News
Emerging markets operator gives prepaid customers access to credit on credit.
Less than two weeks after its official launch, Juvo revealed this week that emerging markets operator Millicom is using its so-called identity-scoring technology to power its airtime top-up app, Tigo Shop.
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. The Tigo Shop app is used by prepaid customers in Guatemala, Colombia, Paraguay, El Salvador, Bolivia and Honduras.
"Juvo was uniquely positioned to help us transform our relationship with consumers at scale in a cost efficient way. The company’s solutions to establish financial identities have helped us lay the foundation for a successful digital subscriber experience with a positive business impact," said Miguel Angel Garay, vice president of mobile at Millicom, in a statement on Wednesday.
The longer Juvo is used for, the more detailed the picture of the end user becomes, until, with a high enough identity score, the customer could become eligible for a greater range of mobile financial services, such as banking, loans and insurance.
"We’re right at the very beginning of a true digital transformation journey," said Steve Polsky, CEO and founder of Juvo. "By demonstrating the scope and scale of our services through increasingly deep engagement, we’ve become a trusted partner. The next stage is to look at other areas where we can support Millicom in highly competitive markets, to open up even further access to advanced mobile services."
