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Home Credit now at the City of Smiles
24.02.2017

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Never miss an update about what’s new in Home Credit

Home Credit now at the City of Smiles

Published on 24.02.2017

 

Bacolod City of Smiles

Visayas expansion continues as Home Credit launches in Bacolod

With Home Credit recently launching its brand-new “smiley” logo, it only seems fitting that the company should launch in a place known for its smiles.

That’s exactly what it did, as Home Credit recently began its operations in Bacolod, famously known as the City of Smiles. Although operations have just begun, Home Credit now offers affordable loans in 30 partner stores in the Negros Occidental capital, including SM Bacolod. So far, more than 30 local employees have been hired, providing big smiles along with top-notch customer service.

According to Home Credit’s Head of Roll-Out Andrea Halkova, both the number of partner stores and hired employees will certainly rise in the coming months.

“With our new branding, along with Bacolod’s, it’s just a perfect match,” remarked Home Credit Head of Sales Adam Bernasek. “Our goal is to help Filipinos to avail their dream gadgets enjoy their lives today, and we are excited to do that for our customers in Bacolod.”

“And from a strategic standpoint, our expansion here is crucial, given that Bacolod is one of the most populated and most progressive cities in the whole region,” he added.

Home Credit’s launch in Bacolod is the latest in the company’s fast and strong expansion in the Visayan region, after successful launches in cities such as Cebu and Iloilo.

Aside from the affordable monthly payments, Home Credit’s customers in Bacolod have even more reasons to smile, as they can also enjoy a host of “safe lending” features that Home Credit offers for all its loan products, such as the option to avail of insurance along with the loan; a 15 day “cooling-off” period that allows customers to pay back the full loan at no added cost within this time period; and a loan “safety guarantee” that promises full transparency on loan products with no hidden charges.

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Home Credit, CIC Formalize Ties
22.02.2017

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Home Credit, CIC Formalize Ties

Published on 22.02.2017

 

Credit Information Corporation

Sharing of “unbanked” customer data seen as big boost to gov’t credit bureau efforts

Makati, Philippines – Home Credit, a Prague-based consumer finance company that helps customers avail of smartphones, appliances and other gadgets through installment, recently formalized its partnership with state-run Credit Information Corporation (CIC), with the sharing of its Philippine credit database to CIC now underway.

Home Credit Philippines’ (HCPH) data sharing, which will happen in stages, is in compliance to Republic Act 9510, which requires banks, finance companies and other credit facilities such as utility companies to submit data related to their clients’ credit history to the CIC. HCPH was one of the very first companies to become compliant.

In a simple recognition ceremony held at the CIC office in Makati, Securities and Exchange Commission (SEC) chair Teresita J. Herbosa, who also serves as CIC Ex-Officio Chairperson, underscored the key role that non-bank institutions such as Home Credit play in promoting greater financial inclusion in the country.

“Our work gets easier because of [companies such as] Home Credit Philippines, one of the leading compliant entities submitting their credit database, who from the very start had nothing but the spirit of cooperation and partnership with the CIC,” chair Herbosa said.

“We’re pioneers in the field of credit registry, and Home Credit is a pioneer in terms of the financing business in PH, especially considering the demographics of their borrowers. Many of them are younger people, and these are the ones who we expect will be full-fledged users of our system,” Herbosa added.

Credit Information Corporation (CIC) President and CEO Jaime P. Garchitorena remarked that “Home Credit has a lot to do with the confidence that we have in moving the CIC forward, [since they were] one of the first organizations to engage with us. They have played a huge role in providing alternative methods for giving credit, which gives opportunities to people who are not yet included in the system.”

“The fact that a very successful institution such as Home Credit is willing to engage with us shows that the CIC has a firm place in expanding the realm of credit, not just as a business, but in making credit accessible to anyone,” Garchitorena said.

For its part, HCPH CEO Annica Witschard remarked that “in every country that Home Credit is in, we firmly believe in the importance of having a system in place to promote financial inclusion, and ensure that more and more people are given access to financial tools.”

“CIC’s work in creating a unified credit database will surely be beneficial for everyone, most of all ordinary Filipinos, and we hope that this can develop as quickly as possible, and that the data gathered from all of these sources is as good as possible,” Ms. Witschard added.

As the number of the unbanked or financially excluded remains high, non-bank institutions, with their use of alternative data, a more liberal framework for lending, and more points of access, is seen to have a big role to play in making sure that more Filipinos have access to financial services. According to a recent survey by the Bangko Sentral ng Pilipinas, up to 86% of Filipino households do not have bank accounts, which is often a requirement for many loans.

“All too often, we’ve seen a ‘vicious cycle’ wherein people can’t get a loan because they don’t have a credit score, and they can’t get a credit score because they have never been approved for a loan,” Garchitorena said.

“Non-bank financial institutions can break this cycle, because they can provide credit opportunities for first-time and thin file borrowers, opportunities that might not be available from other bank based lenders. This opens the door to establish a larger credit footprint which in turn is important for a credit score,” he added.

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Home Credit is All Smiles with Rebrand
22.02.2017

Latest News

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Home Credit is All Smiles with Rebrand

Published on 22.02.2017

 

Home Credit Rebranding

With Home Credit’s new logo, HC takes on another meaning: happy customer

Their rebrand comes with a smile—in more ways than one.

Home Credit Philippines, a company that allows customers to avail of gadgets, appliances and other goods through installment with simple requirements, recently unveiled a new, modern look. It is part of a worldwide rebrand that includes Home Credit’s home country Czech Republic.

This comes as Home Credit continues to take on a “customer first” philosophy, and this direction shows in the company’s new logo.

The new Home Credit icon? It’s none other than the company’s own version of the classic smiley. This new look is much different from the old logo, which showed the very first-ever item bought via Home Credit: a refrigerator.

From products to people

“While our old logo put more focus on our products, our new symbol puts greater focus on what matters most—people,” remarked Annica Witschard, Home Credit Philippines (HCPH) CEO.

“At Home Credit, we like to say ‘HC means Happy Customer’, and we take that commitment very seriously. So beyond simply having a new look in all 2,000 of our partner stores, our new brand is also our way of renewing our commitment to our customers—that we will give them the best quality of service that they deserve,” she added.

Ms. Witschard explained that the company has been implementing new processes in line with their customer-centric approach. This includes implementing new communications channels such as web chat on the HCPH website, which allows customers to get real-time feedback on their inquiries, on top of the HCPH social media channels that are already in place.

According to Witschard, the company is “taking extra steps in training our customer-facing employees, such as sales associates and credit advisors, to be even better listeners and communicators, to understand where our customers are coming from and what kind of approach is best for them.”

Other new innovations include a special unit in the company which reviews cases of customers experiencing extraordinary financial difficulties, and try to find solutions for loan repayment.

Safe lender

These changes are on top of existing “safe lending” features that Home Credit offers to customers, such as the option to avail of insurance along with the loan; a 15 day “cooling-off” period that allows customers to pay back the full loan at no added cost within this time period; and a loan “safety guarantee” that promises full transparency on loan products with no hidden charges.

Enjoy your life today

The rebrand also includes a brand-new tagline for the Philippines: “Enjoy your life today.” According to Ms. Witschard, the new tagline aims right at the hearts of audiences, while still emphasizing Home Credit’s simple application process and fastest approval time in the market.

“We understand that when our customers purchase smartphones and other devices, they use these to enrich their lives, and often with loved ones, whether it’s taking selfies with the latest camera phone or watching TV with the kids,” Witschard said.

“And with Home Credit’s fast approval, you can bring home your gadget on the same day you apply, and have quality time with the family as soon as you get home.”

For more information on Home Credit’s latest promos, go to www.homecredit.ph.

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