Reimagining Credit Lending: Evolving Systems Launches Gamified Approach
Evolving Systems, a leading provider of telecommunications transformation solutions, has announced Gamified Lending, powered by Evolution Digital Engagement platform.
Gamified Lending aims to transform prepaid credit lending through engaging, reward-based strategies. It revolutionizes credit advances through the immersive approach of ‘Gamification.’
Historically, prepaid credit lending has been essential for customers in emergencies. However, loan eligibility and recovery restrictions often limit this service’s full potential. “Evolving Systems aims to unlock the full potential of prepaid credit lending in a bold move from traditional emergency aid to more convenient tools. We anticipate a boost in customer participation and operator revenue by shifting the focus from emergency use to daily convenience,” says Eric Hatton, COO of Evolving Systems.
“Evolution’s Gamified Lending employs the power of gamification to transform the credit lending landscape. Through Gamified Lending, customers can unlock higher loan values and bonus rewards based on their credit scoring, thus placing control back in the customer’s hands,” Hatton added.
The Gamified Lending solution offers an innovative and rewarding approach. It goes beyond monetary Lending, allowing customers to borrow value in various forms, including data, calls, or SMS.
Evolution’s Gamified Lending uses a gamified layer of points, stars, meters, and tiers to revolutionize loan eligibility. Customers can enhance their eligibility based on prompt loan repayments – the faster the repayment, the more stars earned, leading to higher loans and exclusive rewards.
With the integration of gamification, users have experienced a 1.7x increase in enjoyment and over a 30% rise in engagement rates. These improvements have contributed to a substantial reduction in the bad-debt rate and a 10% increase in ARPU, demonstrating gamification’s impact on customer engagement.
“Our goal is to empower users and operators alike by turning the lending process into a rewarding, engaging, and convenient experience,” says Hatton. “We invite everyone to experience the power of gamified lending through the Evolution platform of Evolving Systems.”
Key features of the Gamified Lending system include:
- Optimized Customer Information: The system uses customer insights to build profiles for proactive Lending, including targeted outbound communication to offer loans to eligible customers.
- Gamification: Engaging game-based elements are incorporated to increase customer engagement and drive repeat usage.
- Customer Rewards Portfolio: A range of rewards is curated for different customers, interactions, and times.
- Flexible Wallets: The platform allows flexible Lending and repayments with monetary values or promos.
- Tier-Based Lending: Customers with a good history can ascend to higher tiers and borrow more.
- Configurable Repayment Fees: Higher tiers enjoy lower interest rates.
- Targeted Campaigns: Outbound campaigns can be set up to target customers that qualify for loans to drive usage uptake.
- Integrated Access: Loans can be accessed through the self-care app, SMSC, and USSD.
- Reward Repayments: Timely repayments can earn customers points, help them climb tiers, and win prizes.
For more information about Gamified Lending or to schedule a demonstration, please visit Gamified Lending Page.
About Evolving Systems
Evolving Systems, is a provider of software and services to 100 customers in over 60 countries worldwide. The Company’s product portfolio includes market-leading activation products that address subscriber service activation, SIM card activation, mobile broadband activation as well as the activation of connected devices. Founded in 1985 with offices in the United States, United Kingdom, Spain and India. For more information please visit: evolving.com
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