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Banking & Finance

FE CREDIT scores hat-trick at CEPI Asia Awards 2018

Released at: 14:15, 25/10/2018

FE CREDIT scores hat-trick at CEPI Asia Awards 2018

Photo: FE CREDIT

Lender wins three awards at international cards and electronic payments awards.

by Hung Cao

VPBank’s finance arm, FE CREDIT, which has emerged as one of the largest credit card issuers in Vietnam, scored a hat-trick at the 5th Annual CEPI Asia Awards 2018, increasing its award tally from two last year.

The CEPI Asia Awards recognize market leading offerings in cards, mobile and e-payments, remittances, merchant acquiring, and marketing campaigns across the Asia-Pacific region.

FE CREDIT won the “Best Card Design” award, for Vietnam’s first limited edition credit card, the Tet Card, launched during Lunar New Year 2018.

For “Best Technology Implementation - Front End”, FE CREDIT received the Highly Commended award for its unique product Fast Cash. In a market with a very low ATM density, Fast Cash allows cardholders access to cash through just one SMS and without any ATM.

FE CREDIT also won the Highly Commended award in “Best New Product, Service or Innovation Launch”, for MPlus+, a locally-developed unique digital card solution to tackle the physical card delivery timeline challenge in Vietnam.

“Customer-centric innovation is at the core of our business,” said Mr. Kalidas Ghose, Vice Chairman and CEO of FE CREDIT. “Such industry leading recognition inspires us to strive harder for the benefit of our customers.”

The lender early this month was also named “Best Consumer Finance Company, Southeast Asia 2018” by Global Business Outlook.

In August, FE CREDIT introduced its revolutionary solution, a fully automated lending platform called “$NAP”, which is able to verify and on-board new customers within 15 minutes.

Moody’s Investors Service last month assigned a B2 corporate family rating (CFR) to FE CREDIT for the first time. The influential rating agency also assigned an outlook for the firm.

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