HOME CREDIT VIETNAM
WATCH NOW digital age – has helped the consumer finance institution significantly ramp up its client base.“ Throughout our journey, we’ ve been adding more innovation to help improve financial inclusion for all,” says Khang.
“ We ask the key questions,” Khang adds.“ How do you move offline people to online? How do you get online people to be interested in very offline-ish financing solutions? So it’ s about innovation, but it’ s also about bringing basics and foundation to these customers.
“ Today we are onboarding customers through our Home App, and we’ re able to build a relationship with them through a smartphone or personal device. This allows us to acquire more customers and also improve retention. We see 67 % of customers returning to us which for me, really highlights the strength of our product.”
Of course, given the client base Home Credit Vietnam tailors to, responsible lending is a significant point of operation the credit union has to get right.“ Responsible lending is key for us,” Khang adds.
“ By improving our level of financial inclusion, and reaching more of the underserved, we can enhance our knowledge of responsible levels of lending for customers, and get it tailored to their specific needs with a wider pool of data.”
There are other initiatives Home Credit Vietnam runs too, including Home for Life, which helps clients plot a path to lend properly and meeting payments. This is all part of the consumer finance institution’ s holistic approach to financial inclusion for all in Vietnam. Sustainable finance front of mind By meeting its financial inclusion goals, Home Credit Vietnam can meet another, significant aim: sustainable financial services.
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