indians currently spend over $60B on out-of-pocket healthcare expenses. Given this staggering figure, why hasn’t private insurance risen to meet what is clearly an unmet need in the market? The answer essentially boils down to data – or rather lack thereof it.

Data is the lifeblood of insurers because it enables them to effectively underwrite and pay out claims. Yet in India, where there are over 196,000 hospitals spread over 29 states, there is no centralized nor digitized equivalents of interoperability, electronic health records, or health information exchanges. Furthermore, the vast majority of healthcare providers have paper-based records. Data is nearly inaccessible to insurers. This is in part why the insurance plans that currently exist typically only cover inpatient care within a narrow network of high-end hospital chains that have developed more sophisticated electronic systems.

Start-ups are leading the charge to fill the data gap

Despite these challenges, tech-enabled start-ups in India are building out unique solutions to develop healthcare data infrastructure, laying the foundation for broader healthcare coverage.

For example, e-pharmacy players such as Lifcare and Pharmeasy are building vertically-integrated pharmacies enabled by data and technology. Their business models leverage e-prescription capabilities to accumulate data on patient health and enable more convenient access to drugs. As these players scale, their data and care delivery capabilities could serve as key building blocks for pharmacy benefits management, or enabling new insurance models such as pharmacy-based outpatient primary care coverage (OPD).

Other start-ups are taking the approach of building out technology-enabled provider networks to lay the groundwork for insurance. Practo leverages its practice management suite embedded in over 100,000 provider offices to enable sharing of patient records and processing of claims for insurance-covered visits. mFine, headed by former Myntra leadership, is partnering with the most trusted clinics and hospitals within a region to create hyperlocal care delivery networks. mFine members pay a subscription fee to gain preferential access to services at mFine’s partner hospitals, as well as access to outpatient services provided on mFine’s platform such as tele-consults and medication delivery.

Challenges with Scale, Integration, and Incentives Lie Ahead

The quest to enable broader health insurance coverage by these start-ups is, however, fraught with challenges. E-pharmacy players will need to integrate data and workflow with other providers, such as physicians and labs, in order to develop full underwriting capabilities for outpatient coverage. Provider network development, on the other hand, is a far more data-rich strategy but one that is operationally challenging to scale geographically, especially beyond the largest cities.

Consumer behaviour and market education also need to be addressed. Many Indians don’t feel the need for insurance, despite the rising costs of healthcare. The concept of paying in advance for services that may or may not be rendered is challenging in a largely pay-as-you-go environment. As a result, some companies are offering pre-paid packages covering a set amount of services at a discount, or health savings plans for expensive planned procedures, with the goal of converting these customers to insurance products down the road.

Finally, the insurance business model thrives when provider and payer incentives are aligned toward delivering quality, cost effective care. However in India’s fee-for-service dominated system, aligning incentives can prove difficult (as it has in other historically privatized healthcare systems like the US). Expect more innovative care and payment models, such as direct primary care and outcomes-based reimbursement, to evolve as insurance gains broader adoption in coming years.

We predict that the Indian healthcare market will move to a model of private insurance over time, starting with modularized coverage such as hospitalization benefits, outpatient benefits, defined packages, and savings plans for episodes of care. As data becomes more ubiquitous, helped by technology start-ups, private out-of-pocket spend will increasingly shift toward commercial insurance models. We expect that by 2020 private spend will grow to $100B, and 10% of this spend will have migrated from out-of-pocket to insured coverage.

Written by Hailey Hu, an Investor at B Capital Group.

17 Feb

Open Banking: What does it mean for banks & do they like it?

A giant change is coming for banking in the UK. Not Brexit, but Open Banking, the new directive that will require the largest UK banks to give third parties access to their data, down to the level of current account transactions.

The directive will come into force in January 2018 – it’s part of the second European Payment Services Directive, better known as PSD2 – and such is the scale of the change that finalising it has proved difficult. Even at this late stage many of the exact details are still being worked out by Open Banking Ltd, the group responsible for implementation.

Now, for the first time, it’s possible to get a glimpse of what Open Banking will look like in practice, thanks to a £5 million prize funded by the UK banks.

READ NEXT
Open Banking starts next week. Meet the man making it happen

Open Banking starts next week. Meet the man making it happen
By ROWLAND MANTHORPE

Innovation foundation Nesta has released the names of the 20 successful entrants to its Open Up Challenge, which is funded by Barclays, Lloyds, Santander, HSBC, Royal Bank of Scotland and three Northern Irish banks. The list (which is published in full below) includes an impressive collection of well-known fintech startups, including challenger bank Tide, due diligence service DueDil and business loans firm (and former Wired Money Startup winner) Iwoca.

Launched in February 2017, the Open Up Challenge is intended to inspire the creation of apps and tools for small businesses (SMEs). Along with cash awards, Nesta enticed fintechs by offering access to a huge trove of anonymised SME banking transactions, giving them a chance to experiment with Open Banking-style datasets in advance of the system’s launch.

Iwoca is using this data to build a product that allows businesses to sign up to its services directly from their business bank account – a process that, at present, requires approval from the bank. The business loans startup also plans to start offering bank loan products through its platform, using newly-available information on which companies are eligible for loans. (This kind of banking metadata will also be released as part of Open Banking, along with information, for example, about the location of ATMs.)

“Open Banking gives us the opportunity to access a hugely rich source of real-time data,” Christophe Rieche, CEO of Iwoca, tells WIRED. “It’s liberalising access to data that’s previously been monopolised by banks which have failed to innovate.”

DueDil is using its access to the data to make “an online due diligence passport” for businesses looking to prove their financial credentials. The six-year-old business lets companies do due diligence on each other by building profiles of private firms. But to get data it has to trawl through open public sources such as Companies House, sift through companies’ websites and buy data from credit ratings agencies.

“Inclusion of Open Banking data provides a key component in the form of up-to-date financial health indicators, adding context to existing data and enabling better, faster, more confident decision-making,” DueDil co-founder Damian Kimmelman tells WIRED.

The 20 successful entrants receive a £50,000 cash grant, followed by the opportunity to compete for further prizes of £3.5m. Neither the funders nor Nesta takes equity in the finished products, which will compete for a final prize pot of £2m in September 2018.

“The quantity and quality of the interest we’ve had in the Challenge shows just how seriously fintechs are taking open banking,” says Chris Gorst, Open Up Challenge prize lead at Nesta. “Financial services are intrinsically about data, [yet] in the UK, huge quantities of customer data sit siloed within the handful of banks that provide the overwhelming majority of consumer and small business current accounts.

“This helps explain the paradox that, while finance creates more customer data than perhaps any other industry, there is relatively little diversity in product offerings and the industry has little reputation for customer-focused innovation.”

11 Feb

Báo cáo quản trị Doanh nghiệp – Công nghệ Microsoft Power Bi

Nhóm Báo cáo tài chính  
103/TNDN: Tờ khai quyết toán thuế TNDN (TT 28)Tờ khai quyết toán thuế TNDN (TT 119)
203/TNDN: Tờ khai quyết toán thuế TNDN (TT 156)Tờ khai quyết toán thuế TNDN (TT 119)
3B01-DN: Bảng cân đối kế toánB01-DNN: Bảng cân đối kế toán
4B02-DN: Báo cáo kết quả hoạt động kinh doanhB02-DNN: Báo cáo kết quả hoạt động kinh doanh
5Tình hình thực hiện nghĩa vụ với nhà nướcBảng cân đối tài khoản
6B03-DN: Báo cáo lưu chuyển tiền tệ (Theo phương pháp trực tiếp)B03-DN: Báo cáo lưu chuyển tiền tệ (Theo phương pháp trực tiếp)
7B09-DN: Thuyết minh báo cáo tài chínhB09-DN: Thuyết minh báo cáo tài chính
8Bảng cân đối tài khoản (Mẫu số dư hai bên)F01-DNN: Bảng cân đối tài khoản
9Bảng cân đối tài khoảnBảng cân đối tài khoản
10Bảng cân đối tài khoản (Mẫu rút gọn)F01-DNN: Bảng cân đối tài khoản
Nhóm Sổ kế toán  
1Sổ cái tài khoản 007Sổ cài tài khoản
2Sổ cái tài khoảnSổ cái tài khoản
3Sổ cái tài khoản (Mẫu quản trị)Sổ cái tài khoản
4Bảng tổng hợp phát sinh tài khoảnBảng tổng hợp phát sinh tài khoản
5Sổ chi tiết các tài khoảnSổ chi tiết các tài khoản theo đối tượng
6Bảng chi tiết phát sinh đối ứngSổ nhật ký chung
7Bảng tổng hợp chứng từ gốcTheo yêu cầu
8Bảng tổng hợp chứng từ gốc cùng loại (Ghi Có TK)Bảng tổng hợp chứng từ gốc cùng loại (Ghi Có TK)
9Bảng tổng hợp chứng từ gốc cùng loại (Ghi Nợ TK)Bảng tổng hợp chứng từ gốc cùng loại (Ghi Nợ TK)
10S01-DN: Nhật ký – Sổ cáiTheo yêu cầu
11S02a-DN: Chứng từ ghi sổ (Mỗi chứng từ một trang)S02a-DN: Chứng từ ghi sổ
12S02a-DN: Chứng từ ghi sổS02a-DN: Chứng từ ghi sổ
13S02a-DN: Chứng từ ghi sổ (Mẫu tổng tiền)S02a-DN: Chứng từ ghi sổ
14S02b-DN: Sổ đăng ký chứng từ ghi sổ 
15S02c1-DN: Sổ cái tài khoản (Hình thức Chứng từ ghi sổ)S02c1-DN: Sổ cái tài khoản (Hình thức Chứng từ ghi sổ)
16S03a-DN: Sổ nhật ký chungSổ nhật ký chung
17S03b-DN: Sổ cái tài khoản (Hình thức Nhật ký chung)S03b-DN: Sổ cái tài khoản (Hình thức Nhật ký chung)
18S06-DN: Bảng cân đối số phát sinhBảng cân đối tài khoản
19S03a2-DN: Sổ nhật ký chi tiềnSổ chi tiết quỹ tiền mặt
20S31-DN: Sổ chi tiết thanh toán với người mua (Người bán)Sổ chi tiết tài khoản theo đối tượng
21S32-DN: Sổ chi tiết thanh toán với người mua (Người bán) bằng ngoại tệSổ theo dõi thanh toán bằng ngoại tệ
22S33-DN: Sổ theo dõi thanh toán bằng ngoại tệSổ theo dõi thanh toán bằng ngoại tệ
23S34-DN: Sổ chi tiết tiền vaySổ chi tiết tài khoản theo đối tượng
24Sổ chi tiết tiền vay theo ngoại tệSổ theo dõi thanh toán bằng ngoại tệ
25S38-DN: Sổ chi tiết các tài khoảnSổ chi tiết tài khoản theo đối tượng
26Sổ chi tiết các tài khoản (Mẫu quản trị)Sổ chi tiết các tài khoản
27S51-DN: Sổ theo dõi chi tiết nguồn vốn kinh doanh (TK 411)Theo yêu cầu
28S03a1-DN: Sổ nhật ký thu tiềnSổ chi tiết quỹ tiền mặt
Nhóm báo cáo Ngân sách  
1Tổng hợp theo tài khoản và mục chiChi tiết phát sinh tài khoản theo đơn vị và khoản mục chi phí
2Tổng hợp theo mục chi và tài khoảnChi tiết phát sinh tài khoản theo đơn vị và khoản mục chi phí
3Tổng hợp theo mục thu và tài khoảnTheo yêu cầu
4Báo cáo tình hình cấp phát và sử dụng ngân sáchTheo yêu cầu
5Bảng dự toán chiBảng dự toán chi
6Báo cáo tình hình thu ngân sáchTheo yêu cầu
7Báo cáo tình hình thu ngân sách theo phòng banTheo yêu cầu
8Báo cáo tổng hợp tình hình thu, chi ngân sáchTheo yêu cầu
9Báo cáo tình hình sử dụng ngân sách theo phòng banTình hình chi phí thực hiện so với dự toán
Nhóm báo cáo Quỹ  
1Sổ chi tiết tiền mặt tại quỹ bằng ngoại tệSổ kế toán chi tiết quỹ tiền mặt
2Sổ nhật ký chi tiềnSổ chi tiết quỹ tiền mặt
3S07-DN: Sổ quỹ tiền mặtSổ quỹ tiền mặt
4S07-DN: Sổ quỹ tiền mặt (Mẫu quản trị)Sổ quỹ tiền mặt
5S07a-DN: Sổ kế toán chi tiết quỹ tiền mặtSổ kề toán chi tiết quỹ tiền mặt
6Sổ nhật ký thu tiềnSổ chi tiết quỹ tiền mặt
Nhóm báo cáo Ngân hàng  
1S08-DN: Sổ tiền gửi ngân hàngSổ tiền gửi ngân hàng
2Sổ tiền gửi ngân hàng (Mẫu quản trị)Sổ tiền gửi ngân hàng
3Sổ chi tiết tiền gửi ngân hàng bằng ngoại tệSổ tiền gửi ngân hàng
4Bảng kê số dư ngân hàngBảng kê số dư ngân hàng
5Bảng đối chiếu với ngân hàngTheo yêu cầu
Nhóm báo cáo Mua hàng  
1Danh sách nhà cung cấpDanh mục nhà cung cấp
2Biên bản đối chiếu & xác nhận công nợ phải trảTheo yêu cầu
3Bảng cân đối phát sinh công nợ phải trảTổng hợp công nợ phải trả
4Báo cáo nợ phải trả quá hạnChi tiết công nợ phải trả theo hóa đơn
5Tổng hợp công nợ phải trả theo nhân viênTổng hợp công nợ phải trả theo nhân viên
6Chi tiết tuổi nợ phải trảChi tiết công nợ phải trả theo hóa đơn
7Báo cáo phân tích tuổi nợ đến hạn theo nhà cung cấpChi tiết công nợ phải trả theo hóa đơn
8Báo cáo phân tích tuổi nợ quá hạn theo nhà cung cấpChi tiết công nợ phải trả theo hóa đơn
9Báo cáo tổng hợp mua hàng theo nhân viên và nhà cung cấpTheo yêu cầu
10Báo cáo chi tiết tình hình hàng mua trả lại theo nhân viên và mặt hàngSổ chi tiết mua hàng
11Báo cáo chi tiết hàng mua giảm giá theo nhà cung cấp và hóa đơnSổ chi tiết mua hàng
12Báo cáo Sổ chi tiết đơn mua hàng theo ngày giao hàngTình hình thực hiện đơn mua hàng
13Báo cáo chi tiết hàng mua trả lại theo nhà cung cấp và hóa đơnSổ chi tiết mua hàng
14Báo cáo chi tiết hàng mua giảm giá theo nhà cung cấp và mặt hàngSổ chi tiết mua hàng
15Báo cáo chi tiết hàng mua trả lại theo nhà cung cấp và mặt hàngSổ chi tiết mua hàng
15Báo cáo chi tiết tình hình thực hiện đơn mua hàngTình hình thực hiện đơn mua hàng
16Sổ chi tiết mua hàng theo nhân viên và nhà cung cấpSổ chi tiết mua hàng (Nhóm theo nhân viên, nhà cung cấp)
17Nhật ký hàng mua giảm giáXem trên danh sách hàng mua giảm giá
18Báo cáo chi tiết tình hình hàng mua giảm giá theo mặt hàngSổ chi tiết mua hàng
19Báo cáo tổng hợp tình hình mua hàng, chiết khấu, trả lại, giảm giá theo nhân viên và mặt hàngTổng hợp mua hàng
20Báo cáo tổng hợp tình hình hàng mua giảm giá theo nhà cung cấp và mặt hàngTổng hợp mua hàng
21Hóa đơn mua hàng chưa thanh toánChi tiết công nợ phải trả theo hóa đơn
22Báo cáo tình hình thực hiện đơn mua hàng theo ngày giao hàngTình hình thực hiện đơn mua hàng
23Báo cáo tình hình thực hiện đơn mua hàng theo nhân viênTình hình thực hiện đơn mua hàng
24Báo cáo tình hình thực hiện đơn mua hàng theo mặt hàngTình hình thực hiện đơn mua hàng
25Sổ chi tiết mua hàng theo nhân viênSổ chi tiết mua hàng
26Sổ chi tiết mua hàngSổ chi tiết mua hàng
27Sổ chi tiết mua hàng theo nhà cung cấpSổ chi tiết mua hàng
28Sổ chi tiết mua hàng theo nhà cung cấp và mặt hàngSổ chi tiết mua hàng
29Sổ chi tiết mua hàng theo mặt hàng và nhà cung cấpSổ chi tiết mua hàng
30Sổ chi tiết mua hàng theo mặt hàng và nhân viênSổ chi tiết mua hàng
31Sổ chi tiết mua hàng theo mặt hàngSổ chi tiết mua hàng
32Sổ chi tiết mua hàng theo đơn mua hàngSổ chi tiết mua hàng
33Báo cáo chi tiết tình hình hàng mua giảm giá theo nhân viên và mặt hàngSổ chi tiết mua hàng
34Báo cáo chi tiết tình hình mua hàng, chiết khấu, trả lại, giảm giá theo nhân viên và mặt hàngSổ chi tiết mua hàng (Nhóm theo nhân viên, mặt hàng)
35Báo cáo tổng hợp tình hình mua hàng, chiết khấu, trả lại, giảm giá theo mặt hàngTổng hợp mua hàng
36Bảng kê mua hàngSổ chi tiết mua hàng
37Nhật ký đơn mua hàngXem trên danh sách đơn mua hàng
38Nhật ký đơn mua hàng (Mẫu 02)Xem trên danh sách đơn mua hàng
39Nhật ký hàng mua trả lại, giảm giáMẫu này chưa đáp ứng
40Nhật ký hàng mua trả lạiXem trên danh sách Trả lại hàng mua
41Thống kê đơn mua hàng còn nợTình hình thực hiện đơn đặt hàng
42Tổng hợp mua hàng theo nhân viênTổng hợp mua hàng theo mặt hàng và nhân viên
43Tổng hợp mua hàng theo nhà cung cấpTổng hợp mua hàng
44Tổng hợp mua hàng theo nhà cung cấp và mặt hàngTổng hợp mua hàng
45Tổng hợp mua hàng theo đơn mua hàngTình hình thực hiện đơn mua hàng
46Báo cáo chi tiết tình hình hàng mua trả lại theo mặt hàngSổ chi tiết mua hàng
47Báo cáo tổng hợp tình hình hàng mua trả lại theo nhà cung cấp và mặt hàngTổng hợp mua hàng
48Báo cáo tổng hợp mua hàng theo mặt hàng và nhân viênTổng hợp mua hàng theo mặt hàng và nhân viên
49S03a3-DN: Sổ nhật ký mua hàngSổ nhật ký mua hàng
50Sổ nhật ký mua hàng (Mẫu quản trị)Sổ nhật ký mua hàng
51Chi tiết công nợ phải trảChi tiết công nợ phải trả nhà cung cấp
52Chi tiết công nợ phải trả theo ngoại tệChi tiết công nợ phải trả nhà cung cấp
53Chi tiết công nợ phải trả theo ngoại tệ (Chi tiết theo mặt hàng)Chi tiết công nợ phải trả nhà cung cấp
54Chi tiết công nợ phải trả theo nhân viênChi tiết công nợ phải trả nhà cung cấp theo nhân viên
55Chi tiết công nợ phải trả theo mặt hàngChi tiết công nợ phải trả nhà cung cấp
56Chi tiết công nợ phải trả theo hóa đơnChi tiết công nợ phải trả theo hóa đơn
57Chi tiết công nợ phải trả theo chứng từ và tài khoảnChi tiết công nợ phải trả theo hóa đơn
58Chi tiết công nợ phải trả theo hóa đơn (Nhóm theo tài khoản)Chi tiết công nợ phải trả theo hóa đơn
59Tổng hợp công nợ phải trả (Cộng theo nhóm)Tổng hợp công nợ phải trả (Nhóm theo nhóm NCC)
60Báo cáo tổng hợp tình hình công nợ nhà cung cấp theo nhân viênTổng hợp công nợ phải trả theo nhân viên
61Tổng hợp công nợ phải trả theo ngoại tệTổng hợp công nợ phải trả
62Tổng hợp công nợ phải trả theo ngoại tệ (Cộng theo nhóm)Tổng hợp công nợ phải trả
63Tổng hợp công nợ phải trả theo ngoại tệ (Quy đổi)Tổng hợp công nợ phải trả
64Tổng hợp công nợ phải trả theo ngoại tệ (Quy đổi, cộng theo nhóm)Tổng hợp công nợ phải trả
65Tổng hợp công nợ phải trảTổng hợp công nợ phải trả
66Tổng hợp tuổi nợ phải trả 
67Tổng hợp tuổi nợ phải trả (Cộng theo nhóm)Chi tiết công nợ phải trả theo hóa đơn
68Báo cáo tổng hợp công nợ nhà cung cấp theo tuổi nợ đến hạnTheo yêu cầu
69Báo cáo tổng hợp công nợ nhà cung cấp theo tuổi nợ quá hạnTheo yêu cầu
70Tổng hợp mua hàng theo mặt hàngTổng hợp mua hàng
71Tổng hợp mua hàng theo mặt hàng và nhà cung cấpTổng hợp mua hàng ( theo mặt hàng và NCC)
Nhóm báo cáo Bán hàng  
6Bảng kê công nợ lệ phí phải thuTheo yêu cầu
22Báo cáo ngày thanh toán theo khách hàngTheo yêu cầu
26Báo cáo so sánh số lượng bán của từng khách hàng theo thời gian( theo tháng, quý)Theo yêu cầu
45Chi tiết bán hàng theo khoTheo yêu cầu
65Chi tiết đơn đặt hàng theo khách hàng 
71Nhật ký đơn đặt hàngCó thể xem trên danh sách đơn hàng,nhưng không có cột tài khoản Nợ- Có
73Nhật ký hàng bán giảm giáXem trên danh sách hàng giảm giá
74Nhật ký hàng bán trả lạiXem trên danh sách hàng bán trả lại
75Nhật ký hàng bán trả lại, giảm giá 
87Sổ theo dõi chính sách giá bánHiện nay xem trên danh sách chính sách giá
97Tổng hợp bán hàng theo kho và mặt hàngTheo yêu cầu
103Tổng hợp bán hàng theo nhân viên và khách hàngTheo yêu cầu
120Tổng hợp tuổi nợ phải thu (Cộng theo nhóm)SME 2017 phải xem 2 báo cáo phân tích công nợ, Theo yêu cầu báo cáo nào thể hiện được chưa đến hạn bao nhiêu, quá hạn từ 1-30 ngày, 31-60 ngày… là bao nhiêu; Theo yêu cầu cột só dư đầu kỳ
Báo cáo Quản lý hóa đơn  
1Báo cáo tình hình sử dụng hóa đơn (Mẫu quản trị)Theo yêu cầu
Báo cáo Kho  
4Liệt kê phiếu xuất kho chưa thực hiện xuất hóa đơnChỉ biết được phiếu xuất kho nào chưa lập chứng từ bán hàng, xem trên danh sách nhập – xuất kho
27Sổ chi tiết vật liệu, dụng cụ, sản phẩm hàng hóa (Có giá bán)Theo yêu cầu
30Tình hình xuất kho vật tư hàng hóa theo nhân viên và mặt hàngTheo yêu cầu
33Sổ chuyển kho nội bộTheo yêu cầu
Báo cáo TSCĐ  
Báo cáo tiền lương  
1Danh sách cán bộDanh sách nhân viên
201a-LĐTL: Bảng chấm côngTheo yêu cầu
10Báo cáo tổng hợp lương cán bộTheo yêu cầu
Báo cáo Thuế  
1Bảng kê bán lẻ hàng hóa, dịch vụ trực tiếp cho người tiêu dùngTheo yêu cầu
201/PHXD: Tờ khai phí xăng dầuTheo yêu cầu ==> Bỏ theo thông tư mới
501-1/GTGT: Bảng kê bán ra thuế GTGT (TT 156)Theo TT 119 không phải làm tờ khai này
6Sổ theo dõi thuế GTGT (Mẫu quản trị)Chưa
702/GTGT: Tờ khai thuế GTGT dành cho dự án đầu tư (TT60)Theo TT 119 không phải làm tờ khai này
901A/TNDN: Tờ khai thuế thu nhập doanh nghiệp tạm tính (TT60)Theo TT 119 không phải làm tờ khai này
1001A/TNDN: Tờ khai thuế thu nhập doanh nghiệp tạm tínhTheo TT 119 không phải làm tờ khai này
1101B/TNDN: Tờ khai thuế thu nhập doanh nghiệp tạm tínhTheo TT 119 không phải làm tờ khai này
1201B/TNDN: Tờ khai thuế thu nhập doanh nghiệp tạm tính (TT60)Theo TT 119 không phải làm tờ khai này
1301/TNDN: Bảng kê thu mua hàng hóa, dịch vụ mua vào không có hóa đơnTheo TT 119 không phải làm tờ khai này
1404/GTGT: Tờ khai thuế giá trị gia tăng trực tiếp trên doanh thu (TT 156)Theo TT 119 không phải làm tờ khai này
1604-1/GTGT: Bảng kê bán ra thuế GTGT trực tiếp trên doanh thu (TT 156)Theo TT 119 không phải làm tờ khai này
1805/GTGT: Tờ khai thuế GTGTTheo yêu cầu
2101-1/GTGT: Bảng kê bán ra thuế GTGT (TT60)Theo TT 119 không phải làm tờ khai này
2201-2/GTGT: Bảng kê mua vào thuế GTGT (TT60)Theo TT 119 không phải làm tờ khai này
2401-2/GTGT: Bảng kê mua vào thuế GTGT (TT 156)Theo TT 119 không phải làm tờ khai này
2601-3/GTGT: Bảng kê hàng hóa, dịch vụ được áp dụng thuế suất thuế GTGT 0%Theo TT 119 bỏ mẫu này
2701/GTGT: Tờ khai thuế giá trị gia tăng (TT60)Theo TT 119 không phải làm tờ khai này
2901/GTGT: Tờ khai thuế giá trị gia tăng (TT 156)Theo TT 119 không phải làm tờ khai này
3201-7/GTGT: Bảng kê số lượng xe ô tô, xe hai bánh gắn máy bán raTheo TT 119 bỏ mẫu này
33Phụ lục 01-4A/GTGT: Bảng phân bổ thuế GTGT đầu vào được khấu trừ thángTheo TT 119 bỏ mẫu này
34Phụ lục 01-4B/GTGT: Bảng phân bổ thuế GTGT đầu vào được khấu trừ nămTheo TT 119 bỏ mẫu này
37Báo cáo tình hình sử dụng hóa đơn (Mẫu quản trị)Theo yêu cầu
Báo cáo Giá thành  
3Bảng tổng hợp so sánh tổng quát định mức vật tưTheo yêu cầu
6Tổng hợp chi phí sản xuất theo yếu tốTheo yêu cầu
12Báo cáo tiến độ thực hiện công việcTheo yêu cầu
13Chi tiết chi phí sản xuất theo yếu tốTheo yêu cầu
25Chi tiết công nợ theo nhân viên và đối tượng tập hợp chi phíTheo yêu cầu
28Chi tiết công nợ theo đối tượng tập hợp chi phí và nhân viên 
33Tổng hợp công nợ theo nhân viên và đối tượng tập hợp chi phíTheo yêu cầu
35Tổng hợp công nợ theo đối tượng tập hợp chi phí và nhân viênTheo yêu cầu
39Tổng hợp chi phí sản xuất theo yếu tốTheo yêu cầu
40Sổ tổng hợp tài khoản theo đối tượng tập hợp chi phí và khoản mục chi phíTheo yêu cầu
Báo cáo CCDC  
7Báo cáo chi tiết hỏng CCDCBỏ không theo dõi hỏng
Báo cáo Hợp đồng  
1Báo cáo khoản mục chi phí theo tài khoản và hợp đồng bánTheo yêu cầu
4Chi tiết hợp đồngTheo yêu cầu
5Báo cáo chi phí theo hợp đồng bán (Quản trị nội bộ) 
8Tổng hợp công nợ theo nhân viên và hợp đồngTheo yêu cầu
9Thống kê đơn đặt hàng còn nợ (Chưa sinh hợp đồng bán) 
11Tổng hợp công nợ theo hợp đồng và nhân viênTheo yêu cầu
14Chi tiết công nợ theo hợp đồng và nhân viênTheo yêu cầu
15Chi tiết tài khoản theo hợp đồng và đối tượng tập hợp chi phí 
17Sổ chi tiết theo dõi công nợ hợp đồng muaTheo yêu cầu
21Chi tiết công nợ theo nhân viên và hợp đồngTheo yêu cầu
25Sổ chi tiết tài khoản theo hợp đồng 
27Báo cáo tình hình thu hồi công nợ 

05 Feb

Tencent’s WeChat Pay is AliPay’s major rival

Chris Skinner

I’ve written a lot about Ant Financial – they’re a 30,000 word case study in my new book – mainly because they are the first payments platform to focus upon global reach for financial inclusion. That is not to say that I am ignoring the other platforms: PayPal, Stripe, PayTM and such like. In fact, one other big platform of note is WeChat Pay from Tencent.

So I was delighted to see that Steven Millward wrote a great piece on Tech in Asia about WeChat the other day. The fact is that WeChat and WeChat Pay in China is a monster but, to go global, they will have more challenges as Ant Financial has got the key partners first. In other words, imho, Ant has first mover advantage. Mind you, that has not stopped WeChat from competing effectively before, as evidenced in this timeline article from Steven.

 

7 years of WeChat

WeChat was born seven years ago. Here’s a potted history of China’s most essential app.

October 2010: In development

In a Tencent office in the southern Chinese city of Guangzhou, away from the company’s Shenzhen HQ, a small team started working on a mobile chat app.

January 21, 2011: Tencent debuts messaging app

It began quietly on this day seven years ago when Tencent – already China’s social media giant with its MSN-style QQ instant messenger and accompanying Qzone social network (with 780 million active users at the start of 2011) – made a mobile-only messaging app. It was a big break from Tencent’s very PC-era social networks and online gaming empire.

Here’s how it looked at launch, initially only on iOS:

Image credit: The Next Web

The new app was called Weixin in Chinese. There was no English name yet. The Next Web, the only major international news outlet to report the launch, transliterated the Chinese name and dubbed it “micro letters.”

China’s three telecoms companies already had online messaging apps that were proving popular, but Tencent wanted to bring down the telco barriers that existed between people. Screw the telcos: its chat app would disrupted SMS and work on any phone and mobile service.

The launch of Weixin came as Kik and WhatsApp – both released in 2010 – were gaining traction.
WeChat’s first iteration had basic features: text messaging, creating voice clips, and, sending photos.

August 2011: Adds video clips

Anyone familiar with the dizzying array of features in Tencent’s other products would have guessed that WeChat would not stay on minimalist mode for long.

Seven months after launching, WeChat added video clips and a “find nearby users” function.

With Chinese people slowly shifting from 2G to 3G, WeChat ensured that videos would be shrunk down to reduce the cost of sending them when not on wifi. A one-minute video could be condensed so that it was just 1 MB in size.

March 2012: Hits 100 million registered users

About 14 months after launching, WeChat hit a major milestone when Tencent reported it had 100 million registered users. This was before the company started revealing the number of monthly active users.

April 2012: Weixin becomes WeChat

After a year of Tech in Asia calling the app Weixin, Tencent picked an English name for it.
The move seemed to signal that the Chinese tech titan wanted to go global with its newest social network, something that the company had never done before.

Later that month, WeChat’s v4.0 update added in the Thai, Vietnamese, Indonesian, and Portuguese languages. It already had English.

June 2012: Chatting up India

Tencent pushed WeChat into India with a high-profile, celebrity-filled launch – including lots of pricey ads on Facebook. Of course, one of its ads referenced Bollywood.

The timing seemed great, as India was just about to join in the smartphone boom that was already sweeping China. But, as we now know, India’s social media addicts love Facebook and WhatsApp instead.

It was the first of many overseas fails for WeChat.

July 2012: Voice and video calls appear

The new features kept on coming.

July 2012: Alibaba tries to kill off WeChat

Seeing WeChat as an eventual threat to its ecommerce empire, Alibaba launched a WeChat-esque social app of its own.

It didn’t take off.

But Jack Ma was right to be worried about WeChat as Tencent’s wunderkid app later ventured into online shopping, in-store payments, and a number of other areas that treaded on Alibaba’s toes.

Summer of 2012: Brands invade WeChat as QR codes swamp China

By the summer of 2012, a new trend was emerging: QR codes. QR codes everywhere. They’re very evident in China to this day.

Tencent opened up WeChat to brand accounts, prompting Chinese companies and foreign brands doing business in China to leap on board, keen to interact with China’s consumers in an arena that’s more direct and intimate than the nation’s other hot social network, the Twitter-esque Weibo.

Media outlets and celebrities also rushed to get their own WeChat public accounts.

To get people to add and follow a brand account, a company could display its personalised QR code anywhere and encourage shoppers to scan it. This is how QR codes became ubiquitous in China.

September 2012: Syncs with Facebook and Twitter

By now, WeChat has animated emoji as well as downloadable sticker packs. The app also allowed users outside China to connect their Facebook and Twitter accounts in order to find more buddies to add into the messaging app.

Facebook and Twitter are blocked in China.

The move showed that while some features were largely limited to the Chinese market – like the brand accounts – Tencent was still aiming at global expansion with a slimmed-down version of WeChat.

September 2012: Hits 200 million registered users

Its userbase doubled in the space of six months.

Late 2012: Backlash begins

WEChat had gotten so big that stories of terrible things happening through the app start to make national news in China. A woman was reportedly ambushed and murdered when a man who was stalking her using WeChat’s “people nearby” feature attempted to rob her.

That feature is switched off by default.

A few months after that attack, WeChat was implicated in the trial of a sexual predator who used the same location-based function to befriend and “groom” 160 boys, some aged under 13, who were living nearby.

December 2012: BlackBerry debut

Back when BlackBerry was still clinging on to relevance, Tencent came out with WeChat for BlackBerry. It made sense as part of its expansion into new markets with lots of young phone users where BlackBerry was still hip, like Indonesia and several countries across the Middle East.

A version for the doomed BB10 came later, in July 2013.

January 2013: WeChat caught censoring users around the world

WeChat entered the global limelight in the worst possible way when it was seen censoring users around the world who entered certain politically sensitive phrases into the app.

First reported by Tech in Asia, the development caused an international backlash against the app. It highlighted growing concerns of Chinese companies “exporting censorship” as they expanded overseas.

January 2013: 300 million registered users

The app reached 300 million devotees a few days after its second birthday.

February 2013: WeChat whacks Weibo

By now, it’s clear that WeChat had become huge and was threatening to surpass Weibo as China’s favorite social app, thanks to some help from its Facebook-esque Moments section.

Charles Chao, CEO of Weibo parent company Sina, conceded to investors that users were spending less time on Weibo.

February 2013: Hollywood glam

This was another threat to Weibo, which capitalized on the appeal of interacting in real time with big-name users. Stars such as Selena Gomez, John Cusack, Maggie Q, Paris Hilton, and the Backstreet Boys signed up to WeChat so as to engage with Chinese fans.

February 2013: Chasing after Indonesia

Just as in India, however, not much came of this, despite investing heavily in an Indonesian joint venture.

May 2013: A sign of progress in Thailand

Emulating the array of features and services being built into WeChat by companies in China, a major beverage firm in Thailand allowed customers to order water deliveries from its WeChat brand account.

In the end, however, Line and Facebook won the Thai market.

May 2013: Finally reveals figure for active users

WeChat had 190 million monthly active users.

A month prior, WhatsApp revealed it had 200 million. While WeChat seemed poised to be bigger than WhatsApp at the time, the US-based app – later acquired by Facebook – would ultimately steam ahead as WeChat failed to grow substantially outside China.

July 2013: Messi shoots

Back when WeChat still seemed to have a good shot as going global, the company hired footballer Lionel Messi. He served as WeChat’s billboard ad star and brand ambassador.

Lionel Messi’s WeChat billboard spotted in Hong Kong / Photo credit: Engadget’s Richard Lai.

August 2013: Payments and gaming gamble

With its latest update, WeChat added in social gaming integration as Tencent published a handful of its own games. Third-party games were later added to support WeChat’s Games Center.

In another big move, the app offered mobile payments. It was the start of the WeChat Wallet, which can be connected with a variety of Chinese-issued credit and debit cards. In time, these online and cashless in-store payments would expand to challenge ecommerce titan Alibaba.

August 2013: Overseas users flourish

Messi scored a blinder for WeChat, boosting it to 100 million registered users outside of mainland China. However, no active user count was provided.

To this day, Tencent has never updated this figure, leaving observers wondering if anyone outside China is using WeChat any more. Spoiler alert: they’re not.

See: WeChat’s global expansion has been a disaster

August 2013: Weibo launches rival messaging app

Aaaaaaaaand that’s the last we ever heard of it.

September 2013: WeChat vending machines

During a month-long experiment, 300 WeChat-branded vending machines popped up in subway stations in parts of Beijing. After this, a few other vending machine companies incorporated cashless payments via WeChat’s Wallet – as well as Alibaba’s affiliate Alipay app. They’re now a fairly common sight across Chinese cities.

November 2013: Xiaomi sellout

Selling stuff through WeChat is now common, so Xiaomi’s first experiment turned out to be a sign of things to come. Xiaomi sold 150,000 phones in less than 10 minutes in its WeChat-only flash sale.

January 2014: Taxiiiiiii!

WeChat started 2014 with another big push into mobile commerce. The partnership with Didi Dache (which would later merge with its main rival, Kuaidi Dache, and change its name to Didi Chuxing) allowed people to hail a cab and pay for it all within WeChat, totally without using cash. The move came days after Tencent contributed to a US$100 million funding round for Didi.

March 2014: Shopping shake-up

Tencent, which had been struggling with its scattered online shopping ventures over the years, took a big and drastic step – it bought a stake in Alibaba nemesis JD. This allowed Tencent to embed JD’s store into WeChat as the main shopping area.

It’s another direct taunt against Alibaba.

May 2014: WeChat stores

Building on the WeChat Wallet for payments, Tencent now allowed any business – whether major companies or small players – to open a store inside a WeChat brand account. This was exactly what Jack Ma was so worried about.

Image credit: Tech in Asia

June 2014: SMS nearly dead

SMS was declared pretty much dead in China mid-2014, with the average person sending just one SMS per day. (One wonders how many are actually just spammers.)

June 2014: Cash transfers

WeChat’s mobile wallet got even more useful, allowing people to send money to their buddies.

Summer of 2014: Forget apps

A new trend was emerging in China that year. Startups didn’t bother to build apps and were instead launching solely as a WeChat brand account.

“Users are increasingly spending more time within WeChat, time that’s taken away from other native apps. We are positioning ourselves in front of this trend,” a startup founder told as at the time. See the story here.

September 2014: Pay for your ice cream

In-store cashless payments have been on the cards since WeChat Wallet first appeared. They appeared for real this time, in conjunction with a handful of big-name chains, including Dairy Queen.

January 2015: Big brands buy ads

WeChat started 2015 with a big move to bring in more money. The ads appeared in the WeChat Moments feed, not in personal messages, allowing people to ‘like’ and comment on the ads just like any other Moments post. BMW and Coca-Cola showed the first ads.

Screenshots via Weibo

March 2015: Half a billion

WeChat revealed it ended 2014 with 500 million users each month.

March 2015: Uber blocked

Uber’s official brand account got blocked on WeChat, revealing a dark side to WeChat’s huge influence on social media activity in China. This deletion was a big blow to the US firm’s social media marketing and visibility in the country.

Many people cried foul since Tencent has a stake in Uber archrival Didi.

Tencent maintained that Uber’s account had violated the terms of service by offering deals or “enticing” users to share things with their friends. This is considered spamming in WeChat’s terms of service agreement.

Uber returned to WeChat shortly after, only to be removed again in December.

July 2015: Censorship slammed

Being a Chinese company, Tencent has to self-censor WeChat a lot. That’s how the media works there. A report by Citizen Lab showed the full extent of the political manipulation in the messaging app when its study revealed that 1.6 percent of posts made by brand accounts – like media outlets, brands, celebrities, and small companies – get removed after being posted.

Aside from all that, the report found evidence of censorship bots that block posts before they’re even published.

January 2016: WeChat used in courts

In a further sign of how pervasive WeChat is in life in China, some judges in the country are now using WeChat’s text and photo-sharing features during trials.

February 2016: Scanning China’s tourists

WeChat went global with its in-store payments service global as it sought to tap into China’s big-spending tourists. To do this, WeChat signed up stores around the world, so long as they’re ready to scan QR codes with their cash registers in the same way that’s done in pretty much every shop in China. The company’s push focused on areas that are hotspots for the nation’s outbound travelers.

Paying for Starbucks using WeChat in China / Photo credit: Tencent

Chinese tourists spent almost US$230 billion overseas in 2015, so both WeChat and Alipay were both chasing after such a big market.

Spring 2016: Tip your blogger

Reminiscent of those “buy-me-a-coffee” buttons seen some on some blogs, WeChat allowed bloggers and media outlets to collect tips from readers.

March 2016: 700 million

WeChat revealed newest figure for active users each month.

April 2016: Fake news

Keen to avoid the ire of regulators, Tencent clamped down on the spreading of rumors within WeChat. In addition, it issued rules aimed at banning clickbait headlines and “vulgar” content, soliciting shares and follows, flushing out spam, as well as prohibiting anything that “subverts” the state.

April 2016: No slacking

WeChat made a bold move into workspaces with the launch of its office chat app. Despite the inevitable Slack comparisons, WeChat Enterprise looks very different from the US-based startup and is focused on mobile.

Yet again, Tencent treaded on Alibaba’s toes as Jack Ma’s firm already has a growing workplace messaging app.

Summer 2016: Can’t take my eyes off you

WeChat accounted for 35 percent of time Chinese people spend glued to their phones, according to data from KPCB’s Mary Meeker.

The big three tech giants – Tencent, Alibaba, Baidu, in descending order – make up 77 percent of people’s time.

October 2016: Pedal power

Just as Tencent backed ride-hailing app Didi in its early days, the social media giant placed a bet on Mobike’s dockless two-wheeler service. Mobike got a further boost a few months later as Tencent baked the service into WeChat. Bike-sharing apps soon became a new facet of the unending Alibaba-Tencent rivalry when Jack Ma’s firm funded ofo, Mobike’s closest competitor.

January 2017: App store killer

WeChat started last year with a bang by launching “mini programs,” apps which require no download or install and which work only within the popular messaging app.

Google showed off a similar feature called Instant Apps for Android in early 2016, but it has yet to launch.

Major Chinese and overseas brands – from Didi to McDonalds, Dianping to Starbucks – had instant apps ready for the big public reveal. This is McDonald’s mini program devoted to coupons:

WeChat instant apps / WeChat Mini Programs

GIF credit: Tech in Asia

WeChat instant apps are an evolution of its brand accounts, which allow for online shopping and a wide range of other services.

With so many features possible, the new mini programs posed a challenge to Apple’s App Store and to the array of Android app stores popular in China. Could this be the future of apps?

April 2017: Leave your wallet at home

China’s smartphone owners are way ahead of everyone else on the planet when it comes to paying for things with their phones.

How pervasive is that in everyday life? Well, 45 percent of WeChat users paid in stores using the messaging app’s wallet feature because they don’t even carry cash. That’s according to a recent study by Penguin Intelligence. Not bothering to carry cash is the third reason cited for using WeChat to pay for their Starbucks or groceries – the speed and ease being the top two factors.

Although WeChat Pay was growing well, Alibaba’s Alipay spin-off seemed to be the market leader, as shown by a variety of metrics.

By now, WeChat had 900 million monthly users.

April 2017: Tipping infuriates Apple

It turned out that WeChat’s move a year earlier to let users to tip bloggers infuriated Apple.
Months of behind-the-scenes negotiations between Apple and Tencent resulted in the Chinese company being forced to direct its tipping through Apple’s own in-app purchase system, allowing the California-based company to take its customary cut of the action.

May 2017: Search engine launch

Not content with trying to kill off the app stores, WeChat was now threatening to topple Baidu, China’s leading search engine, Baidu.

It lets users trawl through WeChat brand accounts, articles, music, and more. With so much content posted to WeChat each day, including news from media outlets via their brand accounts, it’s basically an equivalent to the actual internet. So WeChat’s new search function made all that easier to navigate.

Welcome to the WeChat walled garden.

See: Cashless China: shoppers to spend $15t on their phones

November 2017: Never shutting up

WeChat’s chatty devotees set a new record, sending 38 billion messages per day. That’s 25 percent more than last year.

For a sense of scale, WhatsApp peaked at 55 billion per day at around the same time.

In addition, WeChat revealed in its annual report that it saw 6.1 billion voice messages – those walkie-talkie-style missives – sent each day, alongside 205 million video and voice calls. On the content side, there were 3.5 million active brand accounts.

November 2017: Nearly a billion

In the newest data available at time of publishing, WeChat has 980 million monthly users.

November 2017: Half a trillion

And that’s not the only huge number to grapple with. The ongoing success of WeChat – albeit just in one country – propelled Tencent to its highest ever valuation, reaching US$500 billion, joining the half-trillion elite alongside Apple, Alphabet, Amazon, Facebook, and Microsoft.

December 2017: Instant games

After starting the year with its instant apps shocker, WeChat ended it by rolling out exactly the same thing for games. One called Tiao Yi Tiao – a simple jumping challenge – immediately goes viral within WeChat. It looks like this:

GIF by Tech in Asia

Dubbed “mini games,” there’s actually nothing mini about them. They’re full-fledged games – made by Tencent as well as a variety of game studios – that you can play instantly without having to download.

December 2017: ID card

In a first for WeChat, one huge Chinese city has allowed its residents to store their national identity cards inside the messaging app. The ID cards are linked to WeChat using facial recognition.

The scheme is a pilot project in the southern city of Guangzhou, which has 14 million residents.

Winter 2017: Going underground

A number of cities started allowing riders to quickly scan their phones at the gate to pay for transport. As with shops, most subway systems are accepting both WeChat and Alipay.

Photo credit: IC

Guangzhou and nearby Shenzhen were among the first large cities to make this move, which looks set to percolate across the nation in the new year. Shanghai joined the fun at the start of 2018.

January 2018: We’ve got a file on you

WeChat got a rough start to the new year with reports that the app stores users’ chats as part of a system that snooped on what people were saying.

“WeChat does not store any users’ chat history. That is only stored in users’ mobiles, computers and other terminals,” the firm said in a post. “WeChat will not use any content from user chats for big data analysis. Because of WeChat’s technical model that does not store or analyze user chats, the rumor that ‘we are watching your WeChat every day’ is pure misunderstanding.”

However, the chat app continues to filter out messages related to sensitive political topics, a practice that was first exposed in early 2013.

January 2018: Making up with Apple

After last year’s falling out over WeChat’s in-app tips for bloggers, Apple and Tencent started the year with a reconciliation.

Now that Apple has altered its App Store rules to allow people to gift money to each other in apps without the iPhone maker taking a cut, WeChat’s Allen Zhang told media that a deal had been reached for the original tips function to be reinstated.

 

03 Feb

Are you as a bank operating an innovation center?

Fun facts if your bank operates an Innovation Center (based on a Capgemini report):
– Silicon Valley is no longer the default choice
– Electronics and IT sector have added the highest number of innovation centers, taking over the top spot from manufacturing
– 1 out of every 2 newly added innovation centers are focused on arti cial intelligence
– But, are innovation centers making organizations more innovative?
PDF: https://www.capgemini.com/wp-content/uploads/2017/12/innovationcenter_infographic.pdf

21 Jan

Vietnam’s football continues miracle by reaching semifinals of U-23 Asian Cup

 

Vietnam's football continues miracle by reaching semifinals of U-23 Asian Cup

Vietnamese players celebrate during the quarterfinal match against Iraq on January 20, 2018. Photo by VnExpress/Anh Khoa.

Football fans have gone wild after Vietnam’s dramatic 5-3 penalty shootout win over Iraq.

Vietnam’s national U-23 football team qualified for the semifinals of the AFC U-23 Championship following a historic victory over Iraq on Saturday.

Against the competition’s former champion, the Vietnamese team was considered the underdog but surprisingly took the lead with an early goal. Iraq equalized with a successful penalty kick later in the first half, and a goalless second half brought the two teams to extra time, which saw each team score twice.

Vietnam finally emerged victorious in the penalty shootout after successfully converting all five shots, while one penalty shot from the Iraqi team was blocked by the Vietnamese goalkeeper.

In the remaining quarterfinal matches, Qatar beat Palestine 3-2 while Uzbekistan achieved a 4-0 victory over the reigning champion Japan and South Korea eliminated Malaysia after a 2-1 win.

Vietnam will play against Qatar while Uzbekistan will face South Korea in the semifinals next Tuesday.

This is the first time a Southeast Asian team has reached the semifinals in the history of the competition. Earlier, Vietnam also became the first Southeast Asian team to achieve a group stage victory by defeating Australia, and one of the first teams from the region to reach the quarterfinals together with Malaysia.

“We deserve the victory today,” Vietnam’s head coach Park Hang-seo said after the match, stressing that it was not just pure luck that the team has managed to go far in the competition.

“I and the players would like to thank all the fans for supporting us throughout the journey,” Park said.

Prime Minister Nguyen Xuan Phuc himself congratulated the team in a letter and wished them “health, sucess to firmly advance into the final.”

“The Vietnam U-23 team has worked hard and gifted the fans an unimaginably crazy match,” Tran Quoc Tuan, vice chairman of the Vietnam Football Federation (VFF), told VnExpress.

According to Tuan, the Ministry of Culture, Sports and Tourism and the VFF would each award the team VND1 billion ($44,000) for the achievement.

The team would also receive another VND1.2 billion from three individual fans.

Fans gone wild

Football fans across the country erupted into cheers and took to the streets to celebrate the historic victory, jamming the roads in the process. 

A fan waves the Vietnamese flag in the middle of Hang Bai Street in downtown Hanoi as other fans cheer on their motorbikes.

A fan waves the Vietnamese flag in the middle of Hang Bai Street in downtown Hanoi as other fans cheer on their motorbikes.

Thousands of fans storm through the barriers around the pedestrian zone around Hoan Kiem Lake as they celebrate Vietnams victory over Iraq in the U-23 Asian Cup.

Thousands of fans storm through the barriers around the pedestrian zone around Hoan Kiem Lake as they celebrate Vietnam’s victory over Iraq in the U-23 Asian Cup.

Celebrations around the Hoan Kiem Lake are amplified by pots and pans.

Celebrations around the Hoan Kiem Lake are amplified by pots and pans.

Ho Chi Minh City in the south is also filled with bikers waving Vietnamese flags.

Ho Chi Minh City in the south is also filled with bikers waving Vietnamese flags.

Other fans choose to wave the flags from cars.

Other fans choose to wave the flags from cars.

In Dong Nai Province in southern Vietnam, the streets are also wide awake with cheers.

In Dong Nai Province in southern Vietnam, the streets are also wide awake with cheers.

Association football is the most widely loved sport in Vietnam. However, the national teams’ poor performances in recent years have left many fans frustrated and disappointed.

 

 

20 Jan

Top fintech stories this week – 19 January 2018

Wells Fargo to scrap 800 more bank branches by 2020
Will bankers’ bonuses be affected?

Standard Chartered creates fintech investment unit
Will be led by Alex Manson, most recently the bank’s global head of transaction banking.

TCS drools over two delicious insurtech deals for $2.7bn
With M&G Prudential and Transamerica.

Nationwide wide of the mark for UK open banking launch
Well, it is the UK… where most things are late most of the time.

Fintech Lab launches insurtech accelerator in Moscow
Nine projects selected for the 12-week programme.

18 Jan

HSBC further expands cash access network in Singapore

HSBC Partners 7-Eleven to Expand Cash Access Network to 800 Touchpoints Island-wide

HSBC Singapore has announced its partnership with 7-Eleven to offer HSBC customers access to more than 300 of its stores for QuickCash withdrawals. HSBC’s partnership with 7-Eleven will expand its total cash access network by 30% to over cash 800 touchpoints island-wide.

This partnership with 7-Eleven further complements and expands HSBC’s existing fleet of ATMs including those from the ATM5 network and QuickCash participating outlets including Cold Storage, Guardian Health and Beauty and Market Place in Singapore.

Mr. Matthias Dekan, Head of Customer Value Management, HSBC Bank (Singapore) said: “Despite the push for digital payments and electronic fund transfers, cash access remains important for Singaporeans. Partnerships like this one with 7-Eleven, and other retail outlets, means cash access is available within minutes’ walk from wherever you are in Singapore.”

Credit: Hubbis.

 

18 Jan

Facebook, BlackRock, and the Case for Purpose-Driven Companies

Last week, Facebook CEO Mark Zuckerberg announced that his platform needs to change. Community feedback has shown that public content has been “crowding out the personal moments that lead us to connect more with each other,” according to Zuckerberg. As a result, the company says it will be focusing more on promoting posts from friends rather than from media outlets, thereby leading to more-meaningful social interactions.

While the long-term consequences for users, journalists, media, friendships, Facebook itself, and the future of democracy (see: fake news) are uncertain and hard to judge, there are some lessons we can draw from the announcement.

Corporate Purpose Requires a Credible Commitment

There is a lot of talk about purpose in business. Purpose-driven companies have been shown to outperform their peers over the long term. They can reap benefits because of higher employee productivity and customer loyalty and satisfaction. But purpose-driven companies are also hard to come by. Why is that? Because purpose is costly. At the very least, it requires a credible commitment to that purpose. And credible commitments are those that come at a cost; in the absence of a cost, all companies can claim that they are purpose-driven, and as a result the commitment stops being credible.

The stock market reacted negatively to the announcement Friday, costing Facebook almost 5% of its market capitalization, or about $27 billion. It personally cost Zuckerberg more than $2 billion — hence the credible commitment to Facebook’s purpose to “develop the social infrastructure to give people the power to build a global community that works for all of us.” The fact that Facebook would undertake such a commitment knowing full well the costs is one more data point suggesting that Facebook could well turn out to be a purpose-driven company, and another lesson for business leaders that building purpose-driven organizations requires more than cheesy statements and “goodwashing” efforts.

Investors Are Paying Attention

The announcement came because of increasing pressure on Facebook to understand and manage its impact on society. Critics argue that the rise of fake news and propaganda on social media is threatening democracy. This is another indication that developments in society represent financially material events for a company’s performance, thereby raising the need for high-quality investor-relevant data that assesses a company’s efforts to mitigate negative impacts and increase its positive impact.

An increasing number of investors are therefore integrating environmental, social, and governance (ESG) data when they make investment decisions. Research has already shown that firms improving their performance in material ESG dimensions subsequently outperform their peers.

Short-termism

Zuckerberg announced that this is a move that could well have short-term financial costs but long-term benefits for the business. The former seems to have outweighed the latter in the market’s reaction to the announcement, with the stock declining 5% same day.

Many business leaders have talked about the phenomenon of short-termism, and research has documented that short-termism holds back good corporate intentions. But the idea that business leaders are at the mercy of a market obsessed with short-term results is dubious. In most cases, business leaders themselves are at fault by failing to properly communicating the long-term benefits of such actions, which, if done well, build trust in leadership. Promising long-term benefits is not enough. Time-bound targets based on metrics and a clear strategic plan could do the trick, though. Unfortunately, most business leaders still do not walk the talk when it comes to being long-term-oriented.

That may change as more investors signal their commitment to long-termism and corporate purpose. If Facebook was last week’s indication that corporate leaders care about more than short-term profits, this week’s comes from BlackRock chair and CEO Larry Fink, who on Tuesday sent a letter to the companies his firm invests in demanding that “every company must not only deliver financial performance, but also show how it makes a positive contribution to society.” In a recent article, I describe this role as a steward of the commons.

Mark Zuckerberg seems to agree, and seems willing to pay a price to demonstrate it.