Engaging with Diverse Mobile Customers:

Streamlining Consumer Credit Business for FE Credit in Vietnam

About VP Bank

Demand for consumer finance is high in Vietnam: Outstanding loan balances exceed US $25 billion. Improving disbursements and collections efficiency is imperative to drive business growth and improve the customer experience.

With 10 million+ customers, VPBank Finance Company Limited (FE Credit) is the largest lending organization in Vietnam with over 50% market share. In Oct 2019, FE credit crossed the 1.7 million credit card issuance milestone with the user base growing every month. As a fast-growing company, the objective was to enhance the sales and collections teams’ productivity, reduce its operational cost, and improve customer experience through digitization.

Through the partnership, Vymo is handling pieces in FE Credit’s mortgage lending workflow. Specifically, Vymo is helping FE Credit with customer acquisition, lead generation, sales productivity, improving collections, enhancing customer servicing, and onboarding. Vymo offers its automated sales tool to help FE Credit’s team of 20,000 sales executives and 8,000 agents become more productive.

Impact with Vymo

Decrease in loan disbursal time
Digitisation of the Field Sales Team

Enhanced FE Credit’s collections efficiency