International (EN)
Indonesia (ID)
India (EN)
On 09 October 2020, Flow acquired its first consumer loan portfolio in Indonesia valued at USD 43 million from a leading international multi-financial Lender. Two months on, Flow has just purchased more debt portfolios from two leading multi-financial institutions in Vietnam.
This also marks Flow’s first major debt purchases in Vietnam and these transactions further reinforces Flow’s position as the trusted partner to financial institutions to address the burgeoning Non-Performing Loans (NPLs) in Asia caused by the Covid-led economic storm.
According to CEIC, Vietnam’s domestic credit reached 386.6 USD bn in Jul 2020, representing an increase of 9.6 % YoY. Such large NPL portfolios force financial institutions to retain higher levels of capital, reducing their ability to provide new credit, potentially good investments are postponed or abandoned. Hence, deleveraging unsecured consumer portfolios is a straightforward process to strengthen cashflow and reduce losses from non-performing debt.
Tomasz Borowski, co-founder and CEO of Flow said, “Flow purchase portfolios of non-performing consumer loans (NPL) and recover them through ethical, tech-driven collection strategies and system. In staying true to our mission, we hope to take this opportunity as a platform to further educate borrowers on financial literacy and debt management.
“Our debt specialist support team works with borrowers to come up with optimal payment plans, thus helping them overcome their financial difficulties. At Flow, we are focused on executing many more of such transactions going forward in the new year.”
About Flow
Founded in 2016, Flow is a credit management company that is transforming the business of unsecured consumer finance through AI technologies and ethical practices in the APAC region. Redefining debt collection begins with creating personalised, digital-first experiences that help consumers overcome their financial difficulties.
Flow’s data-driven collection strategies have proven, remarkable recovery rates for top financial institutions and technology companies and have supported over 2.8 million consumers to date. Flow’s international management team has decades of experience in credit management services and consumer finance. Headquartered in Singapore, the company launched its first operations in Vietnam in 2016 and has since expanded to Indonesia and India.
