CreditPilot and Tata Communications reveal Mobile Financial Services’ direct positive effect on retention and revenues
May 30, 2019
Even a limited-scale deployment of Mobile Financial Services (MFS) on a mobile operator’s network leads to at least 15% churn reduction and 30% revenue growth from segment of subscribers that are using MFS at least once a month. CreditPilot and it’s strategic integration partner TATA Communications revealed that data on the MFS workshop that two-companies co-hosted on MWNO World Congress in Amsterdam.
This 3-hour workshop where CreditPilot, Tata Communications, and a number of high-profile telecom executives from around the world, shared their mobile financial services deployment experiences, became a notable success, being one of the most visited events of the Congress.
Workshop participants looked into ways to shift from “voice & data reseller” to more complex business models. Participants discussed both direct and indirect revenue streams, focusing and understanding of subscribers needs, services with significant incremental value potential.
“This is nothing new to the market, GSMA is very public about direct positive effect of MFS on telcos’ bottom-line, and even if we take purely anecdotal evidence - client is much less likely to up and change a bank or a credit card provider, all of a sudden. And, yes, although MFS is all about fair fees and transparency - financial services, transactional business generate more revenue than what seem to be telco’s primary product now: data and voice.
We are always very hesitant about putting any figures out there, not only because these considered sensitive by our current clients, but also because, these figures do not explain much without context of particular implementation: what’s the market, who are the subscribers, which MFS are launched and what’s the use case, what’s a sales and marketing approach: these are all vital factors that affect revenues and churn.
The whole idea behind this workshop was to let executives and decision makers know, that financial services is a viable opportunity within their reach, to disambiguate regulatory side of financial services, that is not clear to most, and, as our Tata colleagues said - to provide MNOs and MVNOs with food for thought on how to migrate from voice and data sales to product lines that do make sense and will be making profit for years to come”, - commented Felix Polianski, CreditPilot vice-president, who co-chaired the workshop.
CreditPilot’s partnership with Tata Communications means a seamless availability of MFS, DFS, acquiring services to Tata’s current and future clients. Besides IT platform itself CreditPilot covers licensing, compliance, and day-to-day operations. CreditPilot also provides consulting services to help operators put together viable financial services development strategy.
If you didn’t have the opportunity to participate in the workshop, email [email protected] to get a copy of the presentation.
Get in touch!
Memberships and Associations
CreditPilot is proud to be associated with:
Member since 2018
Listed since 2018