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Robi and YABX Collaborate to Facilitate Financing for Smartphones in Bangladesh

PTI     March 1, 2019

(Eds: Disclaimer: The following press release comes to you under an arrangement with PR Newswire. PTI takes no editorial responsibility for the same.) BARCELONA, Spain, March 1, 2019/PRNewswire/ -- Robi, the leading digital services provider in Bangladesh, and YABX, a fintech company incubated by Comviva, have partnered to facilitate financing for smartphones for Robi's customers in Bangladesh. (Photo: https://mma.prnewswire.com/media/829150/Robi_YABX_Bangladesh.jpg) In this regard, Robi's Managing Director and CEO, Mahtab Uddin Ahmed and YABX's Founder and Chief Executive Officer, Rajat Dayal signed a Memorandum of Understanding (MoU) at the Mobile World Congress 2019, in Barcelona, on behalf of their respective organizations. Within one year of launching 4.5G service, Robi has created the largest 4.5G network in Bangladesh. YABX, on the other hand, provides the technology to underwrite smartphone financing for customers in the 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 the 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. Commenting on the partnership, Mahtab Uddin Ahmed, Managing Director and Chief Executive Officer, 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." Speaking on the occasion, Rajat Dayal, Founder and Chief Executive Officer, 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 objectives 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." PWR PWR


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