One of the key ingredients of our success is that we built a solid IT backbone. When combined with our sales and customer service expertise, these advanced solutions allow us to provide our customers with the service that they deserve.
For our field collection team and for our business partners, the motorcycle vendors, we developed applications that make life easier. For example, through an application, vendors can monitor upcoming payments and sales volumes.
Managing risks is key. Rent 2 Own uses several fintech solutions to mitigate risks in all phases of the contract lifecycle. When applying for a loan, we verify the client’s identity through OTP. We also utilize Viber and other social media checks to prevent fraud. Our underwriting department has acquired over 4 years of valuable experience. On the back of this, a score card has been created that allows our staff to underwrite more efficiently.
In the approval process we combine data from the application form with external data sources, such as payment channels, e-commerce websites and telco data. In the collection stage we utilize a newly developed app to optimally plan the routes of litigation officers. For the vast majority of our clients who don’t have payment issues we’re using digital wallets that connect to all the main Payment Service Providers in Myanmar.