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FiinGroup (previously StoxPlus) is Vietnam’s leading integrated service provider of financial data, business information, industry research and other premium services. FiinGroup’s customers include domestic and foreign financial and investment institutions such as securities companies, investment funds, commercial banks, insurance companies, import-export enterprises, non-governmental organizations, and individual stock investors.
FiinGroup currently provides three main service categories
- Financial Information;
- Business Information; and
- Industry Analysis with a comprehensive database for Vietnam and more than 100 employees in Hanoi and Ho Chi Minh City.
FiinGroup helps customers analyze and make their decisions. Fiin’s customers include users from:
The financial sector includes: securities companies, fund managers, banks, insurance companies, financial research and advisory firms, and other financial and investment companies and institutions;
Service companies: production, trading, import-export enterprises, trade promotion organizations both domestically and internationally.
Vision is to be most trusted source of financial and business information supporting all types of data-driven decision making process in Vietnam
Missions: Mission is to Enlighten the Market. We’re on a mission to help investors and enterprises grow their businesses and gain competitive advantage with the trusted information and data provided by FiinGroup.
At FiinGroup, we believe in and respect the below core values governing our business:
- Continuous Innovation
- Inspiring Leadership
- Data Tells It All
II. BUSINESS OPERATION:
1. MARKET’S DEMAND:
In fact, the total consumer credit scale currently reaches VND 960 trillion, accounting for about 15.7% of the total credit balance of the whole system. Particularly, the group of consumer finance companies with credit scale reached VND 74 trillion and was the group of credit institutions with the highest growth rate of consumer credit debt in the last 3 years, an average of about 44%.
After conducting a market survey in the second quarter of 2018, the Financial Times (daily newspaper published in London and 23 cities around the world) said: Consumer lending in Vietnam may be just in the beginning. and will be driven by urbanization, rising incomes and the shift of the financial sector to the household sector. Meanwhile, according to Ban Viet Securities Joint Stock Company (VCSC), the scale of Vietnam’s consumer finance market has continued to grow strongly, estimated from VND 646,000 billion in 2016, will reach the milestone of 1 million billion. VND in 2019, with an average growth of 29% / year.
Besides, Statistics on consumer lending rates of financial companies in countries around the world show that the interest rates on some consumer lending products can be as high as a few tens of percent per year, even a few hundred. per annum, as some payday loans are offered in the UK with an interest rate of up to 500% per annum. On the other hand, consumer loan interest rates vary widely between different products and different customers depending on the nature of the product as well as the risk level of each customer. With such high consumer lending interest rates, it is still a problem causing many concerns for consumer lending activities, but it cannot prevent the inevitable development of this type of financial products. by the benefits it provides to meet the individual consumer needs before income can bring, helping low-income people to access financial services protected by law. , contributing to improving the quality of life of the people.
Understanding these difficulties, FiinGroup always strives to develop to give customers the best service
2. DEVELOPMENT MILESTONE:
Founded in 2008, FiinGroup (formerly StoxPlus) is a leading company in Vietnam in the field of providing integrated services in financial data, business information, industry research and premium services. other.
The company has successfully built diverse analytical and data platforms, based on a comprehensive and accurate financial database including data on stocks, bonds, industry information, IPOs, and purchases. mergers, acquisitions and many other macro data. FiinGroup is serving thousands of domestic and foreign financial institutions, including securities companies, fund management companies, banks, financial companies, insurance companies and domestic and foreign investors. foreign.
In addition, Fiingroup applies advanced technologies in data analysis automation and research to analyze hundreds of thousands of unlisted companies with diverse services from business information, credit reports. , to in-depth research reports. The company’s products support customers in all data-driven decisions to boost revenue growth, manage risk, cut costs and transform their businesses.
FiinGroup currently has more than 100 employees including data analysts, business analysts, market research experts and technology engineers – product development, working at its headquarters in Hanoi and spending HCM branch.
- March 2008: Founded as Vietnam’s first financial information vendor as ‘StoxPlus JSC’
- March 2010: Launched StoxPro Professional (then renamed as FiinPro Professional as currently), the first ever data and investment analytics tools in the market.
- March 2011: Established StoxResearch as the first independent research business in Vietnam focusing on market study and market entry services for foreign corporations.
- September 2014: Entered into strategic capital and business alliance with Nikkei Inc. and QUICK Corp. (Japan)in developing securities analytics tools and business information services for Vietnam.
- June 2015:
- Launched FiinPro ® Platform, StoxPro Professional premium version jointly developed by us and Quick Corp./Nikkei Inc. We establish a Business Information division providing the most comprehensive portal for business information.
- September 2015: Launched Business Information services including Business Risk Report, Credit Report, Company Research Report and customized research covering all private companies registered in Vietnam
- August 2018: Entered into Business Partnership and Data Vendor with the Agency for Business Registration (ABR)
- April 2019: Expanded business operations to new areas including risk-based data platforms, credit rating and technology-based data products. The company name is changed from “StoxPlus Joint Stock Company” to “FiinGroup Joint Stock Company”.
- The name change aims to expand business into new areas of expertise and brand restructuring.
- In addition, the name change is in the strategy of expanding the business to new areas of expertise such as data platforms for risk management, business evaluation, credit rating and high services. other levels. The company not only serves domestic and foreign financial institutions, but also targets clients in non-financial industries.
- FiinGroup’s shareholder structure has not changed. FiinGroup’s strategic partner Nikkei Group and Quick Subsidiary owns a total of 35.1%. The rest is owned by the company’s management.
- The corporate bond market of Vietnam has grown significantly in recent years. The market size at the end of March 2020 accounts for about 10.28% of Vietnam’s GDP 2019 with the participation of not only institutional investors but also domestic and foreign individual investors. Previously, Vietnamese enterprises were mainly dependent on bank credit channels or mobilized through issuing shares in the stock market, now clearing medium and long-term capital for the development of enterprises. Vietnamese enterprises are a new trend in the financial industry. In the context that the medium and long-term bank credit capital for enterprises is limited and the issuance channel via the stock market is not always favorable, the capital mobilization channel through corporate bonds is an option. of many Vietnamese businesses in different industries.However, the fundamentals to effectively operate the corporate bond market are still in the process of completion; including the development of the secondary trading market, standardization of information disclosure, improving investor knowledge and especially the implementation of an independent credit rating on the solvency of the application. issuers as well as the bonds themselves, especially with bonds that are widely issued to the public. Unlike stock investment, bond investment is essentially a fixed interest and principal income, usually lasting for many years. Therefore, having an independent assessment of the debt repayment capacity of the issuer and the issuing instrument itself, such as bonds, will give investors more information to evaluate investment opportunities, The corresponding levels of risk are standardized in a general, highly reliable methodology, as well as supporting market development in a healthy and sustainable manner. The ratings also help the enterprise issuing determine the capital cost of reasonable than the given credit ratings of their own and have access to spacious investors at home and abroad for the decisions raise capital their.
- Because of these reasons, FiinGroup Joint Stock Company has just announced the official start of providing FiinRating Credit Rating Service since 5/6/2020.. Previously, the company was granted a certificate of eligibility for providing credit rating services by the Ministry of Finance on March 20, 2020.