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How based on the credit profile of its customers, Younited helped Telefonica offer a credit solution more adapted to their needs

Bank
Success Stories
Telefonica Madrid

Telegonica Movistar

About Movistar

Movistar Money was launched in 2019 as a consumer loan service as part of Telefónica de España’s business diversification strategy. Currently, any interested party, whether a Movistar customer or not, can apply 100% online and obtain a loan between €1,000 and €10,000 in less than 48 hours, with an interest rate adapted to the customer’s credit profile. 

« Through a 100% digital process, users, both Movistar customers and non-customers, can apply thanks to Younited for a loan to finance, for example, the purchase of a car or the renovation of their home, and get an instant response »
Jose Antonio Urosa
Commercial Director Telefonica Consumer Finance

The challenge

Telefonica felt that it could maximise the level of approval from its customer base, so far offered only by another partner; it also wanted to explore a solution that would help it offer a wider range of credit to its customers. 

The solution

Younited has been able to help Telefonica by acting with a technological connection in which we study, thanks to Open Banking, the credit profile of its customers, being able to offer them a credit solution more adapted to their needs. We have also been able to extend the credit offer to larger amounts than those offered so far in their process. 

Benefits for Telefonica

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Telefonica has been able to add a process based on Open Banking to complement the credit offering
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Approval has improved, achieving a higher yield on its demand
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By incorporating a wider range of amounts, Telefonica has increased its demand