New Zealand
New Zealand New Zealand
Consumers make most of their payments by internet banking
  • 74%
    BFSI
  • 70.5%
    TELCO
  • 54.5%
    RETAIL
  • 46.5%
    BFSI
  • 39.6%
    TELCO
  • 40.7%
    RETAIL
  • A higher percentage make payments via internet banking to banks and insurance companies, telcos, and retailers, respectively, compared to the regional average
  • Impact: Anti-fraud capabilities critical to the increased digital transaction frequency and customers’ trust in banks
Australia
Australia Australia
Consumers are most satisfied with the post-fraud service of banks and insurances companies
  • More than 70% satisfaction rate compared to 59.7% on average
  • Impact: Increased trust in BFSIs
Indonesia
Indonesia Indonesia
Consumers that encountered most fraud incidents in the past 12 months
49%
34.7%

AP Average

  • 49.8% have experienced fraud at least once compared to 34.7% on average
  • Impact: Overall anti-fraud capabilities need improvement
Singapore
Singapore Singapore
Consumers have the highest trust towards government
AP Average
  • 75.5% choose government agencies, compared with 51.7% on average
  • Impact: Trust of personal data protection is centered around government agencies
Vietnam
Vietnam Vietnam
Consumers encountered most fraud incidents in retail and telco during the past 12 months
  • 55%
    TELCO
  • 54.5%
    RETAIL
  • 32.8%
    TELCO
  • 35.2%
    RETAIL
  • 55% and 54.5% have experienced fraud at least once in retail and telco, respectively, compared to 32.8% and 35.2% on average
  • Impact: Overall anti-fraud capabilities need improvement
Thailand
Thailand Thailand
Most Thai consumers believe speed and resolution are severely lacking (response/ detection speed toward fraud incidents)
AP Average
  • 60.5% think it is most important, compared to 47.7% on average
  • Impact: Response time as one of key factors to fraud management to retain customers and gain their trust
India
India India as standalone
Consumers have the largest number of shopping app accounts in the region
India
  • Average of three accounts per person
  • Impact: Highest exposure to online fraud
Hong Kong
Hong Kong Hong Kong
The least percentage of consumers with high satisfaction level toward banks and insurance companies’ fraud management
AP Average
  • Only 9.7% are most satisfied compared to 21.1% on average
  • Impact: effective response towards fraud incidents to be improved
China
China China
Consumers are the most tolerant toward submitting and sharing of personal data
AP Average
  • 46.6% compared to the AP average of 27.5% are accepting of sharing personal data of existing accounts with other business entities
  • Impact: higher exposure of data privacy and risk of fraud
alert
Japan Japan as standalone
Consumers most cautious on digital accounts and transactions
50.7% Actively maintain digital accounts’ validity
27% AP Average
45.5% Do not do online bank transfers
13.5% AP Average
  • More than 70% did not encounter fraud incidents in past 12 months, compared to 50% on average
  • Impact: Relatively low risk of fraud

Telenor Myanmar and Experian partner to accelerate financial inclusion for unbanked subscribers

Telenor Myanmar and Experian partner to accelerate financial inclusion for unbanked subscribers
  • Partnership provides Telenor subscribers access to digital financial services
  • This is an important step in enabling financial inclusion in a country where only 26% of its 53 million population have access to banking facilities.

MYANMAR, 07 December 2018Telenor Myanmar today announced the partnership with Experian, the world leader in information services, to provide affordable, accessible and relevant financial products to Myanmar’s unbanked individuals, households and small businesses.

 

Myanmar has experienced rapid growth in mobile phones and internet penetration, with adoption rates having soared in recent years to 90%. In its Digital Myanmar report launched in last February, Telenor Myanmar suggested the government to adopt digital solutions to its most pressing challenges on its journey towards the inclusive and sustainable socio-economic development across all states and regions.

 

Through Experian’s ecosystem of partners including financial institutions and lenders, Telenor Myanmar will help the unbanked to have access to loans that are otherwise only available to individuals with traditional banking history.

 

Using the subscription profile, Telenor Myanmar subscribers will be able to avail of financial products and services that suit their needs. Be it for household expenses or for livelihood, Experian will help Telenor Myanmar facilitate premium pre-qualification of individuals for securing micro-financing (unsecured loans of equivalent to US $1,000 and below) and credit cards (equivalent to US $1,000 and below) at no cost.

 

“Myanmar as a “digital native” country with widespread use of smartphones and high penetration of mobile broadband, presents a unique potential environment for digital services and to leapfrog its peers, given the right conditions. Telenor exists to help our customers get the full benefit of being connected and provide the power of digital communication, enabling everyone to improve their lives, build societies and secure a better future for all. We are very proud and enthusiastic about this partnership with Experian which will become the very first of this kind and will unable financial institutions to reach out to the millions of unbanked subscribers. Using Experian’s lead generation solution to pre-qualify unbanked subscribers and providing an avenue for them to access credit from financial institutions is one strong contribution to our efforts to empower our subscribers,” said Amaresh Kumar, Chief Marketing Officer of Telenor Myanmar.  

 

This collaboration represents an important step for Experian to enable financial inclusion in a country where only 26% of its 53 million population have access to banking facilities and financial products. This creates challenges for individuals who want to set up and operate small businesses, obtain a credit card, or fund their children’s education. For financial institutions, alternative data such as telco data can lead to quality and tailored pre-qualified leads, facilitating quicker assessment of an applicant and overall onboarding of customers.

 

Dev Dhiman, Managing Director, Southeast Asia & Emerging Markets, Experian said, “Experian aims to improve financial inclusion through the use of alternative data. Our partnership with Telenor Myanmar will broaden access to essential financial products for millions of people in Myanmar. We hope that our partnership with Telenor serves as a catalyst in empowering the unbanked communities, enabling more consumers to enjoy the fruits of Myanmar’s rapid socio-economic progress. This partnership reinforces and strengthens Experian’s commitment to Myanmar and to advancing financial inclusion through Southeast Asia and around the world.”

Read full article

Experian

By Experian 12/07/2018

Related Articles

Experian Leads US$10 million Series B Follow-on Investment in Malaysia’s Jirnexu to Further Advance FinTech Ecosystem in APAC
Experian Leads US$10 million Series B Follow-on Investment in Malaysia’s Jirnexu to Further Advance FinTech Ecosystem in APAC

Experian, the world leader in information services, is leading a US$10 million Series B follow-on investment in Jirnexu. Headquartered in Kuala Lumpur, Jirnexu is one of the successful FinTech pioneers…

Learn more
Experian leads Over-Subscribed US$28m Series C Investment in C88 to Drive Financial Inclusion Across Southeast Asia
Experian leads Over-Subscribed US$28m Series C Investment in C88 to Drive Financial Inclusion Across Southeast Asia

Experian, the world leader in information services, has led an over-subscribed US$28 million Series C investment in C88 Financial Technologies Group (C88).

Learn more
Experian works with mobile network operators globally to help billions create credit profiles and improve financial well-being
Experian works with mobile network operators globally to help billions create credit profiles and improve financial well-being

Nearly 70 percent of the credit offers are being generated across Asia

Learn more
  • Download Now

By providing your personal information you agree that we may collect and process it in accordance with our Privacy Statement.