News
Liberty Global-owned operator offers credit extensions across 15 Caribbean markets.
Juvo on Thursday announced its latest operator customer: Cable & Wireless Communications, which is using its so-called identity-scoring technology as the basis for its Flow Lend app.
Flow Lend allows prepaid users to request airtime credit extensions for immediate usage, enabling them to keep using voice, messaging and data services a little longer after they have consumed their initial allowance.
Juvo claims that the average Flow Lend user consumes 10% more of C&W’s products and services, and is 50% more loyal.
"Initially, we had concerns about some of the risks involved, including potential bad debt, but identity scoring has helped to mitigate these risks and our 12-month goal of US$1 million (€931,622) in credit extensions was reached in less than four months, surpassing expectations," said James McElvanna, vice president of products, C&W.
Juvo’s technology analyses prepaid users’ behaviour, generating what is effectively a credit score, which can be used as a basis for lending the customer small amounts of voice, data and SMS credit.
Over the long term, Juvo can build an increasingly detailed picture of the end user, until, with a high enough identity score, the customer could potentially become eligible for a greater range of mobile financial services, such as banking, loans and insurance.
"By putting a ‘face’ on what is typically an anonymous SIM, an identity-based relationship develops between C&W and each
prepaid user, creating a better mobile experience and access to essential financial services," said Steve Polsky, CEO and founder of Juvo.
Juvo officially launched in early September. In addition to Liberty Global-owned C&W, the company has also signed up Millicom, which is using Juvo to power its airtime top-up app, Tigo Shop, in various Latin American markets.
