Tiaxa: Latin American financial inclusion models could boost Asian markets

Tiaxa´s General Manager for the Asia Pacific region, Vince Parr, was one of the speakers at the Magenta, Mobile Money & Financial Inclusion 2021 event held in April this year.

Vince discussed Tiaxa’s experience with the implementation of the Emergency Airtime Credit models for prepaid subscribers and credit rating for mobile operators in Asia Pacific and Latin America. He announced that Tiaxa’s services have been expanded to include validation processes in financial institutions thanks to the use of alternative mobile data.

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To add more detail Vince detailed Tiaxa´s solid results with mobile operators in Mexico, specifically Telcel, and the advances that the company has made in alternative mobile data, prediction and customization of user behavior algorithms. He also added, that operators play a fundamental role in providing relevant information for the identification of fraud and fostering a more inclusive and efficient environment for the financial system.

Finally, he stated that the COVID-19 pandemic has triggered an acceleration in digitalization of payments that has also driven innovation in financial inclusion efforts, and that the business landscape for financial institutions in Asia using credit rating based on alternative data, will be very strong over the next two years.

In the 12th version of Mobile Money & Financial Inclusion, the focus was on the financial inclusion of emerging markets such as Vietnam, Cambodia, Laos, the Philippines and Indonesia, which were identified as key to achieving better results in terms of access and banking education in the region.