About Telefónica
Telefonica is currently the largest Telecom company in Spain, with Movistar as its biggest brand, providing a wide range of services, including fixed and mobile telephony, broadband, and subscription television, primarily operating in Europe and Latin America.
About Movistar
Launched in 2019 as part of Telefónica España’s diversification strategy, Movistar Money offers consumer loans available to both Movistar customers and non-customers. Applicants can complete the process 100% online and access loans from €1,000 to €10,000 in under 48 hours, with rates tailored to each customer’s credit profile.
The challenge
Telefónica saw an opportunity to boost customer approval levels with Younited by leveraging its fully digital customer journey. Additionally, Telefónica aimed to implement a solution that would allow it to offer a wider range of credit options with longer maturities and higher amounts.
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
Our partnership in a few numbers
17
financed since launch
+3
new clients since launch
4.9
customer satisfaction rating
The solution
Younited provides its technology platform, while Telefónica retains the flexibility to customize the customer journey and client communications to suit its needs.
The partnership has two main objectives:
- Younited serves as a secondary option for clients declined by Movistar Money.
- Younited offers loans to customers whom Movistar Money cannot fund, including non-Telefónica Telco clients, loan requests between €10,000 and €15,000, and NIE clients (foreign nationals).
Through this partnership, Telefónica can now offer credit solutions to its entire customer base.
Benefits for Telefonica
Telefónica has integrated an Open Banking-based process to enhance its credit offering
Approval rates have increased, resulting in a higher yield on demand
By offering a broader range of credit amounts, Telefónica has boosted demand
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