With a team of 12 people, FABA has supported RAP Bank in successfully digitalize the loan application process for both service providers and borrowers.
Lack of access to personal loans and banking-service providers has long been a critical pain point for Vietnamese consumers. Recognizing this, our clients - with their very own creative minds - initiated a financial solution to solve that very issue. Our client identified the barriers that hindered rural and urban customers from connecting with banking service providers for mutual benefit.
Our client aimed to enable consumers to have access to the perfect loan packages. So, together with the support of the FABA Technology team, Rapbank was born to make life easier, and better.
Rapbank is an online personal-banking application created to provide a platform where borrowers and banking service providers (also known as loan providers) can connect to each other. The application has two versions; one is developed for members of the public and the other is for bankers. All documentation and preliminary verification are conducted online.
Clients can request online consultation before applying for a loan so they know in advance what documentation is required. The clients will receive notice if they are eligible for the loans. The process eliminates the need for customers to commute long distances to access the banking services or even just complete the application process.
Rapbank also provides a medium for banking service providers to distribute and promote loan packages and other services, all of which were previously unknown or perceived as too complex by clients.
Find the right loan package, banking service providers and complete the application in just a minute.
Find the right deposit package and make your deposit in a few short clicks.
Peer-to-Peer lending allows two members of the public to be lending partners. One provides the capital resources and the other can apply to borrow those resources. Transactions, applications, lending amounts and interest rates will be verified by Rapbank to ensure they complies with government laws and regulations.
Receive direct and personalized consultation via Rapbank. No more fuss and bother from waiting in line.
Client app and banker app
Besides the web application, clients and bankers can connect and communicate via mobile app as well.