The July 2019 FitchRatings report, Consumer Lending in Vietnam, revealed that consumer lending in the country has increased strongly since 2013 on the back of rising affluence and strong economic growth.
Fitch estimated the top 11 Vietnamese banks make up about 70% of system loans, with consumer portfolio growing at 28% CAGR during the forecast period (2014-2018). With only 30% of Vietnam’s population having a bank account, there is ample opportunity for all.
One bank looking to further solidify its position in the local market is FE CREDIT.
The bank recognised that operating two separate contact centre operations – one for outbound and the other inbound – to handle the needs of 10 million customers presented challenges for its sales and support team and may hinder business growth.
With a diversified network of over 13,000 points of sales nationwide and more than 9,000 partners, the bank also maintained 4,500 service, sales and collections agents trained to market, sell and support its 10 million active customers across phone, email, chat and social channels.
The bank deployed a cloud-based solution from Genesys to help it handle approximately 10,000 inbound calls and 1.7 million outbound calls per day, as well as 5,000 emails, chats and social media sessions.
FE CREDIT now has all customer data from their service, sales and collection teams unified in a single platform. This offers them a complete overview of the customer, enabling them to provide a seamless, connected experience at every touchpoint.
Since the upgrade the bank has reported a 90% increase in customer satisfaction.
Fahad Siddiqui, Deputy Chief Information Officer at FE CREDIT said the interface for Genesys Engage is very intuitive in its look and feel.
“The upgrade is helping the customer servicing, sales, and collections manage over a million calls that received daily but also made the engagements highly personalised. It is like a social platform that makes it easy for people to see, learn and use,” concluded Siddiqui.