GoBear Vietnam partners with FE Credit to improve financial inclusion

The partnership aims to drive financial inclusion in Vietnam

In this partnership, GoBear Vietnam will white-label FE Credit’s award-winning end-to-end digital lending solution named $NAP, which offers loans to consumers with the ability to get real time loan approval within 15 minutes.

“GoBear powered by FE Credit,” the new white-labelled mobile app, will further streamline GoBear Vietnam’s user journey and provide millions of Vietnamese people better access to unsecured loans.

This app employs new technologies, including facial recognition, AI algorithms, optical character recognition (OCR), and intelligent character recognition (ICR), voice-based virtual assistant, speech to text, eSignature, and more, to enable the lender to extend credit to unbanked consumers while keeping risk in check.

FE Credit is the largest lender in the Vietnamese consumer finance market with almost 10 million customers. The company was recently named Asia’s Most Innovative Consumer Finance Company by Global Brands and Southeast Asia’s Best Consumer Finance Company of 2018 by Global Business Outlook.

GoBear is Asia’s first and only metasearch engine for insurance and banking products. The company provides users a comparison platform that is free, easy to use, and transparent.

Since it officially went live in Vietnam in early December 2016, with eight products – comparison of Credit Cards, Personal Loans, Travel Insurance, Fixed Deposits, Bank Accounts, Home Loan, Home Equity Loan, and Car Loan – GoBear Vietnam has reached the 10 million visitor mark on its website www.gobear.com/vn and has become a trusted provider of search and comparison services for financial products in Vietnam.

“We are delighted to be renewing this partnership with GoBear Vietnam, which started in 2017. This partnership demonstrates FE Credit and GoBear Vietnam’s unwavering commitment to our customers in Vietnam,” said Kalidas Ghose at the signing ceremony.

“As the Vietnamese economy continues to thrive, we see many opportunities to collaborate with financial technology companies to accelerate financial inclusion for the country. We are proud to play a role in Vietnam’s growth story,” he added.

Bao Nguyen said, “Improving financial inclusion and serving the unbanked is very important in an emerging market like Vietnam. They have limited access to mainstream financial services, which is a significant problem as it can substantially restrict the flow of capital to would-be entrepreneurs and small businesses. With the new ‘GoBear powered by FE Credit’ app, I believe we can help to improve financial accessibility for our users.”