Press Release
Spanish fintech company, fonYou Telecom, today celebrated its 15-year anniversary by vowing to help convert one billion consumers to digital payment methods within the next five years. To do this, the company is working with financial institutions and mobile operators to bring advanced FinTech capabilities to its cloud-based platform.
The company launched in 2006 with a vision to help mobile operators undergo a digital transformation in the way they sold services to consumers. The founders recognized that the key to that mobile operator transformation would lie in being able to extract greater customer knowledge and understanding from each network’s data traffic.
“When we first started the business, mobile operators and their customers were just beginning to recognise and embrace the data revolution,” says Founder and CEO, Fernando Nunez Mendoza. “We spotted the potential that the network data offered to learn more about the customers, their interests and ambitions, in order to support them with better, hyper-personalized service offers.”
fonYou has helped operators to migrate customers to a digital platform, and made it easy for cash customers to switch to digital payments. Integrating their platform with mobile operators all around the world, using their knowledge and expertise in ML, AI and data analytics, the company has been able to help improve their engagement and experience with customers across the base.
Today, fonYou’s platform is analysing more than 100bn data events across operator networks every month. The company’s best-in-class AI and analytics engine is searching for real-time opportunities to trigger customer interactions and offer personalized products and services that can not only boost revenues but also reduce churn.
The next stage of the company’s development has included working with financial institutions and its operator partners to add advanced fintech capabilities to the platform. It has set itself the ambitious goal of helping to bring the next one billion people into the digital world.
“The global pandemic has highlighted the global digital divide,” says Mendoza. “Our goal, over the next five years, is to use our fintech platform to help one billion people without access to traditional banking methods join the digital economy and in doing so to help narrow the digital divide.”
