Visa Credit Scoring Solutions

Fundiin is a technology company in Vietnam, providing the first free post-purchase payment solution. This is a service owned by Fundiin Joint Stock Company. Customers can pay for their orders through 3 installments, each lasting 1 month with 0% interest. This gives customers the best shopping experience even if they are not financially ready.

Fundiin - a popular "Buy Now Pay Later" solution in Vietnam

Therefore, credit scoring is one of the important factors in assessing the ability of customers to repay debts. However, for many consumers with no or thin credit history, access to capital is still a big challenge. Visa's credit scoring solution combined with Fundiin's data technology can help improve the accuracy and stability of risk assessment. As a result, credit approval decisions will be made faster, increasing the approval rate while still controlling the bad debt rate at a low level.

According to Mr. Nguyen Anh Cuong, CEO of Fundiin, the cooperation with Visa is a long-term strategic step that helps strengthen the solid foundation for extensive cooperation plans with financial institutions and banks in Vietnam. "We are committed to innovation and applying technology to provide safe, transparent and cost-optimized credit products for consumers," Mr. Cuong shared.

One of the most important benefits of this partnership is easier access to finance for consumers, especially those without a credit history. Thanks to the application of modern credit scoring technology, the system can accurately assess risk even when there is a lack of credit history data. This opens up opportunities to build personal credit scores, helping consumers make larger financial transactions in the future, such as home loans, at lower costs.

Founded in 2019, Fundiin is a pioneer in the Buy Now Pay Later (BNPL) industry in Vietnam. Currently, Fundiin is cooperating with more than 800 retail partners, providing a convenient and stress-free payment method for consumers. The biggest difference of Fundiin is that it has not had a debt collection department since its establishment, demonstrating its commitment to providing responsible financial solutions and putting customer experience first.

Visa operates in more than 200 countries and territories, providing secure and modern electronic payment technology. The partnership with Fundiin is part of its strategy to expand financial access and promote the digital economy through innovative payment and credit scoring solutions.

This upgrade of the credit scoring model not only helps Fundiin and Visa improve their risk management capabilities but also opens up new opportunities for the digital financial market in Vietnam. As technology continues to develop, flexible and transparent financial solutions like Fundiin - Visa will play an important role in promoting financial inclusion, helping consumers access credit more easily and safely.

Source: https://thoibaonganhang.vn/giai-phap-cham-diem-tin-dung-cua-visa-161816.html