Cake Digital Bank and Mobile World sign cooperation agreement to provide consumer loan products

On October 11, 2024, Cake by VPBank (Cake) Digital Bank signed a cooperation agreement to provide online consumer loan products. This cooperation helps customers easily access reputable financial support sources when shopping at The Gioi Di Dong and Dien May Xanh, with a streamlined and fast process thanks to the application of advanced technology.

Mr. Nguyen Huu Quang - General Director of digital bank Cake by VPBank (right) and Mr. Truong Hong Hoang - Business Development Director of Service Industry of Mobile World Joint Stock Company signed the cooperation agreement.

Cake is the first digital bank to cooperate with Mobile World to bring customers a 100% digital loan solution, with quick disbursement in just a few minutes. Based on digital technology, Cake has applied artificial intelligence (AI) to the automatic processing process to optimize the loan approval process, thereby shortening the registration, approval and disbursement time to only 2-5 minutes. This is a big difference compared to the traditional loan process, which requires a lot of paperwork and a long waiting time for disbursement. In addition, Cake digitizes 100% of the loan process, helping customers to apply for a loan and receive approval anytime, anywhere, just by providing a photo of their Citizen ID. This simple process meets the great demand of busy young customers - who want to access consumer capital from reputable units, reasonable interest rates but do not have much time for cumbersome procedures.

Cake Digital Bank offers a variety of online consumer loan solutions

According to a Nielsen survey in 2023, more than 70% of young consumers in Vietnam said they were willing to invest in new technology devices, especially smartphones, laptops and tablets. These are products that help young people invest in better jobs, providing many opportunities for career development and income. However, not everyone can afford to pay for these expensive products immediately. Cake's consumer loan products are designed to provide the necessary support, allowing customers to access loans with suitable limits, competitive interest rates and spread out payment times. As a result, customers can easily own the desired devices, save time preparing finances, and open up better opportunities in their work.

Customers learn about Cake's online loans at The Gioi Di Dong store

With the technological advantages of Cake and the service infrastructure of Mobile World, this cooperation not only brings more choices and consumer conveniences to the market, but also opens up an optimal digitalization journey for customers - from the need for digital devices to digital financial solutions. When experiencing the service, customers will be met by a synchronous, instant and fast digitalization process, thanks to the support of AI technology from Cake, and the digitalization system of Mobile World. True to the spirit of both brands, the cooperation between Cake and Mobile World opens up a comprehensive digital experience on the O2O journey of customers, thereby understanding and creating completely different shopping behaviors, bringing high value to all parties and the community. Mr. Nguyen Huu Quang - CEO of Cake Digital Bank said: "Through cooperation with Mobile World, Cake Digital Bank wishes to bring a high-quality digital financial experience to the market. With the advantage of technology, we are confident that this consumer loan product will contribute to providing optimal financial solutions for customers, while creating an increasingly diverse business environment for partners in the distribution and service sectors". Mr. Truong Hong Hoang - Director of Business Development for Service Sector affirmed "The Gioi Di Dong is pleased to accompany Cake in this cooperation. We believe that Cake's products with suitable limits, competitive interest rates and simple procedures will be welcomed by customers, especially young people".

In the immediate future, the cooperation products between the two units will be deployed at the Mobile World and Dien May Xanh systems.

The rapid development of technology has changed the way banks provide services, especially in the field of consumer loans. The cooperation between Cake Digital Bank and Mobile World marks a new step in the journey of digitalizing financial services, promising strong growth in the coming time, expanding other financial services and meeting customer needs. With this potential, Cake Digital Bank and Mobile World are pioneering in creating a flexible and modern financial ecosystem, best meeting customer needs in the technology era. Source: https://baophapluat.vn/ngan-hang-so-cake-va-the-gioi-di-dong-ky-ket-hop-tac-cung-cap-san-pham-vay-tieu-dung-post528278.html