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Moving towards a greater level of banking penetration and credit card usage, the financial sector has the important mission of increasingly understanding the users who demand banking products and services.
When a bank deals with users who have never had accounts or financial products, they encounter an informational gap that complicates evaluation in the onboarding process. This is where Bemobi creates the bridge between the telecommunications sector and finance, thanks to its work with mobile operators to create profiles based on mobile device usage, considering habits and behaviors.
Bemobi's Mobile Scoring solution involves the analysis of multiple data points related to consumer mobile phone service usage, with the purpose of improving accuracy in assessing creditworthiness. Some of these include:
Then, this information is processed by algorithms developed by Bemobi, tailored to the specific needs of each financial institution and previously authorized by the consumer. This way, data exchange takes place in an anonymized manner and in compliance with local privacy regulations, safeguarding users' personal information at all times.
Bemobi's solution performs over 2 million verifications per month in Mexico.
We add a series of new data points about an underbanked base on which credit bureaus have no information. We enrich traditional sources with additional data that our models provide.
André Andrade, vice president of Bemobi for Latin America
At the moment a user wants to open a bank account or acquire a product like a credit card, the financial institution requests their mobile number and consent to verify their data.
Subsequently, Bemobi's solution analyzes the mobile line's history and generates a score, which is delivered to the banking entity in real-time. At that moment, the financial institution uses the score to determine whether to accept this new customer and under what conditions, and it may even complement the analysis with its own information or other data sources.
In Mexico, Mobile Scoring technology is currently used for issuing credit cards, but it is also being applied in other areas such as personal loans, vehicle purchases, and home acquisitions.
The service, which began development in 2019, has grown by 250% annually in revenue and verification volume.
The testimony that our data works is the growth we are experiencing in revenue, transaction volume, and customers. We are onboarding a new customer every month.
André Andrade, vice president of Bemobi for Latin America
Source note: The Mobile Time Latinoamérica
If you need more information about our Mobile Scoring solution, you can fill out the following form, and we will contact you shortly.