GoBear, Asia’s first and only metasearch engine for insurance and banking products, and FE Credit, the largest lender in Vietnam’s consumer finance market, have signed a deal to drive greater financial inclusion for Vietnamese people.
GoBear and FE Credit have signed a deal to drive greater financial inclusion for Vietnamese people. (Photo: VNA)
HCM City (VNS/VNA) - GoBear, Asia’s first and only metasearch engine forinsurance and banking products, and FE Credit, the largest lender in Vietnam’s consumerfinance market, have signed a deal to drive greater financial inclusion forVietnamese people.
Under the partnership, GoBear Vietnam will synergise with FE Credit’saward-winning end-to-end digital lending mobile app $NAP.
The new GoBear powered by FE Credit app will enable an entirely digitalapplication process, streamlining the user journey from comparison toapplication, and loan pre-approval within 15 minutes.
This will bring better access to unsecured loans to millions of Vietnamese whodo not have banking accounts.
The app uses new technologies including facial recognition, AI algorithms,optical character recognition (OCR) and intelligent character recognition(ICR), voice-ased virtual assistant, speech to text, eSignature and more, toenable the lender to extend credit to unbanked customers while keeping risk incheck.
Kalidas Ghose, vice chairman and CEO of FE Credit, said “As Vietnam’s economycontinues to thrive, we see many opportunities to collaborate with financialtechnology companies to accelerate financial inclusion for the country.”
Bao Nguyen, country director of GoBear Vietnam, said: "Improving financialinclusion and serving the unbanked is very important in an emerging market likeVietnam. They have limited access to mainstream financial services, which is asignificant problem as it can substantially restrict the flow of capital towould-be entrepreneurs and small businesses.
“With the new GoBear powered by FE Credit app, I believe we can help to improvefinancial accessibility for our users.”
The app is available for download on the Google Play store and will beavailable soon on the Apple’s App Store.
Since its entry in Vietnam in December 2016 with eight products — comparison ofcredit cards, personal loans, travel insurance, fixed deposits, bank accounts,home loan, home equity loan and car loan, GoBear Vietnam has received more than10 million visitors on its website www.gobear.com/vn.-VNS/VNA
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GoBear and FE Credit have signed a deal to drive greater financial inclusion for Vietnamese people.
