This partnership brings together technology start-up JupViec, Lien Viet Post Bank, CARE and the Australian Department of Foreign Affairs and Trade (DFAT) to increase wellbeing of urban migrants by providing access to formal financial services and jobs. The partners are collaborating on the Urban Migrant Entrepreneur Capital (U-ME Capital) initiative, which will create an integrated mobile app to provide migrants with access to dignified income-earning opportunities and a range of formal financial services. The app will include options for daily salary payment, remittances, micro-loans, online savings, mobile and utility bill payments.
The U-ME Capital partnership will create a sustainable and scalable business model by building the customer base and increasing market penetration for both Jupviec and Lien Viet Post Bank. For low-income migrants, the partnership will increase access to formal financial services and provide opportunities for dignified work. The partnership will support the private sector partners to improve gender policies and practices.