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Juvo reveals financial ID platform for underbanked mobile users
- Thursday | 26th September, 2019
Not only are underbanked consumers unable to demonstrate a credit history, they are unable to account for their financial behaviour at all. In turn, financial service providers cannot accurately calculate the risks attached to these new customers because of a lack of information about their past financial behaviour. Juvo says the financial identities available from its service will allow these people to qualify for financial services from financial institutions and merchants, often for the first time. Over time credit is extended and potentially a wider range of financial services are provided, creating a richer and more rounded financial profile. Financial institutions can expand the addressable market for financial services while minimizing risk.
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