Through that, the company is creating professional, transparent and sustainable values for the consumer finance industry.
From leader to strategic "transformation"
Established in 2010, FE CREDIT is one of the first units to lay the foundation for the modern consumer finance industry. With the mission of providing consumer capital to the sub-bank customer segment, such as workers, small traders, and manual laborers, the company has opened the financial door to millions of people across the country.
The leading position was established thanks to an effective strategy to approach mass customers: a wide distribution network, quick and easy approval process, diversified products to meet consumer needs and improve the quality of life of customers. During the growth cycle, FE CREDIT's market share at times reached more than 50% of the total market, contributing up to 40% of VPBank 's total consolidated profit.
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| FE CREDIT continues to maintain its leading position in the Vietnamese consumer finance industry, according to the rankings of Vietnam Report and VietnamNet newspaper. Photo: FE CREDIT. |
However, on the journey to conquer new heights, every business always faces many challenges, needs to quickly change and adapt flexibly. The context after the Covid-19 pandemic and the increased penetration of technology into the financial industry requires a new growth model.
With its leading position, FE CREDIT will make a strategic "transformation" in 2023, continuously upgrading service quality, bringing professional, transparent and sustainable values to bring the consumer finance sector to a "new chapter".
Where customers are at the center
At FE CREDIT, technology is applied strongly throughout the entire customer journey, thereby making the experience seamless and easy. Big Data analytics platform and artificial intelligence (AI) are both “tools” for FE CREDIT to expand access to financial services more conveniently and quickly for people, and help the company design each product specifically for certain groups of needs.
The AI and Big Data-based credit appraisal model also shortens approval time, while improving accuracy in assessing borrowers' financial capacity and credit behavior, thereby increasing FE CREDIT's ability to control potential risks.
The company also integrates AI into the smart chatbot system to provide 24/7 support to more than 130,000 users per month. FE CREDIT develops a multi-tasking financial application - FE ONLINE 2.0, fully integrating products, services and features such as: cash loans, opening credit cards, digital banking, transaction lookup and loan management, all with just a few operations on mobile devices.
Putting customers at the center, FE CREDIT expands its product portfolio, such as installment loans for phones and electronics, installment loans for motorbikes, credit cards and linked insurance, in addition to its strong cash loan segment, to meet the specific financial needs of consumers.
With the ability to deeply analyze customer behavior and preferences at a given time, the company also focuses on developing a variety of new features for its products, thereby increasingly personalizing financial solutions. In this way, FE CREDIT not only improves the quality of its loan portfolio but also enhances customer retention, a core factor for building sustainable growth.
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| FE CREDIT connects strongly with customers to provide “tailor-made” solutions that truly address financial needs. Photo: FE CREDIT. |
An effective operating model with professional management capacity and international standardization processes is being built by FE CREDIT with strong support from leading financial institutions, including VPBank and SMBC Group.
The company optimizes resources and receives maximum support from parent bank VPBank with advantages from capital sources and diverse ecosystems to create strong "rebound". In addition, SMBC Group emphasizes continuous improvement, discipline and customer-centricity, contributing to standardizing operations, promoting a clear "transformation", helping FE CREDIT move towards a sustainable consumer finance model.
FE CREDIT's efforts in restructuring and strategic change are gradually becoming clearer, recording 5 consecutive quarters of positive profits, up to the second quarter of 2025. In the first two quarters of this year alone, the company achieved nearly VND270 billion in pre-tax profit. Capital adequacy, operational efficiency and core credit indicators have all improved significantly, demonstrating the right and sustainable direction.
At a time when the consumer finance industry is facing many new challenges and expectations, FE CREDIT not only chooses to adapt but also proactively creates. With a clear transformation strategy, a solid technology platform and a sustainable development orientation, the company is continuing its pioneering journey and continues to bring special values to customers, shareholders and society.
Source: https://baodautu.vn/chuyen-minh-manh-me-fe-credit-viet-tiep-chuong-moi-nganh-tai-chinh-tieu-dung-d358186.html
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