Launching Easy Credit - SEAMLESS conference (Nov 2018)
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Presentation given at Seamless conference 2018 on launching Easy Credit, digitally and CX oriented innovative consumer lender in Vietnam.
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Launching Easy Credit - SEAMLESS conference (Nov 2018)
- 1. Do you want an EASY Credit? Carsten Ley – Director PMO & CX Slawek Wilski – Commercial Director
- 2. 2 Easy Credit started 1 October 2018 https://youtu.be/GKmTIB0u_DI
- 3. 3 ALL THE CUSTOMER WANTS
- 4. Jobs Jumping Baby Schools Life College Entrance Graduate Job Settling Marriage Intention Home Marriage Baby Stable Career Family, Child Growing Elder care Child grown up Grand parents Better Home, Child in School WHEN CUSTOMER NEEDS IT? 4
- 5. Tet Women Days AC Season > 30/4 Holiday Season Raining Season Back-2- School + Home Improve ment Marriage Season Year-end Shop- ping / Holiday WHEN CUSTOMER NEEDS IT? 6
- 6. 7 HOW TO GET A LOAN?
- 9. 10 How we are convenient & seamless? Get our Loan offer Accept our offer Loan delivery & check Get the loan payment Payback CALL YOU BACK ASK FOR INFO NO DOCS PROPOSE AMOUNT & PAYBACK TIME YOU CAN AFFORD GIVE YOU CHOICES DELIVER THE CONTRACT CHECK REQUIRED DOCS & TAKE PICS AT YOUR DOOR SEND PAYMENT SMS WITH BANK INFOS WE HELP YOU TO REMEMBER BUT DO NOT CALL YOU CALL / CHAT / POST APPLY ONLINE ACCEPT ON CALL ASK ANY QUESTIONS STAY AT HOME OR GET DELIVERY TO ANY OTHER PLACE GO TO OUR PARTNER BANKS GET BANK TRANSFER GET CASH BACK FOR PAYING ON TIME YOU WE
- 10. 11 HOW FAST ARE WE? DAY 1 DAY 1 DAY 2 AFTERNOON OFFERS DAY 2 DAY 30 DAY 1 MORNING OFFER Get our Loan offer Accept our offer Loan delivery & check Get the loan payment Payback
- 11. 12 GAP OF THE INDUSTRY SIMPLE & FAST PROCESS EASY TO APPROACH STABLE INTEREST RATE BROAD OUTLETS & QUALIFIED REPRESENTATIVES CLEAN REQUIREMENTS EASY DISBURSEMENT EASY PAYMENT/ INSTALLMENT COMPLICATED CHECKS CONTINUOUS DISTURBANCE IMPOLITE PAYMENT REMINDERS HIDDEN FEES ANNOYING REMINDER CALLS WANTS GETS NO OUTSTANDING PLAYER – ALL INTERCHANGEABLE
- 12. 13 GAP OF THE INDUSTRY
- 13. 14 AFFORDABLE EXPENSIVE FAST SLOW Source: Internal research 14 NOT THE CHEAPEST BUT THE FASTEST
- 15. 16 EVOLUTION OF THE INDUSTRY
- 16. 17 Phase Sales Model Risk Model Operations Seamless CX 2: Professionalization More warm leads => partnerships Continue to use direct sales agent and tele sales Risk scoring model, increasing reliance on auto approval Technology enablement to improve productivity and efficiency Important 3: Pull & AI Largely pre-approved loans (DB) Greater use of remote channels (internet, TLS) Scale down physical presence Sophisticated risk model to determine pre-approved product Automatic process offers very fast TAT & disbursement Critical 1: Wild West Leads via cold approaches DSA model Cross sell when enough customers in database Simple criteria, no risk model Largely manual & paper based Nice to have, can be forgiven EVOLUTION OF THE INDUSTRY
- 17. 2/3 discover new providers through research & 1/2of these discoveries are made via onlinesources BUT FUTURE IS ALREADY HERE…. 21% UNCOVEREDNEW OFFERINGS 65% UNCOVEREDNEW PROVIDERS DISCOVERY THROUGH RESEARCH BRANDDISCOVERY SOURCE Q26. While looking for information / doing research, did you uncover any new providers that you hadn't initially thought of? Base: Signed up for credit card or personal loan in the past year, n=501 Q26A. How did you learn about the new provider? Base: Discovered new providersn=324 TOPSOURCE 53% FOUNDONLINE Source: PathToPurchaseResearchbyGoogle&Kantar/ TNS,2017
- 18. 19
- 19. 20 !Take an EASY Credit