Vietnam Consumer Finance Market Survey Report

Following a lengthy period of adjustment, the market anticipates a recovery as economic conditions improve and FinCos evolve to thrive in a changing business landscape and evolving consumer demands.

Staying competitive necessitates a deep understanding of how competitors’ strategies, customer experience and preference and aligning these attributes with product offerings effectively.

To understand how major FinCos markets its products to customers, FiinGroup conducted confidential research, leveraging a multi-pronged approach, including cold-calling sales representatives, visiting stores, engaging in mystery shopping, and holding discussions with FinCos representatives and actual borrowers. Our exploration spans crucial dimensions such as product offering and features, appraisal processes, customer attributes, acquisition strategies, risk appetite, target demographics, interest rate positioning, at the company level and within each product segment.
 
FiinGroup also conducted in-depth interviews with actual borrowers of major FinCos in Hanoi and HCMC to gain deeper insights into the voice of customers.
 
This report answers the following questions:

• What are the most common consumer finance products in Vietnam (PL, 2WL, CDLs, CRCs, etc.)?
• How are FinCos offering their products to customers in terms of interest rate positioning, average ticket size, tenure, etc., ?
• What is the average turnaround time for getting a consumer loan among major FinCos and different products?
• Which are the most important customer touchpoints (where and when the decision was made, eg: when shopping for goods/services, when experiencing mobile APP, when being consulted by telesales, when being consulted by DSAs, when seeing promotions/advertisements, etc.,)
• How do customers rate their satisfaction on various aspects (i.e. (*) website, APPs, network, sales agents, underwriting, product offerings, procedures, turnaround time, interest rates and fees, etc., )  along their journey at particular FinCos and their suggestions for improvements
• What are key attributes of customers and how they vary among different demographic groups (i.e. Customers’ perception about CF, borrowing purposes, most preferred channel for getting information about CF products, percentage of monthly income allocated for debt repayment, most preferred interest rate ranges and turnaround time, etc., )
• What are the key factors that influence customers’ decision when choosing to stay with a FinCos or getting consumer loans at other FinCos 

We would like to provide you with the Demo.
 
Table of contents and summary of key findings can be found HERE.

About FiinGroup    

FiinGroup is Vietnam’s leading provider of financial data analytics platforms, business information, market research and consulting, credit ratings, and other data-driven analytics services via Platform as a Service (PaaS), annual package, and on-call services.    

FiinGroup has successfully supported various local and foreign investors conduct market assessments, commercial due diligence, merger filing support and deal/market entry advisory works to penetrate/ expand in Consumer Finance Sector and many key sectors in Vietnam including financial services, fintech, infrastructure and utilities, environmental sectors, logistics, construction and building material, etc.    

For more information about FiinGroup’s support and other investor services and how we can support, please call +84 (24) 3562 6962 or email to research.support@fiingroup.vn.