Connect with us

Hi, what are you looking for?

HEADLINES

Home Credit eyes more product segments as nationwide expansion continues

Prague-based finance technology (fintech) company Home Credit is looking to grow its market share further as it explores new product segments for financing.

Prague-based finance technology (fintech) company Home Credit is looking to grow its market share further as it explores new product segments for financing.

This comes as Home Credit Philippines (HCPH) continues to strengthen its nationwide presence, with Mindoro Occidental and Ifugao being the latest provinces to open their doors to HCPH in March. HCPH is now in 47 provinces nationwide.

HCPH chief executive officer Annica Witschard noted that although smartphones and tablets remain to be the company’s go-to commodities for financing as consumer demand remains high, the company has already expanded its product portfolio to include furniture, e-bikes, power tools and sporting goods, with more segments being closely looked at.

“Our smartphone financing segment, in partnership with leading brands and retailers, has been very successful, and is one of the reasons behind our success in the Philippines,” Witschard said. “But we also know that there is a lot of demand for Home Credit financing for many other product segments. So as we continue to drive business in the smartphone segment, product diversity will be another key for us. It’s just a matter of finding the most strategic products and services to add to our portfolio.”

Advertisement. Scroll to continue reading.

Witschard explained that as these new products are rolled out, customers can expect the same fast process that Home Credit has become known for. Unlike many “traditional” financial institutions, Home Credit is able to provide consumer loans faster and with fewer requirements. “All you need to do is walk into a store, pick the item you need, apply for the loan right in the store using just two valid IDs, get the result of the application in twenty minutes, and this will be the customer experience even with our upcoming products,” she said.

Already considered as a fintech giant in countries such as China, Vietnam and Indonesia, Home Credit has grown in popularity since arriving in the country in 2013. 2017 was considered a landmark year as Home Credit doubled its customer count in the country from one to two million in just six months while expanding its presence nationwide. The company is now present in nearly 4,000 stores, including the biggest malls, in 47 provinces throughout the country.

Advertisement
Advertisement
Advertisement

Like Us On Facebook

You May Also Like

HEADLINES

This latest expansion, which comes on the heels of Yuno’s earlier launch in Malaysia and Indonesia, emphasizes the company’s commitment to enhancing support and...

HEADLINES

Since HCPH opened its business in the country in 2013, the company has taken great strides to promote inclusion; both through equal opportunity employment...

ELECTRONICS

Home Credit, one of the country’s leading consumer finance companies, offers a guide to household devices you can replace for an energy-efficient lifestyle.

HEADLINES

The Philippine fintech sector faces hurdles, dealing with challenges that impede its progress. These obstacles include the absence of a centralized database, reliance on...

HEADLINES

Through its platform, Shoppingmall.ph, you can effortlessly swipe through to explore unbeatable deals with a 0% installment rate on various gift ideas, especially smartphones,...

HEADLINES

The Head of Public Relations of Home Credit Philippines has been elected to serve as a Board Member in the Philippine Association of National...

HEADLINES

For the first time in the leading consumer finance company's history, nationwide celebrations in various resorts and convention centers were organized for its employees, their...

HEADLINES

Home Credit saw a significant upswing in purchases across different categories, showing a shift in what consumers prefer. With a focus on empowering Filipinos...

Advertisement