MFast, an innovative Vietnamese fintech company, is making its way to the Philippines, bringing with it a mission to empower individuals seeking financial products and aspiring sales agents. Founded by twin brothers Phan Thanh Long and Phan Thanh Vinh from a rural town in Vietnam, MFast is dedicated to addressing the financial challenges prevalent in underserved communities—a struggle the founders witnessed firsthand.

While twins are often born minutes apart, in the case of the Phan brothers, it was more than an hour. Vinh might not have had his younger twin, Long, had it been five minutes later. Vinh and Long were born in the rural area of Binh Phuoc, less than an hour’s drive to Cambodia. As you can imagine, hospitals in the provinces forty years ago were not set up to detect twin births. The Phan brothers’ unique birth circumstances highlight the challenges faced by underserved communities. Just as their birth experience defied the norm, MFast, their fintech company, aims to disrupt traditional financial services by empowering individuals in similar situations.

MFast’s Pioneering Model

The founders’ vision evolved into MFast, which today stands as the largest sales agent network for financial services in Vietnam. MFast’s distinctive business model is built on the Learn-Practice-Earn framework, enabling individuals from diverse backgrounds to become all-in-one agents. These agents provide crucial services in finance, banking, and insurance, thereby fostering a wave of financial education and opportunity throughout their communities.

Unprecedented Success in Vietnam

In Vietnam, MFast has shown exceptional growth and success. The platform spans all 63 provinces, employing a vast network of agents who effectively bridge the gaps in traditional field sales models. As the first to establish an Agent Network Platform in Vietnam and expand into non-life insurance, MFast has achieved significant milestones, including winning the prestigious SME100 Asia Awards in 2023. Notably, some agents on the MFast platform in Vietnam can earn more than 100 million VND monthly (around PHP 225,000), ten times the average salary in the country.

The Promise for the Philippines

The launch of MFast in the Philippines is a strategic move to replicate the success achieved in Vietnam and positively influence the lives of Filipinos. Under the guidance of Carolyn Rose G. Lao, a veteran in financial services, MFast Philippines is set to provide unlimited earning potential, flexible working conditions, and dynamic training opportunities.

The prospects for MFast in the Philippines are significant. It promises not only to deliver accessible financial products but also to offer a sustainable and lucrative career pathway for many individuals. By employing advanced technology like AI fraud detection, MFast maintains high integrity and trust within its network, essential for fostering a robust financial ecosystem.

A Bright Future Ahead

As MFast expands, the Phan brothers remain committed to their original vision: making financial tools and knowledge universally accessible, thus enhancing financial literacy and overall well-being. In the Philippines, this vision translates into inclusive economic growth, where every Filipino has the chance to prosper.

“We are thrilled to bring MFast to the Philippines, a land known not just for its vibrant culture but for the resilience and enterprise of its people. From our humble beginnings in Binh Phuoc, we’ve always believed in the power of financial tools to transform lives. Launching MFast here is not just about expanding our reach—it’s about planting seeds of opportunity and watching them grow into possibilities far beyond what we ever imagined. We see this as a new chapter for our business and every Filipino joining us on this journey towards financial empowerment and independence.” — said Phan Thanh Long, Co-Founder and CEO.

More than just a company, MFast is a movement grounded in the principles of inclusion and empowerment. With its foundational values, MFast is poised to become a significant contributor to the financial landscape in the Philippines, uplifting lives one agent at a time.