VietCredit

Thanks to the rapid economic development in Vietnam, the middle class population is witnessing accelerated growth in their income and spending power. This means a greater need for personal loans.

However, the previous loan screening process for customers was long and tedious which took a toll on VietCredit’s staff. The screening was traditionally done through paper documentation, and incomplete documents often meant that VietCredit’s staff had to re-look at each application.

As the volume grew, VietCredit needed a solution to handle the increase demand in personal loan transactions. Through digitisation, VietCredit was able to screen consumers more accurately to provide the best loan possible at a much faster pace.

Using our sophisticated AI Technology/Prediction of Rare Case (AT/PRC) scoring model, we were able to develop an automatic loan screening system that is both flexible and easy, further streamlining the review process.

This was accomplished by predicting and detecting rare cases with high accuracy to help lower the risk of a potential loan default.

One such example was excluding individuals who have multiple loans at other financial institutions. Our technology helps to reduce the reliance of individual experience to accurately assess each loan application, allowing for greater efficiency and turnaround time.

To help streamline the application process, the automatic contract service was created to digitise the entire process of handwritten applications through portable customer tablets.

This allows VietCredit to better allocate their manpower, and strengthen their sales division to reach out and connect better with a more carefully screened customer base.

Together with VietCredit, our new screening model provides a more precise credit risk analysis, boosting more full-amount approvals.

This helps VietCredit to reach the rest of the Vietnamese personal loan market.

To further increase financial inclusion, this partnership will continuously enhance services by using cutting-edge technology including biometric authentication and voice recognition technology.