Identity scoring firm Juvo has partnered with Malaysia’s fastest growing MVNO, Tune Talk.
The deployment, Juvo’s first in Malaysia, will drive financial inclusion across a population that has rapidly adopted smartphones in a highly saturated market via Juvo’s Pay Later servive, which provides prepaid users with access to progressive levels of financial services, starting with airtime loans.
By using Juvo’s proprietary data science and game mechanics technology, subscribers graduate to higher levels of credit based on top-up and repayment history, account information, and everyday interaction. Pay Later enables prepaid subscribers to unlock access to advanced financial services. For Tune Talk, Juvo’s solution will drive higher levels of engagement, increase retention and develop an identity-based relationship between Tune Talk and its customers.
“Greater access to connectivity has increased the appetite for digital services among our prepaid subscribers, and we have worked hard to deliver a differentiated offering that meets their unique needs,” said Stewart Kumar, Head of Product at Tune Talk. “Juvo is in a unique position to help us transform our customer engagement, increase ARPU and support financial inclusion by creating our first lending and shopping applications.”
Smartphone users in Malaysia are estimated to reach 17.8 million this year, and grow to 21.3 million by 2021. Tune Talk is using Juvo’s technology to create a robust application that provides a single destination for shopping, notifications, merchandising, credit extensions and account management. The Pay Later application is fuelled by Juvo’s proprietary Identity Scoring technology to drive customer engagement, improving customer satisfaction through always-on access and paving the way for greater financial opportunity.
“Making credit extensions and personalised financial services available to everyone is one of the best ways for operators to increase engagement with their prepaid customers, and drive financial inclusion,” said Steve Polsky, Founder and CEO of Juvo. “Juvo's Identity Scoring technology not only helps limit zero balance days – the times when subscribers can’t afford to top up and are therefore without service – but it also significantly reduces churn while increasing consumption. Tune Talk is bringing something new and unique to the highly competitive Malaysian market. It’s an innovation that will put its prepaid subscribers on a pathway to accessing more advanced financial services.”
Joseph Lim, CMO, Tune Talk, said: “With new, competitive SIM deals being developed daily, it is crucial that we give our customers a reason to remain loyal to our network. Our partnership with Juvo allows us to stand out from competitors, and gives our subscribers a one-stop destination to engage with Tune Talk for services, notifications and merchandising.”
Tune Talk’s Pay Later application is available to download on Google Play.