F88 earns Client Protection Certificate

Wednesday, Jun 29, 2022 07:36

An F88 branch. The company has nearly 700 branches so far. — Photo F88.vn

The financial services company F88 has been awarded the distinguished Client Protection Certificate by the Smart Campaign for its efforts in client protection.

The certification marks the second time the company was honoured by Smart Campaign as having met seven principles set forth by the global initiative.

The seven principles include Appropriate Product Design and Delivery, Prevention of Over-indebtedness, Transparency, Responsible Pricing, Fair and Respectful Treatment of Clients, Privacy of Client Data, and Mechanism for Complaint Resolution.

An F88 representative underscored the incorporation of the principles in its business philosophy as the key factor behind its competitive advantages and strong corporate culture. 

The representative also revealed the company managed to keep total credit risk below one per cent in the past three years amid the COVID-19 pandemic, allowing it to keep excessive indebtedness at bay. 

F88 was first certified in September 2019 and the then certification took effect until October 2021. Recently, the company has been informed that the date will be extended to June 2025.

It is also worth noting that F88 was assigned a credit rating of BBB with stable outlook by Fiin Ratings last year and it is the only financial institution in Việt Nam earning the certificate to date. — VNS

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