Finsey is built to solve one mission: education financing. Summary of key innovations:
– The first credit fintech in Vietnam focuses on education sectors, providing tuition fee loans, living expenses loans, and study abroad loans, with low interest rates and no “violence” debt collection.
– We assess customer using Finsey score instead of traditional credit score like banks (90% of students can’t access to bank loans). Our Finsey Score is developed by a set of financial experts, with proven metrics such as low default rate (less than 5% – one of the lowest in the lending market).
– A dedicated digital onboarding platform via our website (finsey.vn), designed for students and gen Z, 100% automated processes to ensure highest customer satisfaction.
Finsey is found with a purpose to replace traditional banks, providing 3 major products:
- Tuition fee lending: a student applies for a loan, and then repay in 4-8 months. This product choice is in the middle segment between banks and private lenders, with middle to low interest rate (less than 10% py), but stricter applications requirements (40% acceptance rate).
- Study abroad lending: provide loans upto 85% course fee, repayment in the next 12-36 months, apply to US/UK/EU schools.
- Living expenses lending: cash loans for students, managed by Shinhan Finance.
Finsey targets higher education market in Vietnam, with 2 million students annually, total market value is reaching 350 billions USD at the end of 2024, with an annual growth rate of 11% – one of the fastest growing segment across South East Asia, and top investment priority of foreign investors.
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