Trustonic and YABX form new partnership to increase smartphone accessibility in underserved markets
Trustonic has today signed a Memorandum of Understanding with pioneering FinTech firm, YABX, to increase smartphone accessibility in underserved markets across Africa, Asia, and Latin America.
Trustonic embeds world-leading trusted cybersecurity technology into smart devices and connected vehicles to secure revenue and power innovation while ensuring reliability. Its innovative Telecoms Platform leverages device locking to help mobile operators, retailers and financiers grow revenues without incurring additional commercial risks.
With a clear mission to simplify financial access to over two billion unbanked people in emerging markets, YABX revolutionises credit accessibility through its own cloud-based lending platform. In leveraging digital footprints, AI, and diverse data partnerships, the forward-thinking FinTech firm successfully provides personalised credit scores and limits to underserved individuals and businesses – carefully building financial personalities of new-to-credit customers while digitising the entire lending journey.
Once officially formed, this new partnership will enable Trustonic and YABX to provide retailers, financiers and carriers with a combined turnkey service that will ensure they can address underserved markets.
Where the YABX cloud-based platform will leverage the power of AI to successfully vet, onboard and manage financing for both unbanked and low-credit customers, Trustonic will be able to minimise any risk of smartphone delinquency and bad debt through its device locking capability; which uses the science of ‘nudge’ to drive better payment habits and remind individuals to pay outstanding bills on time.
As a result, millions of consumers across emerging markets will be able to access 3G and 4G enabled devices, increasing smartphone penetration while successfully reducing the digital divide.
Craige Fischer, VP of Sales [EMEA] for Trustonic, explained: “Trustonic’s Telecoms Platform is an innovative technology solution that enables wider smartphone affordability while shielding our customers from the potential risk of late or missed payments through its remote device locking capability.
By forming this new partnership with YABX, we will be able to enable carriers, retailers and financiers to connect the next one billion and help reduce the digital divide.”
Mr. Puneet Chopra, Chief Growth Officer, Yabx, added: “We extend device loan products to underserved markets, utilizing vast alternate data sources for real-time credit scoring and limits, breaking smartphone cost barriers. With millions of disbursals at speed, securing loan journeys is paramount. Our Trustonic partnership strengthens the Smart Collection Tool, promoting timely repayment habits market-wide.”
