Cable & Wireless Communications (C&W) has partnered with Juvo to boost access to mobile credit services and drive financial inclusion across 15 Caribbean markets.
The operator is introducing the Flow Lend app, driven by Juvo’s Identity Scoring technology, to allow prepaid users to request credit extensions for immediate usage, dramatically improving customer experience and satisfaction.
The app uses data science and game mechanics to build real-time subscriber personas allowing C&W to personalise lending criteria and provide immediate credit extensions. By re-imagining the prepaid experience, the app initially enables Flow prepaid customers to request credit advances for airtime and data, reducing zero balance days and progressively increasing access to services.
James McElvanna, VP Products, C&W, said: “From user-acceptance testing, to in-market customisation and advanced data science methodologies – the overall experience has been very positive. 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$1,000,000 in credit extensions was reached in less than four months.”
Explaining the key success of Flow Lend Steve Polsky, CEO and founder of Juvo, explained: “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.”
Identity Scoring is part of Juvo's proprietary Identity Stack, which combines consumer internet know-how, sophisticated data science, and game mechanics to more readily target and engage prepaid users in real-time, based on their own unique preferences. The Identity Stack includes intelligence and reporting tools that offer mobile operators actionable analytics and insights to drive user engagement and growth.
Flow Lend is available in Antigua and Barbuda, Barbados, Saint Lucia, Dominica, Anguilla, Cayman Islands, Grenada, Jamaica, Montserrat, Saint Kitts and Nevis, Saint Vincent and the Grenadines, Turks and Caicos Islands, and the British Virgin Islands. It will soon be launched in Panama and the Bahamas.