After more than a decade of leading the market, FE CREDIT is redefining its position with a bold transformation, reflected in product innovation, operation enhancement, and accelerated digitalization. These strategic moves contribute to shaping a more professional, transparent, and sustainable consumer finance landscape in Vietnam.
From market leader to strategic transformation
Founded in 2010, FE CREDIT was one of the pioneers in laying the foundation for Vietnam’s modern consumer finance sector. With a mission as a bridge for formal consumer lending, the company has brought financial inclusion to underbanked individuals such as workers, small business owners, and informal laborers. Thus, FE CREDIT expanded financial access to millions of people across the country.
The company’s leadership position was built through effective mass-market approaches with an extensive distribution network, fast and simple approval processes, and a diverse product portfolio tailored to consumers. At its peak, FE CREDIT held over 50% market share and contributed up to 40% of VPBank’s consolidated profits.
However, on the journey toward new milestones, every business must face challenges that demand rapid transformation and agile adaptation. The post-COVID-19 environment and the growing penetration of technology in the financial sector have created further needs for a new growth model.
As a market leader, FE CREDIT initiated a strategic transformation in 2023 to relentlessly enhance service quality and deliver greater professionalism, transparency, and sustainability – aiming to drive consumer finance toward the new chapter.
The journey to customer centricity
FE CREDIT has fully integrated technology into the customer journey to ensure seamless and convenient experiences. Leveraging artificial intelligence (AI), the company has effectively expanded accessibility of financial services to various groups of customers.
Credit scoring models based on AI accelerate approval times and improve accuracy in assessing customers’ financial capacity and credit behavior. This significantly strengthens the company’s risk management capabilities. AI is also embedded into FE CREDIT’s smart chatbot, which supports over 130,000 users per month with 24/7 assistance.
The company’s financial multifunction app – FE ONLINE 2.0 – offers a comprehensive platform for personal loans, credit cards, digital banking, transaction tracking, and loan management – all through a few simple steps on mobile phones.
Along with FE ONLINE 2.0, FE CREDIT connects with customers through diverse offline and online channels, including its website, Zalo official account, call center, Facebook fanpage, representative offices, and an extensive nationwide partner network.
These channels make it simple for customers to reach FE CREDIT anytime and anywhere. They also serve as two-way communication touchpoints where customers receive timely updates on products and promotions, and FE CREDIT gains insights into their needs and preferences. This constant interaction helps the company respond faster, provide services more effectively, and build stronger trust.
This customer-centric approach not only strengthens the company’s relationships with customers but also enhances the quality of the lending portfolio, which are key factors for sustainable growth.
FE CREDIT is building a highly efficient operating model with professional management and internationally standardized processes, backed by two leading financial institutions – VPBank and SMBC.
The company leverages strong support from VPBank in terms of funding and a broad ecosystem, to restore its business performance impressively. At the same time, SMBC brings a spirit of continuous improvement, transparency, corporate governance, and customer focus that drive FE CREDIT’s transformation effectively and steer it toward a sustainable consumer finance model.
FE CREDIT’s restructuring efforts and strategic redirection have started to deliver tangible results, as the company has recorded five consecutive profitable quarters, generating nearly VND270 billion in pre-tax profit in the first half of 2025. Key indicators such as capital adequacy, operational efficiency, and core credit performance have significantly improved, reaffirming the company’s sustainable approach.
As the consumer finance sector faces new challenges and expectations, FE CREDIT is not merely adapting but actively investing and preparing for the future. With bold strategies, robust technology infrastructure, and a strong sustainability commitment, the company continues to lead the way, delivering lasting value to customers, shareholders, and society.
