FE CREDIT – 15 years of pride, supporting millions of dreams

After 15 years of development, FE CREDIT is not only one of the pioneers in the field of consumer credit, but also a symbol of innovation, perseverance and constant efforts to improve the quality of life for millions of Vietnamese people. Entering a new stage of development, FE CREDIT continues to transform sustainably, maintaining the commitment of "Fast - Easy - Reliable", bringing transparent, convenient and secure financial experiences to customers.

Bringing mainstream consumer finance to every Vietnamese person

Established in 2010, from the very beginning, FE CREDIT (a member of the financial ecosystem of Vietnam Prosperity Joint Stock Commercial Bank - VPBank ) has chosen a challenging path - entering the young Vietnamese consumer credit market with the ambition of laying the foundation and building standards for the overall development of the industry. FE CREDIT focuses on the main customer segment of low-income people, customers in rural areas who have not yet accessed the modern financial system, have the habit of borrowing from acquaintances or "hot" loans with very high interest rates.

At this time, the consumer loan model is still quite new to the people, there are many unreliable lending units and many shortcomings that make some people have an unfavorable view of this new field. This is also the biggest challenge of FE CREDIT, how to make customers understand the nature and benefits of consumer loans.

FE CREDIT develops alongside the Vietnamese consumer finance market. Photo: FE CREDIT.

Thanks to persistent efforts, FE CREDIT's consumer finance products are increasingly appearing and becoming familiar to Vietnamese people, from workers, small traders to ordinary laborers. At stores selling motorbikes, household appliances or electronic devices, people can easily access credit packages worth several million to several tens of million VND with reasonable interest rates. Thereby, they have more opportunities to solve personal financial problems, realize plans such as shopping, studying, taking care of health, starting a business, stabilizing their lives and building a solid foundation for the future.

FE CREDIT became the market leader when at times it accounted for 50% of the industry's market share (consumer finance companies) and was chosen by millions of customers, especially customers who did not have access to traditional banking services.

FE CREDIT has a wide network, bringing financial solutions to all regions of Vietnam. Photo: FE CREDIT.

For customers, each loan from FE CREDIT is not only a financial solution, but also a trust that helps them to be steadfast in life.

With partners, FE CREDIT always values ​​sustainable cooperation and mutual development. FE CREDIT and partners develop business through a network of tens of thousands of points of sale, spreading the brand and expanding the ability to serve customers more comprehensively.

For the community, FE CREDIT actively carries out its social responsibility. Over the past 15 years, the company has implemented hundreds of community programs, joining hands to bring a bright future to disadvantaged people across Vietnam.

To date, FE CREDIT has won over 17 million customers, cooperated with more than 8,000 partners and has more than 13,400 service introduction points nationwide. The diverse product and service ecosystem includes: Flexible cash, installment loans for motorbikes, loans for phones - electronics and credit cards.

Creating a sustainable future of consumer finance in Vietnam

According to data from the State Bank, in 2024, the credit scale of the entire economy will reach over 15.6 million billion VND, of which consumer credit balance accounts for 21.46%, equivalent to about 3.3 million billion VND. However, 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 consumer finance companies currently only account for about 5% of total outstanding consumer loans, showing that most consumer credit is still concentrated in the banking channel.

The market has recently witnessed the strong participation of banking groups in the consumer lending segment with a series of "tailor-made" financial products launched. Banks are promoting digitalization and at the same time increasing cooperation with Fintech to diversify access channels and become more customer-friendly. This reality has both created competitive pressure and opened up opportunities for FinCos in the race to expand market share and develop products, taking advantage of market space for growth.

In the context of the increasingly popular trend of online shopping, installment payments and credit card usage. At the same time, the entry of Gen Z into the labor market creates new momentum for domestic consumption demand. FE CREDIT identifies digital transformation as the key to growth, helping businesses expand their scale, reach new customer groups and improve operational efficiency.

Technology helps people access consumer financial services more easily and conveniently. Photo: FE CREDIT.

In the coming time, FE CREDIT will strongly deploy the strategy of "Customer Experience-led Digitalization", considering this as the foundation for all innovation activities. With a comprehensive strategy and long-term vision, FE CREDIT not only brings practical values ​​to customers but also contributes to creating the future of Vietnam's consumer finance industry - transparent, accessible and sustainable.

“ FE CREDIT is proud to look back on the past journey and firmly step into the future - where every value created brings happiness and opportunities for change to the Vietnamese people. FE CREDIT will not only maintain its leading position but also continue to expand its influence in the financial industry through outstanding service quality, commitment to sustainable development and full implementation of its responsibilities to the community.” , FE CREDIT representative affirmed.

Source: https://thoibaonganhang.vn/fe-credit-15-nam-tu-hao-tiep-suc-trieu-uoc-mo-173179.html