In the context of the consumer finance market in Vietnam being on the path of recovery and growth, digitalization has become a key factor to help businesses improve operational efficiency, while meeting the increasing expectations of customers, thereby contributing to shaping a more modern, flexible and accessible consumer finance market.
Digitalization - The inevitable growth driver of consumer finance
Recently, in response to the "National Digital Transformation Program" and the "Banking Industry Digital Transformation Plan", credit institutions have proactively developed digital transformation strategies to improve user experience. At the Conference "Innovation of financial work in Vietnam WFIS 2025" held in April 2025, Mr. Le Anh Dung - Deputy Director of the Payment Department, State Bank - said: By the beginning of 2025, more than 90% of financial transactions will be conducted through digital channels at many credit institutions. This shows the strong transformation of the entire financial - banking industry in optimizing services towards the goal of focusing on customers.
The trend of comprehensive digitalization has been shaping a new standard in the finance and banking industry, where technology is no longer a supporting tool but has become a core element in competitive strategy and sustainable development. Today's customers not only want to use fast and convenient financial services but also demand transparency and a friendly experience.
Therefore, in the consumer finance sector, many businesses have invested heavily in developing mobile applications, 24/7 support chatbots and integrated financial utilities to help customers easily track and manage loans. In particular, Big Data analysis technology and artificial intelligence (AI) are widely applied to personalize loan products and minimize credit risks.
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| Technology helps people in remote areas access consumer financial services more conveniently. Photo: FE CREDIT. |
Digital transformation also helps consumer finance companies expand their service network, especially in rural and remote areas where traditional financial services are limited. The digitization of the loan process has created conditions for millions of people to easily access capital for personal and family consumption. Another important factor contributing to the acceleration of the digitalization process at businesses is the entry of young customers into the consumer lending market. The report "Decoding the new era: Risks and opportunities in the Banking and Consumer Finance industry in Vietnam" published in December 2024 by Fiingroup pointed out that the young customer group - Gen Z - is considered the main driving force for the industry to promote technology application in the next 5 years.
As "digital natives" born and raised in the internet age, Gen Z has the habit of spending and accessing financial services through digital channels such as mobile apps, e-wallets and online platforms. Young customers with a higher risk tolerance than previous generations, thanks to the ability to access financial information quickly and diversely, also create demand for new, more flexible and diverse financial products such as credit cards, buy now pay later (Buy Now Pay Later). This is both an opportunity and a challenge, forcing financial companies to restructure products and lending processes, moving from complex paperwork to fully digitalized solutions.
FE CREDIT breaks through with digital consumer lending platform
As one of the leading enterprises in the consumer finance market, FE CREDIT has continuously improved and innovated over the past 15 years to enhance customer experience, optimize operations and expand market share. In the period from 2022 to 2024, the enterprise has witnessed a strong shift, with a growth rate of up to 60% coming from the end-user segment Gen Y and Gen Z - an important driving force for the digital transformation process.
Over the years, FE CREDIT has deployed a series of modern technology solutions to digitize the consumer lending process, which is considered complicated, multi-step and time-consuming. After a period of focused development, FE CREDIT has launched the multi-tasking financial application FE ONLINE 2.0, integrating financial products and diverse features to serve customers, including: Flexible cash, opening credit cards, convenient digital banking as well as tracking and managing loans.
In the past, a loan application took several days to process, and customers had to go directly to the points of sale for consultation, registration, and disbursement. Now, with the digitalization process, this entire experience has become faster and more convenient. In customer care activities, since 2020, FE CREDIT has deployed an intelligent AI Chatbot, supporting customers 24/7. In 2024 alone, this Chatbot has served more than 130,000 users, with over 200,000 communication sessions per month, helping to shorten response time and increase satisfaction.
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| “Cashless Day 2025” is an opportunity for businesses to promote digital financial solutions to a wide range of customers. Photo: FE CREDIT. |
Not only implementing digital transformation individually, FE CREDIT also actively responds to the policies of the Government and the State Bank by participating in activities to raise people's awareness of digital transformation and financial inclusion. On June 14-15, 2025, FE CREDIT accompanied VPBank as a member of the VPBank financial ecosystem to participate in the Cashless Day 2025 program. This is an annual activity organized to shape and strengthen habits, change behaviors of using digital payment methods and means, affirm the strategic role of cashless payments, contributing to the implementation of the Government's "Project on developing cashless payments for the period 2021-2025".
At the event, FE CREDIT will introduce the multi-tasking financial application FE ONLINE 2.0, promote consumer finance products, organize interactive activities, encourage visitors to experience and receive attractive gifts. In the digital age, customer experience is no longer an option but a vital factor. With a comprehensive digital transformation strategy and long-term vision, FE CREDIT not only accompanies customers but also contributes to shaping the future of the consumer finance industry in Vietnam - more modern, transparent and accessible than ever.
Source: https://baodautu.vn/doanh-nghiep-day-manh-so-hoa-quy-trinh-vay-tieu-dung-d303392.html
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