TQM Alpha Public Company Limited Expands Financial Services to Meet Customer Needs
Dr. Anchalin Pannipa, Chairman of the Board of Directors, announced that TQM Alpha Public Company Limited has restructured its business into 3 groups: insurance business, financial business, and platform technology. Within the financial business group, the Easy Lending Company Limited has been providing loans to pay insurance premiums for TQM customers, resulting in continuous growth and positive feedback. In order to further meet the needs of automobile insurance customers, the company aims for “Money Bear” to become one of the top five leaders in the financial and credit business.
Dr. Chatchai Payuhanaweechai, Chairman of Consultants at Easy Lending Company Limited, highlighted the current level of household GDP borrowing at 87.1% and the outstanding personal loans of approximately 810,240 million baht. The company aims to provide financial solutions to alleviate debt problems and reduce informal debt, as well as to assist customers in improving their financial liquidity and expanding their businesses.
As part of its expansion, the company introduces “Silver Bear,” a newcomer to the car registration loan industry, which will offer specific loan formats tailored to TQM customer groups. The goal for “Silver Bear” is to become one of the top 5 leaders in the business, with a projected loan amount of no less than 10,000 million baht within three years.
Furthermore, the company anticipates releasing around 5,200 million baht in loans in 2024, with 50% earmarked for car registration loans and the other 50% for insurance premium loans. Risk management is a priority, and interest rates for vehicle registration loans will be determined based on various factors, including the age, brand, and model of the car.
Growing Opportunities in the Financial and Insurance Markets
Napassanan Phannipa, CEO of TQM Alpha Public Company Limited, emphasized the vast opportunities for growth in the financial and insurance markets, with the insurance business alone valued at over 800 billion baht. As such, “Money Bear” and “Silver Bear” aim to serve TQMalpha’s group of over 4 million customers and the general public, with services available at TQM branches nationwide and through the TQM Telesales channel.
Additionally, the company will offer credit services through a Delivery Service for customers who may find it inconvenient to visit a branch. With over 5,000 employees ready to serve and more than 3,000 service points covering all regions of the country, TQM Alpha Public Company Limited is committed to providing accessible and convenient financial and credit services to its customers.
Dr. Anchalin Pannipa, Chairman of the Board of Directors, TQM Alpha Public Company Limited. Said that since TQMalpha restructured its business into 3 groups: insurance business, financial business and platform technology In the financial business group, Easy Lending Company Limited has given loans to pay insurance premiums. for TQM customers, which has received feedback from many customers and has been growing continuously. Therefore, in order to meet the needs of automobile insurance customers
Aim for “Money Bear” to become one of the top five leaders in the financial and credit business.
Therefore, we have expanded our car registration loan service. Another service and expect to get good feedback from customers as well And this time the financial service brand has been created as “Money Bear” with a cute and friendly image that is accessible to all groups of customers.
while Dr Chatchai Payuhanaweechai, Chairman of Consultants, Easy Lending Company Limited. Said that the money is currently GDP borrowing per household at a level of 87.1% (July 2023), accounting for outstanding personal loans including Bank and Non-Bank worth about 810,240 million baht, excluding informal debt. The money will come to help provide services Financial solutions to solve debt problems that customers have By providing loans to increase financial liquidity. Help reduce the problem of informal debt. Including being able to use it as capital to expand your business.
Anyway, “Silver Bear” It is considered a newcomer to the car registration loan industry. In addition to providing services to the public We also design loan formats to be specific according to TOM customer groups because we understand TQM customer needs very well.
Regarding the plan within 3 years, the goal of “Ngern Bear” is to be one of the top 5 leaders in this business, with a loan amount of no less than 10,000 million baht. From 2024, it is expected that the total loan will be 5,200 million baht, accounting for approximately 10,000 customers, and in 2025, the total loan is expected to be 7,000 million baht.
Meanwhile, in 2024, it is expected that around 5,200 million baht will be released in loans, with 50% coming from car registration loans and another 50% coming from insurance premium loans. However, risk management is relatively low cost. Therefore, the interest on the company’s vehicle registration It will depend on the age of the car, car brand, car model If it is a new car Interest will be around 10%.
In the last two years, the company had around 200,000 customers and an outstanding loan portfolio of 2,700 million baht. In 2023, new loans have already been announced. Therefore, it is expected that this year will exceed the target set.
The financial and insurance markets still have a lot of room to grow.
Meanwhile Napassanan Phannipa, CEO, TQM Alpha Public Company Limited. He said the financial market is still a relatively large market. In the insurance business, the value is more than 800 billion baht. It is seen that there is still a lot of opportunity for growth.
Therefore, “Money Bear” as a financial and credit service comes to help the TQMalpha group of over 4 million customers while also providing services to the general public as well. Silver Bear is ready to serve you. Immediately in more than 95 TQM branches nationwide. TQM branches will provide insurance and credit services. At the same time, you can receive services through the TQM Telesales channel with over 5,000 employees ready to serve and can use the service at that point. sub-regions covering all regions of the country, more than 3,000 points
In addition, credit services will be provided in the form of a Delivery Service for customers who are inconvenient to travel to use the service. The company is ready to provide a service to customers’ homes as well.
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