A First Data Client Success Story:

FE CREDIT BROADENS PRODUCT OFFERINGS TO CONSUMERS IN VIETNAM

FE CREDIT is a consumer finance company in Vietnam that focuses on cash loans, two-wheeler loans and consumer durable loans with installments. As the pioneer in the consumer finance industry, FE CREDIT has established a solid foundation, leading the unsecured consumer finance market in terms of both scale and quality. It offers simple and quick lending processes, flexible products, competitive interest rates, dedicated customer service, comprehensive cooperation programs, effective marketing strategy and sophisticated risk-management policies. Its simple and quick three-step approval procedures have also made a strong impression among customers who are new to bank loans.

Recently FE CREDIT was granted a credit-card-issuing license by the State Bank of Vietnam, and it was looking to provide credit cards to 400,000 customers, during the initial phase, as a value-add to its existing product offerings.

By utilizing FirstVision, FE CREDIT was able to leverage First Data’s extensive payment experience in building a proven, flexible and scalable platform that would enable the company to reduce time to market, mitigate risk and accelerate the speed of innovation. As promised, First Data completed

delivery on time—a very short delivery window of four months from signing to

completion. We are confident in its support both now and in the future

as we broaden our portfolio.

Lo Bang Giang, Chairman of FE CREDIT

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ClientVPBank Finance Company Limited (through its brand “FE CREDIT”)

ChallengeEnable FE CREDIT to be the first consumer finance company in Vietnam to issue credit cards

SolutionFirst Data FirstVisionTM

Results5,000 cards issued within two months

1,500-2,000 new cards issued per month in the first quarter after launch

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The Challenge Consumer lending accounts for just 6 percent of total outstanding loans in Vietnam, as opposed to 15 to 20 percent in many countries. According to the Banking Strategy Institute, as a result of banks focusing on consumer lending in recent years, credit has been growing at nearly 20 percent each year over the last seven years. Consumer credit has great potential and is expected to grow strongly in Vietnam.1

Commercial banks and finance companies are the two major providers of consumer loans in Vietnam. In the last few years, several commercial banks have set up subsidiaries specialising in consumer lending. Since mid-2014 the State Bank of Vietnam has imposed stricter rules on consumer lending. Current regulations allow commercial banks to provide consumer loans only to “standard” customers. In order to offer these loans to “non-standard” customers, banks are required to set up subsidiary finance companies.2

As the first consumer finance company in Vietnam to provide credit cards to its customers, FE CREDIT needed a trusted payment expert with extensive experience to support the new initiative with scalability, stability and flexibility.

The Solution After careful consideration, FE CREDIT concluded that First Data’s FirstVision was the right choice for its business needs. FE CREDIT is able to leverage First Data’s global experience, as well as a world-class, secure and scalable solution. FirstVision enables card issuers to launch and manage their entire payments portfolio securely, scalably and reliably, confident in the expertise, experience and service provided by First Data. FirstVision is a PCI DSS compliant multi-product, multi-currency, multi-language solution that enables issuers to scale across segments and markets confidently.

The Results First Data’s expertise and experience enabled FE CREDIT to focus on building its business. As a result, FE CREDIT has successfully broadened its product offerings to grow the business rapidly and dramatically.

In addition to becoming the first consumer finance company in Vietnam to provide credit cards to its customers, FE CREDIT has also reaffirmed its long-term commitment to continuously innovate products and services that help the Vietnamese people solve financial challenges and improve their quality of life. The success of FE CREDIT has set an inspiring example for other consumer finance companies that aspire to expand into the credit card market.

FirstVision is the First Data processing solution leveraging VisionPLUS. 1http://vietnamnews.vn/economy/276622/experts-optimistic-about-consumer-finance-industry.html 2Circular 36/2014/TT-NHNN, http://asemconnectvietnam.gov.vn/Law.aspx?ZID1=10&ID1=2&MaVB_id=2274

First Data is a trading name of First Data (Singapore) Pte. Ltd., a private limited company incorporated in Singapore (company number 200506823H) with a registered address at 150 Beach Road 04-05 Gateway West, 189720, Singapore.

© 2016 First Data Corporation. All rights reserved. All trademarks, service marks and trade names referenced in this material are the property of their respective owners. 210350 2016-06

The First Data team has demonstrated a tremendous sense of professionalism and commitment to its client.

It has been a very successful project and positive experience even with a tough deadline and aspirational target. We are glad to partner with First Data. The future of the partnership holds enormous promise and we are keen to explore more opportunities together.

Kalidas Ghose, CEO of FE CREDIT

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A First Data Client Success Story: FE CREDIT