FE CREDIT Transforms Customer Experience in Lending Services

For FE CREDIT, a pioneer in Vietnam’s unsecured consumer lending space, increasing financial inclusion through lending services meant tackling bottlenecks in its customer-centric approach. The financial firm was initially set up as the consumer finance division of the Vietnam Prosperity Joint-Stock Commercial Bank (VPBank) and FE CREDIT became an independent company in 2015. Today, it serves more than 10 million and dominates the unsecured consumer lending space in Vietnam with 53% market share. Despite its market leadership, limitations within its siloed legacy contact center infrastructure hampered agent performance in satisfying customer needs. Establishing superior omnichannel customer experience is becoming the decisive factor in enabling FE CREDIT to achieve scale and growth in lending services.

FE CREDIT sought a solution that could integrate disparate multichannel interactions into a seamless omnichannel customer engagement platform. It recognized the need to optimize workflows and agent productivity across its global contact centers to maintain a sustainable competitive advantage in the market.

Following a rigorous RFP process, FE CREDIT selected the Genesys Multicloud CX™ solution to transform its vision for omnichannel excellence into reality. The solution stood out for its out-of-the-box features, unlimited scalability and customization opportunities. Other key differentiators included a personalized customer-centric approach, seamless integration, stability and pricing.

Up to 89% Boost in Customer Satisfaction Rates

FE CREDIT previously relied on two contact center platforms — inbound IVR customer services and outbound autodialer campaigns — to respond to customer queries. Both lacked synergy, which created data silos and hindered effective agent collaboration. The misalignment between teams led to disconnected processes and poor customer experience.

With the Genesys Multicloud CX implementation, FE CREDIT integrates both platforms on a single omnichannel agent desktop application for a holistic 360-view of the customer across all interaction channels.

The solution integrates services such as inbound and outbound calls, email, web chat, mobile chat, and Facebook Messenger on a single unified client desktop interface, enabling seamless customer engagement. The system also provides greater visibility over operations and training opportunities with detailed reports on agent service rates, operation activities and productivity.

Service Levels Rise 90% and Agent Productivity Soars

Legacy contact center channels that the bank previously used FE CREDIT offered little to no capability to manage and monitor customer connect channels. It wasn’t possible to prioritize requests with inefficiencies in the dialing processes, eroding customer experiences. Genesys performance management tools are allowing FE CREDIT to proactively monitor its agents in real-time and automatically route calls to agents based on the request priority. FE CREDIT has gained remarkable savings in customer connect times — increasing customer connect probability scores by 25% while reducing call wait times.

The highly intuitive platform has also had a positive effect on agent productivity. Agents can shift between applications seamlessly, address multiple customers’ queries simultaneously and eliminate unnecessary login requirements. The user-friendly interface has been fundamental in improving the service levels of agents on the job, enabling FE CREDIT to save on operational costs and boost efficiency.

Driving the Next Phase of Contact Center Innovation

FE CREDIT plans to further innovate its contact centers into customer experience hubs through the use of advanced artificial intelligence (AI) and machine learning engines. The valuable contextual insights generated on customer demand and preferences have been incredibly powerful in allowing FE CREDIT to better respond to customer needs.

The system seamlessly leverages predictive routing to select the agent most suited to handle the customer query, ensuring a personalized and engaging experience. And touchpoints that are created are integrated into the CRM automatically for further analysis.

By integrating the customer journey, FE CREDIT is rapidly expanding its lending services across Vietnam’s unbanked segment, resulting in increased financial accessibility and inclusion.

Omnichannel customer engagement is the winning formula for staying ahead of the competition. An agile all-in-one solution, such as the Genesys Multicloud CX solution, provides businesses with the right platform to lead contact center transformation and deliver seamless, omnichannel customer experiences.

Watch the FE CREDIT video to learn more.