Great rewards need not always come with greater risk! Philippines is at the cusp of a Digital Revolution with mobile internet penetration at 73.6% consisting of around 86.98 million active internet users at the start of 2024. The next phase of digital push however requires the ecosystem to think differently, device affordability is a key challenge that stands between sluggish growth and fast internet adoption by the balance population. An innovative approach that makes device financing for banks secure and minimizes associated risks is going to be the key.
Solution for Device Financing Risk Management
Datacultr with its vast experience of building digital risk management and debt collection solutions for emerging markets, has introduced its unique device locking solution in the Philippines market, that secures the credit offered by financial institutions to the unbanked and drives key metrics around payments and collections, directly contributing to a significant rise in Mobile Device Financing in the country.
While expanding finance to more audiences it is imperative to devise a comprehensive device financing risk management strategy. The institutions often struggle with core issues like lack of banking history and absence of credit score that leads to holding back device financing in most cases. With a unique solution, Datacultr is leading the way to minimize risk for financial institutions.
Increased Collection Efficiency in Mobile Device Financing
Datacultr’s comprehensive digital platform provides engagement tools at each step of the collection journey leading to 25% higher on-time payments. Datacultr’s Odyssey platform through its unique device locking feature, can turn each financed device into a virtual collateral. This mitigates risk and helps overcome challenges like risk of default. Clients have experienced a decrease in non-performing loans by upto 67% with this solution. Odyssey enables you to reach a broader audience across the unbanked and underbanked populations that can accomplish the Digital Revolution in the Philippines.
Call us now to learn more about how you can partner with us to pioneer the Digital Revolution in Philippines while minimizing risk and maximizing reward.
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