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Warm Customer Engagement for Digital Financial Services

Author: Christina Huntzinger

Juntos’ Design Strategies Featured by Karandaaz Pakistan

February 26, 2016

Posted by Christina Huntzinger

MacGregor Lennarz, Commercial Director at Juntos, recently wrote a post for Karandaaz Pakistan in which he details Juntos’ individualized design process:

“Every Juntos message is personalized to the specific receiver in terms of both subject and language.  Each message is based on the customer’s financial behavior (deposits, transfers, etc.) and information he or she has communicated previously in the conversation with Juntos. For example, someone who sends PKR 2000 weekly and has asked about security of transactions will receive a different message than someone who has deposited PKR 500 and alludes to the importance of education for his or her children. All messages from Juntos also reflect the language the customer uses. Thus, someone who sends SMSs in formal Urdu will receive communication back in formal Urdu. Someone who sends SMSs in Pashto relying on abbreviations and/or ‘text speak’ will receive communication back in a similar style.”

The personalization and localization employed by Juntos’ design team work to facilitate the relationship and lower the barriers between financial service providers and their customers, ultimately driving mobile wallet adoption and continued usage.


Read the full article here: Unlocking the Potential of Two-Way Messaging

Juntos Highlighted as Innovative FinTech Solution

January 15, 2016

Posted by Christina Huntzinger

Financial Inclusion Beyond the Pyramid recently highlighted Juntos’ successes in its deployment with Tigo Pesa in Tanzania. In an article titled “Innovative FinTech Solutions Increase Customer Satisfaction,” the author writes:

“With over 100 unique messaging design tests and new insights delivered weekly, Juntos created a set of ‘core’ conversations proven to engage, built trust with, and drive behavioral change with Tigo customers.

The innovation behind Juntos does more than just tap into the inherent behavioral patterns of the newly banked; it also zeroes in on the specific aspirations of the people. They know they don’t have all the answers about what will make an incredible product experience for users—they believe they should seek that information from their users.”

Read the full text of the article here.

Results of Partnership Between Juntos and Tigo Tanzania

December 9, 2015

Posted by Christina Huntzinger

Juntos and Tigo Tanzania, a telco that maintains one of the largest mobile money deployments in the world, recently coauthored a white paper highlighting the successes of Juntos and Tigo’s partnership.  The combined goal of Tigo Tanzania and Juntos was to use engaging two-way SMS services to increase customer comfort with and use of the Tigo Pesa merchant payment system, traditionally a difficult mobile money product to promote.
 
Throughout the five-week treatment period and over 100 unique messaging tests, Juntos achieved a 26% increase in the number of consumers who made a purchase within the merchant system compared to the control group.  During the same period, the average number of payments made to merchants among users receiving Juntos messaging increased by 30%.
 
You can read more about the results of Juntos’ partnership with Tigo TZ here.

 

Juntos Mentioned in Forbes

November 9, 2015

Posted by Christina Huntzinger

In an article released this weekend entitled “Why The Financial Industry is Getting Nicer,” Arjuna Costa, an Omidyar partner who has a board role at Juntos, speaks to Dan Simon at Forbes about the intersection of finance and philanthropy.

When asked how to improve financial literacy, Costa calls attention to Juntos’ model.  He notes, “There is extensive body of research proving that traditional, one-size-fits-all, classroom-based financial literacy is not effective in changing consumer behavior. Changing behavior and building real financial capability requires first and foremost a deep understanding of consumers’ preferences and habits. Once equipped with this information, we can then layer on a combination of simple ‘rules of thumb’ that nudges behavior change in a more positive direction. For real effectiveness, these nudges should preferably come at the point of usage of a financial product or service, turning these into ‘teachable moments.’ This type of capability building can be really powerful when applied to consumer retention or engagement. A good example is a company called Juntos.”

You can find the full text of the conversation here.

New Juntos Case Study Released

October 22, 2015

Posted by Christina Huntzinger

To what extent can a fully automated system build trust and confidence? How does two-way interaction affect customer behavior?

CGAP (The Consultative Group to Assist the Poor) released a case study today addressing these questions in relation to Juntos’ product. Using results from Juntos’ work in Colombia, along with examples from partnerships in Mexico and Tanzania, CGAP describes the outcomes of Juntos’ iterative design processes that ultimately work to connect users to their financial institution.

Juntos has the capacity to launch quickly in various markets, due to proprietary technology designed in-house that works across countries and financial institutions. After conducting interviews and preliminary research, Juntos creates messages tailored to local markets with the goal of seeing change in financial behavior that reflects the needs of the partner financial institution. Though these messages are relayed through an automated system, analysts update and tweak messages in real time based on the replies they receive from users.

In contrast to one-way SMS services, Juntos’ two-way messaging service stands out in local markets. The conversational approach lowers the barrier for customers to engage with their bank, and results in higher account balances and increased transaction numbers.

A more detailed analysis of Juntos’ product can be found in the blog article and case study on CGAP’s website.

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