AsiaCollect acquires first consumer non-performing loan portfolio in Vietnam

  • Current portfolio acquisition helps over 16,000 debtors become debt free through a customer-oriented, digital collections strategy
  • Part of AsiaCollect's goal is to help banks and non-bank consumer lenders in its core markets of Indonesia, Vietnam, and the Philippines manage their non-performing loan portfolios and unburden their debtors

SINGAPORE, July 16, 2018 /PRNewswire/ -- AsiaCollect, a pioneer in providing integrated Credit Management Services (CMS) in Southeast Asia, has acquired its first consumer non-performing loan (NPL) portfolio valued at USD6.5 million face value from a leading global financial institution in Vietnam.

Mr. Tomasz Borowski, CEO and co-founder of AsiaCollect, said, "We see immense opportunity in helping banks and consumer lenders manage bad loans by changing the way they approach debt collection. By purchasing NPL portfolios, we enable them to focus on their core task of lending and offering services to consumers. At the national level, it increases capital resources for lending and strengthens a country's economic growth. We are focused on executing on many more such transactions going forward."

In addition to purchasing portfolios and carrying out collections on behalf of lenders, AsiaCollect also licenses its technology using a SaaS model and provides bespoke advice for clients with nascent in-house collections processes. AsiaCollect uses proprietary technology to streamline and automate a majority of debt collection processes, while minimising the need for traditional field collection which presents a reputational risk to lenders and an embarrassing, hostile experience for consumers.

Over 60 percent of AsiaCollect's collections processes are currently automated, with the company targeting full automation - including employing behavioural psychology that allows call center operators to communicate effectively with different personality types -- within the next 12 months. At present, AsiaCollect reaches out to customers through automated SMSes, interactive voice recordings, and predictive dialing systems, which increase not only the likelihood of reaching the customer, but also the recovery rates for each targeted customer.

AsiaCollect is currently managing over USD 45 million in debt and working closely with close to 20 companies in Vietnam, the Philippines and Indonesia, including banks, financial institutions, non-bank lenders, and digital lending startups. Additionally, AsiaCollect is helping over 112,000 debtors across the three markets become debt free.  

AsiaCollect is led by an international leadership team with decades of experience in CMS and consumer finance in emerging markets. The team is supported by a highly experienced data science team in Ukraine that brings with them strong knowledge and expertise in pricing consumer NPLs through business cycles.

About AsiaCollect

AsiaCollect is a pioneer in providing integrated world-class Credit Management Services (CMS) in Southeast Asia. Focused on the $45 billion growth opportunity in non-performing consumer loans, AsiaCollect delivers maximum CMS efficiency for its clients through an integrated product offering, which includes CMS OutsourcingCMS Advisory ServicesDebt Purchasing, and Software-As-A-Service (SaaS). AsiaCollect ensures that every debt solution reaches an optimal outcome for debtor as well as creditor, and operates on a world-class Code of Ethics, backed by a stringent set of operational risk control processes. Headquartered in Singapore, the Company is active in Vietnam, Indonesia, and the Philippines. AsiaCollect was seeded and developed by FORUM, the largest fintech venture builder in Emerging Asia.

About FORUM 
FORUM is the largest fintech venture builder in Emerging Asia, focused on the $500 billion growth opportunity in the consumer lending vertical. FORUM identifies unique market segments for rapid value creation and build market-leading companies for capital gain. FORUM is currently developing four companies across Asia: CredoLab, AsiaCollect, SolarHome and AsiaKredit.  The company is headquartered in Singapore and led by founder and CEO Greg Krasnov.

Media Contact 
Keshia de Vries, PR Manager, FORUM
Mobile +65 9479 2366