UPDATE 1-UK Provident home credit collections return to pre-virus levels, 2020 on track

(Add details of statement, CEO quote, background) Nov. 4 (Reuters) – Door lender Provident Financial Plc said on Wednesday that the collection performance of its mortgage business was now in line with pre-pandemic levels, with the company ready to meet market expectations for This year. “In terms of the Group’s performance during the quarter, business […]

How Home Credit Automates Its Loan Disbursement Process, IT News, ET CIO

From self-driving cars to robots that pick and pack in retail warehouses to virtual assistants like Alexa and Siri, automation is everywhere. The auto loan industry is no different. Automation also has a positive impact for lenders and borrowers. Home Credit, a local branch of the international consumer credit provider, uses a blend of lending […]

Home Credit Group to Extend Credit in Eastern Europe and Asia with FICO’s AI-Based Optimization

LONDON, October 22, 2020 / PRNewswire / – Strong points: FICO® Decision Optimizer will help Home Credit Group effectively tackle saturated and growing markets Pilot with targeted loan portfolio in Russia enabled a significant improvement in profitability and an increase in volumes The Home Credit Group risk management team will first use the tool to […]

Home Credit India Launches New Products As Part Of Insurance Portfolio

Home Credit India, a local arm of the international consumer credit provider with operations in Europe and Asia and committed to fostering financial inclusion in India, today announced the launch of its new products as part of its insurance portfolio for existing and new customers. New products include family health insurance and pocket insurance from […]

Consumer lender Home Credit posts loss of 619 million euros in first half

PRAGUE (Reuters) – Consumer lender Home Credit Group on Friday recorded a first-half loss of € 619 million on provisioning to cover loan losses as the coronavirus pandemic hit consumers. The lender whose operations include China, India and other Southeast Asian markets, Russia or the Czech Republic, said it had reduced its loan portfolio by […]

Home Credit layoffs: Home Credit India lays off 1,800 employees

NEW DELHI: Consumer loan finance company Home Credit India said Thursday it has cut its workforce by 1,800 employees due to the slowdown caused by the COVID-19 crisis. “The unprecedented coronavirus pandemic has affected every aspect of our lives. It has had an impact on each of us, our families, our customers, partners and businesses. […]

Impact of Covid-19: Home Credit India to give pink slips to 1,800 employees

Consumer loan finance company Home Credit India said Thursday it will lay off more than 10% of its 16,000 employees (1,800 employees), even as the company reworks its business strategy. “The unprecedented pandemic has affected all aspects of our lives. It had an impact on each of us, our families, our customers, our partners and […]

Home Credit India lays off 1,800 employees

NEW DELHI: Consumer loan finance company Home Credit India said Thursday it has cut its workforce by 1,800 employees due to the slowdown caused by the COVID-19 crisis. “The unprecedented coronavirus pandemic has affected all aspects of our lives. It has had an impact on each of us, our families, our customers, partners and businesses. […]

State agrees to settle Pioneer Home tariff case

Alaska Attorney General Kevin Clarkson. Juneau, Alaska (KINY) – A case that challenged the legality of massive rate hikes at Pioneer Homes in the state has been settled out of court, Attorney General Kevin Clarkson said. Many of the issues raised in the case were muted when the governor enacted House Bill 96 last week. […]

Subprime Loans For Home Credit Gambling In India

“We have given up on trying to decode what Home Credit does,” said the founder of a company that helps non-bank lenders raise funds. To be fair, there is nothing traditional about the way the eight-year-old Czech Republic-based Non-Bank Financial Corporation (NBFC) has built its lending business in India. Home Credit, who arrived in India […]