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

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.

Jose Antonio Urosa

Commercial Director Telefonica Consumer Finance

« 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 »

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.