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Data Science Could Boost Global Prepaid Market by USD $70 Billion

By   /  May 4, 2017  /  No Comments

by Angela Guess

A new press release reports, “A new report by Juvo, the pioneer in mobile Identity Scoring, reveals that data-science driven mobile financial services will significantly impact the global pre-paid market, increasing operator revenues by as much as USD $70 billion. The report, Data Science: Driving Mobile Operator Digital Transformation, demonstrates how establishing financial identities for prepaid subscribers improves operators’ business performance and their broader pursuit of digital transformation, delivering up to 10 percent lift in Average Revenue Per User (ARPU), a 50 percent reduction in churn and a two-fold increase in lifetime value.”

The release goes on, “Juvo’s report highlights how data science-based mobile financial services dramatically increase engagement across the entire prepaid market, regardless of demographics or geography. When machine learning and predictive credit algorithms are applied to usage data continuously and in real-time, individual subscribers can be assigned personalized financial identities. As intelligence grows, credit worthiness is established and access to a wider array of mobile financial services is unlocked. The report demonstrates that establishing credit is independent of wealth or income, increasing the value of financial identities to users regardless of circumstance.”

Steve Polsky, CEO and founder of Juvo, commented, “We’re only scratching the surface of what is possible with data science-led digital transformation… Identity-based services deliver unprecedented performance gains – just the impact of credit extensions alone to the global prepaid market could improve revenues, dramatically reduce churn and capture billions of dollars in lost revenue, and more broadly over 1.5 billion people globally lack any form of legally recognised identity. When data science is used to turn anonymous subscribers into identified subscribers, operators can unlock the full potential of their brands and subscriber relationships.”

Read more at PR Newswire.

Photo credit: Juvo

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