Bangladeshi digital services provider Robi and Comviva-incubated fintech firm YABX have partnered to facilitate financing for smartphones for Robi’s customers in Bangladesh.
Within one year of launching 4.5G service, Robi has created the largest 4.5G network in Bangladesh. YABX meanwhile provides the technology to underwrite smartphone financing for customers in emerging markets.
In doing so, the company builds customer profiles from tens of thousands of data points, using data from the mobile network. This in turn enables customers to purchase their first smartphone. Therefore, it is believed that this partnership will make a significant difference in promoting digital lifestyle in the country.
In addition to this, YABX’s state-of-the-art device impairment technology enables financial institutions to launch EMI plans while Yabx manages the complete customer journey through digital channels which includes acquisition, disbursals, collections etc.
Mahtab Uddin Ahmed, Managing Director and Chief Executive Officer at Robi Axiata Limited, said: “Average smartphone price, as percentage of Gross National Income (GNI) per capita for Bangladesh, is one of the highest in the region. This is a key challenge to smartphone penetration, which currently is one of the lowest in the region. We are confident that through this partnership with YABX, the high entry-cost barrier will be eliminated, which will help in driving smartphone adoption and reduce inequality in Bangladesh as per SDG goal. Moreover, this will add another feather to the Big Data analytics and Fin-tech initiatives of Robi.”
Rajat Dayal, Founder and Chief Executive Officer at YABX, said: “Our collaboration with Robi is a part of the company’s long-term strategy to enable digital micro-loans services in Bangladesh. Our partnership would facilitate the vision of affordable and convenient handset financing in Bangladesh. The main economic and social objective of our partnership is to help the population of Bangladesh gain instant access to smartphones in an affordable and convenient manner, thus enhancing financial inclusion through digital inclusion.”