Home Tidlor Story Corporate Ngern Tidlor: Evolving from a Trusted Vehicle Title Loan Brand to the Trailblazer in Financial Innov

Ngern Tidlor: Evolving from a Trusted Vehicle Title Loan Brand to the Trailblazer in Financial Innovation for Customers in Need.

29 March 2024
Ngern Tidlor: Evolving from a Trusted Vehicle Title Loan Brand to the Trailblazer in Financial Innovation for Customers in Need.
In today’s arising challenging economic landscape, customers have an increasing need for access to capital. One of the services often considered first is "vehicle title loans," leading to a growing number of competitors emerging both in Bangkok and the provinces.

While there were only 2-3 key players in the market before, there are now numerous new brands offering vehicle title loans, including various banks, entering the market and engaging extensively with customers and consumers. Therefore, it's not surprising that the competition in brand communication in the vehicle title loan market is intensifying.

However, this competition has not altered the standing of "Ngern Tidlor." The company continues to move forward by creating more financial opportunities for customers, leveraging its strength in brand awareness, and incorporating digital technology to enhance services and provide a superior customer experience.

This has led to winning the hearts of consumers once again, as evidenced by being awarded the 2024 Thailand’s Most Admired Brand in the Banking and Financial Services category among vehicle title loan businesses. This marks the sixth consecutive year of winning this award.

Although we have over 1,600 branches nationwide, Ngern Tidlor continues to utilize technology to develop services and continuously enhance the brand experience for customers.

However, the key factor that keeps Ngern Tidlor at the top of consumers' minds stems from our business intentions, combined with its technological strengths to enhance services, fostering confidence and trust in the brand.

“The cornerstone of Ngern Tidlor's business operations is “brand trust”, especially vital for a lending brand reliant on consumer confidence. Our service-oriented mindset underscores our ability to genuinely instill trust in our customers.

Once we've earned their loyalty, it's crucial to nurture these relationships by consistently delivering exceptional service, thereby ensuring an ongoing positive brand experience.”

Bernard Tso, Head of Marketing and Business Development at Ngern Tid Lor Public Company Limited, also known as TIDLOR stated.

Before Ngern Tidlor became well-known, we started with discovering our purpose in helping society. Once we have a clear understanding of WHY our business existed, we can then create a brand that is clear and distinctive.

The next critical step is to consistently raise awareness among consumers. Nowadays, technology plays a significant role in strengthening the relationship between the brand and customers, helping to solve problems and create positive experiences for customers. It's through this process that trust is built.

Ngern Tidlor is a well-known brand in Thailand, widely recognized through both brand campaigns and marketing efforts via advertisements or video content that communicate sincerely and directly, leaving a lasting impression and bringing smiles to people's faces. However, it cannot be denied that what truly resonates with customers the most is elevating the brand experience by word-of-mouth recommendations.

This begins with employees who are ready to provide sincere service and advice to customers. Following that, there are various other continuous customer assistance services provided, such as the 24-hour Call Center or the Ngern Tidlor mobile application, which has over 1 million registered users as of December 31, 2023. This shows that Ngern Tidlor is a brand customers trust completely.

“In today's world, consumers increasingly have access to smartphones, and the use of mobile banking is becoming more widespread. This trend necessitates the financial services sector to accelerate technological development to serve customers better. Ngern Tidlor itself has emphasized conducting business using innovation and technology for over 10 years. This has led to the creation and development of innovative products and new features for customers to use today as a significant alternative to visiting branches for service,”

said Bernard.

Ngern Tid Lor Public Company Limited’s products and services are broadly divided into two types: lending and life and non-life insurance brokerage. In the past year, we have utilized technology to enhance our customer services, which has significantly influenced brand trust surveys as follows:

Ngern Tidlor introduced the E-Withdrawal Service, allowing customers to conveniently transfer remained credit from their Tidlor cards to their bank accounts or registered PromptPay accounts, any day, anywhere, between 06:00 AM and 10:45 PM without any fees. By simply registering and using the Ngern Tidlor mobile application, customers can now manage their financial transactions more conveniently, providing peace of mind and relieving worries. Customers have the option to transfer their remained credit to their accounts in emergencies whenever necessary.

Furthermore, we promote our services through a series of advertisements titled "Transferring Tidlor Card Loans via the App in Just 1 Minute." These ads feature stories of Ngern Tidlor customers who encountered difficulties withdrawing money from ATMs but were assisted by the Ngern Tidlor mobile application. This credit transfer service has garnered positive responses from customers, aligning with the trend of cashless societies. It has attracted more customers to register and use the Ngern Tidlor mobile application, potentially influencing them to choose Ngern Tidlor's services in the future.

Another interesting new product is the Land for Cash Loan, a mortgage program offered by Ngern Tidlor, which addresses the needs of customers who require loans against land titles or real estate to convert into credit. This product has also received positive feedback.

Additionally, towards the end of last year, the company introduced the Call Center 1501, operating under the brand name "Shield Insurance." This service is dedicated to insurance brokerage customers, offering them more convenient access to insurance services. This initiative facilitates consultation and immediate coordination whenever customers need assistance, regardless of the issue. The response to this has been overwhelmingly positive.

With all that has been said, Ngern Tidlor has reshaped the image of lending and insurance brokerage businesses by providing a complete Online to Offline to Online (O2O2O) customer experience. This approach aims to provide customers with a holistic brand experience, maximizing its potential.

“Since the introduction of Ngern Tidlor's mobile application, it has not only offered convenience and speed to customers but has also freed up more time for our employees to engage in consultations with customers visiting branches face-to-face. This enhances the overall customer experience and creates a feedback loop that contributes to the development and growth of the brand,”

Bernard added.

The success of Ngern Tidlor underscores its widespread recognition as both lending brand and an insurance brokerage brand. By harnessing its technological strengths to enhance access to insurance, it's clear that both of these businesses have bolstered the company's portfolio.

While the lending business acts as the primary driver, the insurance brokerage serves as a complementary force, propelling Ngern Tidlor forward with confidence.

Source: BrandAge

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