FE CREDIT forges strong connections with customers by delivering tailored solutions that truly address their financial needs. Photo courtesy of FE CREDIT

HCM CITY — From market leader to strategic transformation

Founded in 2010, FE CREDIT was one of the pioneers in developing Việt Nam’s modern consumer finance sector.

Aiming to expand financial inclusion, the company has provided formal lending access to workers, small business owners, and informal labourers, bringing financial services to millions nationwide.

Its leadership position was built on effective mass-market strategies, a wide distribution network, fast approval processes, and a diverse product portfolio.

At its peak, FE CREDIT held more than 50 per cent of the market and contributed up to 40 per cent of VPBank’s consolidated profits.

However, the post-COVID-19 environment and the growing role of technology in finance have underscored the need for a new growth model.

In 2023, FE CREDIT launched a strategic transformation to enhance professionalism, transparency, and sustainability – aiming to drive consumer finance into its next chapter.

Journey to customer centricity

FE CREDIT has integrated advanced technology into every stage of the customer journey to ensure seamless and accessible services.

By leveraging artificial intelligence (AI), the company has accelerated approval times, improved accuracy in credit scoring, and strengthened risk management. AI also powers the company’s smart chatbot, which supports more than 130,000 users monthly with 24/7 assistance.

Its financial multifunction app – FE ONLINE 2.0 – offers a comprehensive platform for personal loans, credit cards, digital banking, transaction tracking, and loan management directly on mobile devices.

In addition, FE CREDIT engages customers across multiple online and offline channels, including its website, Zalo, Facebook, call centres, representative offices, and a nationwide partner network.

These touchpoints provide customers with timely updates while allowing the company to better understand and respond to evolving needs.

This customer-centric approach has strengthened relationships, improved lending portfolio quality, and laid the foundation for sustainable growth.

Backed by leading financial institutions

FE CREDIT is building a streamlined operating model with international standards in governance and management, supported by two leading financial institutions – VPBank and Japan’s Sumitomo Mitsui Banking Corporation (SMBC).

VPBank provides strong financial capacity and a broad ecosystem to support FE CREDIT’s recovery, while SMBC brings expertise in corporate governance, transparency, and customer focus.

Together, they are steering FE CREDIT towards a sustainable consumer finance model.

This strategic cooperation has already yielded results. The company has recorded five consecutive profitable quarters, with nearly VNĐ270 billion ($11.8 million) in pre-tax profit in the first half of 2025.

Key indicators such as capital adequacy, operational efficiency, and credit performance have all improved, reflecting the effectiveness of its restructuring efforts.

Driving the next chapter of consumer finance

As the consumer finance sector faces rising challenges and expectations, FE CREDIT is not simply adapting but actively shaping the industry’s future.

Its bold strategies, robust technology infrastructure, and sustainability commitment are positioning the company to deliver lasting value for customers, shareholders, and society.

With its bold transformation, FE CREDIT remains a market leader, setting new standards of professionalism, transparency, and customer focus in Việt Nam’s consumer finance sector.-VNS