Home Credit

Home Credit wants to change the way the world shops by delivering consumer finance products that are readily accessible and affordable for customers. Home Credit Group employs numerous processes and solutions that it centrally develops and then adapts to each market. By employing this strategy, Home Credit manages to remain exceptionally nimble and innovative even in the constantly evolving digital world where advanced technologies and data analysis methods set the stage for a responsible, inclusive approach to customer credit services.

Home Credit Group HCGBV is a parent company organised into several regional groupings. It holds equity interests in leading consumer finance companies in nine countries. Over its decades of operations, the company has developed a broad range of innovative and affordable financial services and solutions that are adapted to the cultural, social, and economic nuances of each of the global markets where it maintains a presence.

The group operates in countries with a combined population of around 3.4 billion, where the growth potential is high, GDP increases are above average, and the consumer finance penetration rate is low. Home Credit Group companies were serving nearly 14 million active customers in all their markets at the end of 2021 and were among the largest and best-ranked brands in point-of-sale financing.

The group’s goal is to provide highly competitive services and to maintain a high level of agility and innovation in a constantly evolving digital world. Advanced technology and easy-to-understand mobile apps offer inclusive access to credit services and provide customers who are unable or unwilling to use standard banking tools with first experience taste of credit and financial products. Digital platforms process large volumes of data, arming the company with the effective predictive tools it needs to make responsible lending decisions.

Home Credit Group offers three main types of unsecured consumer finance products on its markets: non-bank loans (noncash credit to finance the purchase of durable goods), multi-purpose or cash loans, and revolving credit products. In addition to loans, Home Credit offers customers complementary products and services, such as reinsurance and third-party insurance distribution. The company’s product strategy aims to maintain high customer loyalty by offering services that cater to the evolving lifes needs across multiple age groups and situations in life that are faced by all age groups.

In 2021, Home Credit’s markets were severely impacted by the global COVID-19 pandemic. The company responded by accelerating the roll-out of its digitalisation plan. This included the deeper integration of mobile apps to enable an enhanced customer experience and interaction in the repayment of loans and the purchase of consumer goods through online retail partners. The uptake of these apps underlines the speed and depth of Home Credit Group’s digital transformation. Over 80% of the company’s business is now conducted via mobile devices. Home Credit’s apps have over 106 million registered users globally. In 2021, digitalisation also opened the door to a dramatic reduction in costs by cutting the provision of sales guidance by 54 per cent.