Vietnam Prosperity Joint Stock Commercial Bank (VPBank) today announced the completion of the sale of 49% stake in VPBank Finance Company Limited (FE Credit) to SMBC Consumer Finance Co., Ltd (SMBCCF), a wholly-owned subsidiary of Japan’s Sumitomo Mitsui Financial Group, Inc. (SMBC Group). As such, six months since VPBank and SMBCCF signed the capital transfer […]
FE CREDIT SCORES HAT-TRICK AT CMO ASIA AWARDS 2019
Singapore, August 15th, 2019
FE CREDIT was honoured to receive triple awards at the 10th Annual CMO Asia Awards 2019, a premier forum that rewards the best marketers, brand custodians, advertising and the industry professionals who make outstanding contributions in the Brand & Marketing fraternity in the region.
Since its inception in 2010, FE CREDIT has grown to be a leading consumer finance company in Vietnam, serving over 10 million customers through a suite of well-developed consumer finance products, including cash loan, consumer durables loan, cell phone/laptop loan, motorcycle loan, insurance and credit card. With the database of over 25 million customers and 8 million current loans including 1.7 million credit cards, FE CREDIT has captured over 50% market share, bringing more Vietnamese people into the fold of organized finance, than the entire Vietnam banking sector put together.
This is the first time FE CREDIT won Marketing Campaign of The Year and Award For Best Use Of Social Media In Marketing awards, thanks to its innovative marketing strategy of evolving to “surround sound” the customer on their daily journey, anticipating the unmet needs of target customers, and engaging with them both emotionally and rationally.
FE CREDIT had launched various marketing campaigns across multiple online and offline platforms from the last quarter of 2018 till the first quarter of 2019, to leverage the peak of Vietnam’s year-end spending season in order to acquire new customers and also to deepen relationship with its existing customers.
“Over the years, FE CREDIT has constantly reinvented itself, not only to become the largest consumer finance company, but also to be the most effective financial solutions provider to help millions of Vietnamese consumers realize their dreams as well as contributing in the country’s goal of financial inclusion,” said Mr. Kalidas Ghose, Vice Chairman and CEO of FE CREDIT. “Therefore, many of FE CREDIT’s marketing campaigns are not only measured by impressive creative ideas or positive responses from consumers or the return on marketing investment, but also by the recognition from global organizations such as CMO Asia.”
Mr. Basker Rangachari, Chief Marketing Officer, FE CREDIT was also recognized as CMO Of the Year. According to CMO Asia Award committee, Mr. Rangachari and his team have been able to generate demonstrable positive business ROI on marketing initiatives. They also played a vital role in driving a positive brand perception of FE CREDIT as a strong customer-centric company through various Positive PR and financial inclusion initiatives. Specific efforts that were recognised by the Awards Committee were streamlining the organisation structure, upgrade of people & talent, data-driven marketing campaigns and a digital-direct acquisition model.
On this occasion, Mr. Rangachari proudly shared “The year 2019 witnessed a marked shift in the marketing strategy of FE CREDIT, driven by a team of young, energetic and passionate marketers. The continuous feedback from various channels gave us new insights into customers’ behavioral preferences. We observed that many people struggle to make their ends meet, and any unexpected expenses like home renovation, emergency medical needs put them under tremendous mental stress. In these circumstances, sometimes they fall prey to unauthorized money lenders and get into a debt trap whilst undertaking personal risks. We identified several such life-changing situations at granular level and developed specific marketing strategies and campaigns for each need. Thanks to business intelligence data and advanced analytics, we have been able to make customized offers to each customer segment, via their preferred communication channels.”
Mr. Basker Rangachari, Chief Marketing Officer of FE CREDIT was rewarded CMO Of the Year
at the 10th Annual CMO Asia Awards 2019 held in Singapore
The company was also recently named as Best Consumer Finance Company Vietnam 2019 and Best Consumer Finance Company for Customer Experience Asia 2019 by Global Banking & Finance Review. FE CREDIT has achieved a record of the maximum wins in the history of Vietnam’s consumer finance industry.
About FE CREDIT
Pioneering in Consumer Finance, FE CREDIT has established a solid foundation to become the market leader of the unsecured consumer loans market. FE CREDIT currently provides consumer lending services such as personal loans, two-wheeler loans, consumer durable loans and credit cards. FE CREDIT has served over 10 million customers, co-operating with more than 9,000 partners across over 13,000 Points of Sale (POS) nationwide.
Moreover, the value of the FE CREDIT brand is also recognized by noteworthy and respected national and international awards including Finance Company of The Year and Consumer Finance Product of The Year at Asian Banking & Finance Retail Banking Awards 2019, CEO of The Year, Best Customer Experience Management of The Year from Customer Relationship Excellence Awards and Top 10 Asia’s Most Trusted Brands at the Asia International Economic Forum 2019.
For more information, please contact:
FE CREDIT Marketing Center – VPBank Finance Company Limited (VPB FC)
Address: Level 2, REE Tower Building, No. 9 Doan Van Bo, Ward 12, District 4, Ho Chi Minh City
Phone: (028) 3911 5212
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