Internship Report Studying The Process Of Doing A Financial Consultation In Dragonlend.pdf

- Headquarter address: Sofielundsgatan 5- 753 23 Uppsala- Sweden- Working location: Floor 20-22, TNR Tower 180-192 Nguyen Cong Tru,District 1 - Ho Chi Minh City, Vietnam - Position: Sale

VIETNAM NATIONAL UNIVERSITY

VIETNAM NATIONAL UNIVERSITY HCMC UNIVERSITY OF TECHNOLOGY SCHOOL OF INDUSTRIAL MANAGEMENT

HCM CITY, 08/2019

First of all, I feel so grateful to have been given the opportunity to complete a two-month internship at DragonLend Thank you Mr Ta Hung Anh for all the support you have given me throughout the internship Thanks to your guidance, I have learned so much and appreciate the time you spent teaching me to improve parts of my report

Secondly, I want to express my deepest gratitude to Ms Sophie Jewsbury for considering me an eligible candidate for this internship Working with you has taught me more about business administrationthan years at HCMUT Your breadth of knowledge, as well as the varied tasks that your firm manages provided an environment that was both exciting and challenging Additionally, the rest of our team were welcoming, helpful, and offered me ongoing support

2.2.5.3 DragonLend marketing channel 153.1 THE PROCESS OF DOING CONSULTATION 173.1.1 Overall process of phone consultation in personal cases 173.1.2 Tasks and performance standard 173.1.3 Analyzing my workload in the internship 193.1.3.2 Advantages and disadvantages of working as a financialconsultant in DragonLend 20

CHAPTER 1: INTRODUCTION

1.1 INTRODUCTION

The purpose of this internship course is to experience the finding working environment and gain skills that can be applied to

fact-my future jobs Moreover, I want to improve and practice

professional working behaviors such as dressing, punctuality, communication and attitude in an international organization Finally,

I hope that during the time working as an intern, I can build

relationships with those who may support me for my future career

In any organization, the sales department plays a pivotal role in the success of the business The unique and important role of sales

is to bridge the gap between the potential customer’s needs and the products or services that the organization offers which can fulfill their needs Sales play a key role in the building of loyalty and trust between customer and business Trust and loyalty are the main reasons why a customer would choose to recommend your company

to a friend or family member, or write a great review of your product

or service

In the field of finance, salesperson is working as a financial consultant who is responsible for helping clients manage their finances and finding financial sources Financial consultants work with companies or individuals to plan for their financial futures by offering information, guidance and financial advice Personally, based on my strength and ability I am interested in being a

salesperson that lead me to become a sales intern in DragonLend.According to the latest count of State Bank of Vietnam, from 2014

to 2018 the debt balance for consumer credit in Ho Chi Minh City hasgone up significantly Particularly, in 2014 the total amount of debt was approximately 90.300 billion VND, however at the end of 2018 that figure reached the peak at 480.000 billion VND It means that expected credit balance increased by 14.51% In addition, based on the credit institutions’ evaluation, the demand of customers on the use of products and services for loans, deposit and payment in the first quarter of 2019 increased in comparison with the previous quarter and it is expected to continue to grow in 2019 The demand for loans continues to be higher than the demand for deposits,

8

payments and cards in the first quarter and subsequent quarters of the year.

Not only for personal cases, small and medium-sized companies (or SME in short) also play a vital role in a nation’s economy In Vietnam, SMEs account for 98% of total corporates and contribute to 40% of the GDP in 2017 As the number of these companies

increases, the need for working capital also rises ‘SME lending’ - in particular, the practice of providing loans to support day-to-day business activities - has become in increasing demand

So, who provides for SMEs lending? The question is easily answered at first: Banks! Businesses need reliable finance partners with transparent terms and payment schedules However, such financing is more accessible to some businesses than others Medium-sized businesses may receive an ad-hoc contract, and require faster financing to fulfill new orders Micro-enterprises often lack sufficient proof of credit-worthiness, such as collateral, to receive bank financing Many enterprises in Vietnam turn to informal credit sources, with non-transparent terms

In this context, DragonLend helps Vietnamese personal and SMEs get access to banking finance Customers need to apply through our online platform, are quickly assessed and are matched with a finance partner that suits their profile This means that rates are favorable, and are calculated according to clients’ needs Loan sizes can range up to 5,000 USD for personal (48 hours in length) and 50,000 USD for SMEs which can be 3-6 months in length The application form takes 10 minutes, and the whole process is fast

We aim to disperse the funds within a week Vietnamese businesses need fair access to finance We help SMEs get short-term loans so that they can grow and thrive Our credit scoring

mechanism uses alternative data to rate SMEs' credit worthiness without need for collateral This means SMEs can receive loans that are fast and fair

1.2 SUBJECT AND SCOPE OF RESEARCH

❖ Company: Dragon Wave Consultancy Limited Company (One ofventures which belong to Fram Ltd Vietnam )

9

- Headquarter address: Sofielundsgatan 5- 753 23 Uppsala- Sweden

- Working location: Floor 20-22, TNR Tower 180-192 Nguyen Cong Tru,District 1 - Ho Chi Minh City, Vietnam

- Position: Sales Intern

1.3 STRUCTURE:

There are three chapters:

- Chapter 1: Introduction

- Chapter 2: Company Introduction

- Chapter 3: The tasks and responsibility of a salesperson in DragonLend

1.4 REPORT SCHEDULE AND ACHIEVEMENTS

Table 1 Report schedule

- The process when calling customer (I learn toknow which information need to be collected

to match them with suitable bank) + Ask to confirm their names + Which company they work at / How longhave they work there

+ Customers' income + Do they have Health insurance (provided from company) or license of motorbike + Do they have debt in other banks at present

- TP Bank ' s requirements:

10

- What I do during the appointment: + I will

ask customers bring the orginal and the copies

of documents that the bank require to check Dragonlend will just keep the copies + Help customers to fill the form , ask about their individual information ( name, address, status, their acquaintances , especially their income and other debt if they have ) + Customer need

to take pictures with the bank card and a picture with salesperson + After that I will post their information to TP bank' system, wait for assessing

- What I do in the event: + I work as a

receptionist in the event with MB bank and customers + When customers come, ask their name and ask them to write their name in the form, give them the name tag + Show them theway to the meeting hall

11

our office to help

them fill the form

( TP bank and

vietcredit ) and also

take picture with

sales person

- Portal website: This is a website where we

can post customers' information and documents

so that the bank can check and appraise In thiswebsite, we need to input some basic information of the customer, for example: theirnames, location, phone number Additionally,

we also need to post the photos of their documents (family record book, ID , Health insurance ) After submitting everything, we will wait for the bank' decision whether they can give money to our clients or not Sometimes, if there is a mistake, or they need more information, the bank will comment and give us a note so that we can adjust the file

- Vietcredit 's requirements: + For a person

who have proof of their income ( work for a company over 3 months ) : Vietcredit requires customers to have 1 document to prove that their income is stable and 1 document of their workplace * Documents to prove income include: SMS of salary / a statement of their wages / email of detailed information about t salary / confirmation of salary ( choose 1 of them ) * Documents to of customer workplace:Labor contract / Health insurance / Offer letter / Employee identification ( choose 1 of them ) * Interest per year 24% - 55% + For a person who cannot prove their income: Vietcredit requires customer to have labor contract / Health Insurance / Offer letter * Interest per year : 55% - Customers' documentsare taken photo together with ID card of salesperson

- Sales code is provided for the salesperson so

that they can earn commission per successful cases - Documents used to create a sale code: + ID card, photo of family record book ,

12

- Know more about

the requirements of

Lotte and Shinhan

bank

personal photo 3x4, certificate of education

- Requirements for Shinhan bank (personal

cases) Customers need to: + Work for a

company at least 6 months + Salary is paid by the bank ( Interbank transfer ) & Salary is above 7 million + Has a statement in the bank + Labor contract + Must be an office staff * Interest per year: 17% - 22%

- Requirements for Lotte Customers need to have: + Have a loan in other bank ( means that

have CIC ) + Already paid the debt at least 6 periods

FE, Home and

Mirea Asset bank

- After one day posting the customers application to portal websites, the bank gave usfeedbacks:

+ Mistakes/ Lack of information: They will ask us to adjust the customer application and submit more evidence to prove customers' income as well as workplace In that case, we need to contact to our clients to ask them provide more information

+ If there is not any mistakes has made: the bank will proceed to the next stage as what we call assessing They may call the customers to confirm some information or even come to their house to check

* Some of our customers have been rejected because they give wrong information ( notice

by the bank )

- FE and Homecredit requirements:

+ FE support our clients by giving them the

13

fastest way to get money by using caver of motorbike (the motorbike should be bought no more than 5 years) They need to input some basic information such as ID card, address, cavet of motorbike The process will just take only 15 minutes to have the result

- Homecredit also have an app that customers

can download and input their information, just only 3 steps to provide information After that, the result will be given

- Mirea Asset is also easier for our customer to

get the loan Customers need to provide: + ID cards

+ Family record book + Electricity bills ( 3 months )6

+ First of all, customers use their phone

to access Messages + Type “ THUEBAO TTTB”

+ Send 1441 + The system will send back the confirmation for the phone number 's owner

* As usual, this kind of data need to be take a picture together with sales ID card

- Training session of DragonLend:

14

+ In customer service, we focus on how

we arrange and schedule for the customer come to our office as many as possible and after sales service ( how to do the follow up efficiently )

+ In problem solving, based on real situation, we discuss about the reason why our customer cancel the meeting / what are the reason and the solution for that

- VP bank training session:

+ Learn about many kinds of product in

VP bank that they usually offer for the SME + VP bank Unit Selling Point + How our salesperson work with VP bank to create an effective system7

+ Owner of the shop must have a family record book in HCM+ The loan size range from 100-200 millions

+ The width of street to their shop is equal or above 3 meters

+ Customers have business registrationcertificate

+ Customers certificate of marital status

15

5/8 – 9/8

- Do the bank

follow up

- Review the result

from July and 2

CHAPTER 2: COMPANY INTRODUCTION2.1 COMPANY OVERVIEW

2.1.1 Fram^’s history

Fram^ is an online IT development and advisory company with offices in Sweden (Stockholm) and in Vietnam (Ho Chi Minh City) Wehave a burning passion for developing excellent online IT solutions with a founding team that has built and managed market leading online businesses both in Sweden and in South East Asia We help companies in Scandinavia and Northern Europe to develop world-class online IT solutions in a professional and cost efficient manner.Fram^ cultivates a unique company culture with a truly energizing international startup vibe Today, fram^ is one of Vietnam’s fastest-growing technology businesses – but our name dates back to 1893 “Fram” - meaning “forward” in Swedish and Norwegian - continues to inspire us to take the path untrodden, and set landmark achievements for ourselves and our clients

Fram^ Chairman Christopher Beselin had previously built and managed market leading online businesses both in Europe and Southeast Asia This included building Lazada.vn from scratch and growing it to become Vietnam’s leading online retailer The team grew to include partners with extensive experience of online business and has now expanded from its original e-commerce specialism to span all five core pillars of software engineering.Our Scandinavian-styled offices in central Saigon serve as an energizing and inspiring base from which to support business across Southeast Asia and Northern Europe We serve clients of all sizes, and we are proud to count the likes of Samsung, Bubbleroom, Hansoft and Publicis Group amongst our partners

2.1.2 The fram^ leadership team

Up to now, Vietnam has approximately 120 Fintech startups, of which payment and lending are two segments that have most active companies With 35 startups and platforms, payment is the segment that has the most participating Fintech companies Besides MoMo - one of the most "invested" startups in Vietnam, Vietnam market alsohas the appearance of Moca mobile payment application, GrabPay e-wallet

P2P Lending is the second largest market segment with more than 20 startups, including Tima, Loan, Growth Wealth Next is Blockchain / Digital Cash with 17 startups In addition to the market, there are a number of other segments such as community capital, comparison platform and digital bank

18

2.2.2 Introduction of DragonLend

Understanding the trend of the market, Fram^ has opened a venture specializing in financial consultation which promising to bring more profits to the parent company – DragonLend

In the time when most Vietnamese enterprises have not yet accessed loans in the most intuitive way, DragonLend was

established with the aim of helping SMEs achieve short-term loans for their growth and development However, small businesses are often inadequate to prove authenticity including collateral to receive business loans from the banks DragonLend will support small and medium enterprises in Vietnam to actively access financial resourcesfrom the banks

The application form will be quickly evaluated and transferred to the appropriate financial partner This action means that the interest rates will be assessed to provide optimal benefits and in accordance with business requirements Completing the application form takes only fifteen to thirty minutes and the approval will also take place promptly

Located in Nguyen Cong Tru Street, our office is situated in the financial center of Ho Chi Minh City where we easily associated with many different banks, for instance MB, VP bank, OCB etc

2.2.3 Our value proposition

2.2.3.1 For finance partners:

We access to strong SME customer references that are credit- worthy and tailored to your requirements ( pre-screen byus) Additionally, by running advertisements by our agency and ourselves, we have a variety sources of customer It can be online and offline Particularly, customer can fill in the

registration form to receive a consultation from us on the website Besides, we also send our email to potential customerswhich may attract them We believe that the quality of our service is in a high standard, not because our salespersons are trained carefully but also we have clearly process and

procedure

19