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Real-Time Customer Interactions via SMS
1
April 2017
Deployment Highlights
2
Phase I of the Juntos-Mynt pilot was focused on engaging GCash customers and
increasing GCash transactions. Phase II addressed topics of credit with GCash
customers in an attempt to increase uptake and proper usage of the Fuse
product Instaloan.
Response rates on
test messaging
experiences were
up to 38%
Juntos-treated
customers had an
Instaloan
application rate 4x
the control group
Over a four month period, Juntos increased
average transactions of the treated
customer portfolio by 7% above the control
group
(20% for inactives)
Although we were
engaging
customers on
topics of credit
rather than GCash
transactions,
Juntos-treated
customers
transacted at a
rate up to 8%
above the control
group
Phase I Phase II
Project Overview
3
• Phase II service was provided to customers October 2016-February 2017
• 38,000 GCash customers received Juntos services as a part of Phase II
• 46 messaging tests were conducted
Mynt partnered with Juntos to impact customers’ financial behavior.
Phase I was focused on driving GCash transactions and the
purpose of Phase II was to engage customers on topics of credit
and the Instaloan product.
Project Plan
4
KPI 2:
Increase
Instaloan
uptake
KPI 3:
Increase
Instaloan first
week
repayment rate
KPI 1:
Increase customer
education on proper
credit usage
• Phase I service was provided to
customers April-October 2016
• 70,000 customers were extended
Juntos services
• 106 messaging tests were conducted
Phase I
KPI 1:
Increase GCash
transaction rates
Phase II
Project Timeline
5
Project Stage Month Key Actions
Technical Connection & Initial Design December 2015– March 2016 Technically integrated with SMSC and designed
initial tests
Phase I Engagement Design & Testing March-June 2016 Iterative tests performed as the Juntos system
determines word choice, onramps and
conversations to engage account holders
Phase I Behavior Change & Testing June-September 2016 Juntos scales up most successful strategies from
initial engagement design and testing
Phase II Engagement Design & Testing October-November 2016 Iterative tests performed as the Juntos system
determines word choice, onramps and
conversations to engage account holders
Phase II Behavior Change & Testing November 2016-February 2017 Juntos scales up most successful strategies from
initial engagement design and testing
Conclusion of First Deployment March 2017 Monitor & discuss opportunities for other areas of
Juntos impact throughout deployment (e.g.,
decrease calls to call center)
Juntos assesses impact using quantitative and
qualitative data
6
•Which strategies are
resulting in our highest
response rates?
•What is the overall
enrollment rate?
•Is Juntos driving financial
behavior change?
Quantitative
• How are users responding to
us?
• What questions do
customers have?
• What value do they seem to
find in Juntos?
Qualitative
Phase I Summary
7
Communication Metrics
8
Many tests received over a 20% response rate
9
• The highest response rate on
a message track was 38%
(n = 179)
• The most successful
experience gave
customers a language
option and increased
menu usage, continuing
to prompt users to
respond even if they did
not respond in the first
two weeks of messaging
• Our most successful
engagement strategies
received response rates of
20-38%
• Customers were particularly
engaged as we concluded
Phase 1 and asked for
feedback about their accounts
and Juntos
25% 24%
30%
25% 25%
22%
38%
31%
33%
0%
5%
10%
15%
20%
25%
30%
35%
40%
Sampling of Messaging Track Response Rates
Unique Message Tracks Tested
Enrollment rates remained high throughout Phase I
10
98.17%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Enrollment Rate
Overall Customer Enrollment Rate
• Enrollment rate is the percent of
consumers who have not opted out,
meaning they remain in the program
and continue to receive messages
• Our overall enrollment rate was
98.17% (n = 67,000)
• 15 test experiences had 100%
enrollment rates
• Juntos uses any variation in
enrollment rates, in addition to the
response rates, to help determine
which tracks we use going forward
Behavior Impact
11
Analyzing Phase 1 results
12
• At the end of Phase 1, Juntos analyzed results as cumulative averages. This means
that we compared the Juntos treatment group average transactions over a period of 1,
2, 3, and 4 months to the control group average transactions over a period of 1, 2, 3,
and 4 months.
• 500 customers who are outliers and cannot be matched to control group customers
due to their extreme/volatile behavior were removed from this analysis
• Cumulative metrics demonstrate the longer-term impact of the Juntos service
1 month
2 months
3 months
4 months
Average
transactions over
time period
Average transactions over time period
Average transactions over time period
Average transactions over time period
Cumulative average transactions:
Juntos increased four month average transactions by
7% across the portfolio of treated customers
13
• The Juntos portfolio of
treated customers was
impacted over the
course of treatment with
higher average
transactions by 6.6%
over a four month
transacting period
• Further analysis by
segment shows areas of
significant impact within
the portfolio
Percent increase in average transactions
attributable to Juntos over the time period
2
3
4
5
6
7
8
9
10
11
1 2 3 4
GCash Customers Average Transactions
Difference Between Juntos and Control Group Over Months of Phase 1
Juntos
Control
+ .6%
+ 3%
+ 3.5%
+ 6.6%
Months of Treatment
Which segments and transaction
types have experienced consistent,
significant KPI results?
Segmented analysis of KPI impact allows us to
understand where Juntos is driving value
14
Increase
Average
Transactions
Men
Women
Buy
Load
Active
Inactive
New
Accounts
Significant
impact
Insignificant
impact
P2P
Juntos increased inactive customer four month
average transactions by 20%
15
• Inactive customers did not make a
transaction in the 30 days prior to
treatment
• Inactive customers who received
Juntos increased their average
transactions above the control group
up to 20.5%
• These results are aligned with our
weekly cohort-level results which
showed that inactives were impacted
by Juntos after 5-8 weeks of
treatment
• Behavior change and customer
responses highlight that inactives
needed time to develop trust in
Juntos in order to engage
• A test that asked users why they
hadn’t used their account was very
successful in engaging customers to
respond
0
5
0
5
0
5
0
1 2 3 4
GCash Inactive Customers Average Transactions
Difference Between Juntos and Control Group Over Months of Phase 1
Juntos
Control
Percent increase in average transactions
attributable to Juntos over the time period
+ 18%
+ 19.5%
+ 20.5%
Months of Treatment
0
5
10
15
20
25
1 2 3 4
GCash Active Customers Average Transactions
Difference Between Juntos and Control Group Over Months of Phase 1
Juntos
Control
Active customers who received Juntos increased
transactions by 6% over four months
16
• Active customers have made
a transaction in the 30 days
prior to treatment and make
up 24% of the treated
customers
• Active customers with Juntos
had a four month transaction
rate that was 6% greater than
the control group
+ 3.7%
+ 3%
+ 5.5%
Months of Treatment
+ 1.2%
Percent increase in average transactions
attributable to Juntos over the time period
0.0
0.2
0.4
0.6
0.8
1.0
1.2
1.4
1.6
1.8
2.0
1 2 3
GCash New Customers Average P2P Transactions
Difference Between Juntos and Control Group Over Months of Phase 1
Juntos
Control
New GCash customers with Juntos had 9% higher
average P2P transactions
17
+ 14%
+ 9.2%
Months of Treatment
+ 17.7%
• Engaging customers from the
start of their relationship with
GCash resulted in higher usage
of P2P transactions
• New accounts also experienced
a 14% increase in MasterCard
usage in Month 1 of treatment
Percent increase in average transactions
attributable to Juntos over the time period
Juntos’ Phase 1 learnings helped to inform Phase 2
messaging strategies
18
• Customers liked choosing the language for their service: Customers who chose
between English, Taglish, and Tagalog messaging were highly responsive. We saw
many customers testing the system by changing their language preferences multiple
times and many also chose to receive message in one language and replied in
another.
• Loans were a topic of interest: Customers were responsive in terms of messaging
and behavior change when we talked to them about availing of a loan. Some
customers asked how they could avail of a loan through GCash during our tests of
conversations regarding credit.
• Customers were engaged and re-awakened when asked for feedback: In tests
that asked customers to give feedback on GCash, explain why they were inactive, or
how we can improve Juntos services, customers – including inactives – were
particularly engaged.
Example Conversation
19
Confidential
J
J
J
JUNTOS: We noticed that you have not used your
account in more than 3 months. Help us understand
why so that we can improve.
JUNTOS: Thank you for the information. We are
working everyday to bring you the best services that
we can.
November 16, 2015
sk for many other requirements too,
and 3. not to many partners to load
gcash card.
JUNTOS: You may load your GCash at the following:
Globe Stores, Puregold outlets, Tambunting or Villarica
Pawnshop branches. Hope this helps!
September 29, 2016
P2C
transfer
(P15)September 21, 2016
J
JUNTOS: If you have not done so already, please make a
transaction or a deposit. Accounts which are inactive for
6 months will incur a monthly P50 fee.
Load
(P60
)
Load
(P50)
October 1st, 2016
1. Can't do bank transfer from other
banks, like metrobank and the others..
2. System is always down whenever i
try to load my gcash card from SM,
they a
September 22, 2016
Example Conversation with an Inactive
Customer
Phase II Summary
21
Communication Metrics
22
15%
17%
15%
9%10%
9%
10%
8%
11%
22%
21%20%
16%
13%
19%
18%
0%
5%
10%
15%
20%
25%
Sampling of Messaging Track Response Rates
Many tests received over a 15% response rate
23
Unique Message Tracks Tested
• Applying our learnings on
engagement from Phase I, we
were able to reach high
response rates across many
tests
• Highest response rate on a
message track was 22% (n =
224)
• Offering customers virtual loan
officers was particularly
engaging; customers shared
their loan aspirations with the
officer of their choice: Joshua for
personal loans and Angela for
business loans
97% of customers remained enrolled in the service
24
97.6%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Enrollment Rate
Overall Customer Enrollment Rate
• Our overall enrollment
rate is 97.6% (n =
37,066)
Behavior Impact
25
Juntos learned categories of impact with Instaloan
and categories for which further testing is needed
26
Engage
customers on
Instaloan
Loan
applications
Loan
approval &
availment
Repayment
rates
GCash
transactions
Significant
impact
Insignificant
impact
1.15%
0.25%
0%
0%
0%
1%
1%
1%
1%
1%
2%
2%
2%
1
Percent of GCash Customers Who Applied for Instaloan
Juntos Group Post-Treatment and Control Group
Juntos
Control
Juntos drove loan applications at a rate 4x the control
group
27
• 1.15% of Juntos-treated
customers applied for
loans, resulting in 436
applicants
• By comparison, .25% of
the control group applied
for loans
• In a continuation of
service, given our learnings
from Phase II, we would
focus on driving the
absolute number of
applications up given what
we now know about credit-
related topics that engage
users
Percent of Customers who
Request Loan Post-Treatment
4x
Juntos-treated customers who availed of an Instaloan
missed less payments in the first 5 weeks
28
• Small sample sizes of customers who both applied for and were approved for an
Instaloan limited the ability to ensure robust testing results on repayment metrics
• However, a simple comparison of percentage of customers who missed at least
one weekly payment in the first five weeks of their loan cycle shows that 9%
less Juntos-treated customers missed a payment compared to control
group customers
• These outcomes mean Juntos is confident we can increase the applicant rate
and, from the pool of customers who avail of a loan, we don’t see any evidence
of those customers performing worse on the loan
0
2
4
6
8
10
12
14
0 average txns/month .1-10 average txns/month 10-30 average txns/month
Growth in Average Monthly Transactions of GCash Customers
Juntos Group and Control Group 1 Month Post-Treatment
Juntos
Control
Juntos-treated customers had higher growth in
average transactions compared to the control group
29
• Engaging with customers
on credit also increased
their usage of GCash
• After 1 month of Juntos
treatment, customers had
up to a 7.9% increase in
growth in average
monthly transactions
above the control group
• High transactors (10-30
average txns/month)
increased their average
transactions by 0.4
txns/month above the
control group
AverageTransactions1MonthPost-Treatment
3.7%
Customer Activity Category
7.9%
n = (21,066)n = (5,922) n = (3,037) n = (534) n = (1,930)n = (10,863)
Example Conversations
30
Confidential
J
J
J
JUNTOS: The messages you receive are part of a
free service from GCash. To stop this service, text
CANCEL
JUNTOS: Instaloan is money lending made easy. It
starts at P2500 and you can get it in your GCash
wallet in as little as 24 hours.
Example Loan Conversation
(Translated from Taglish)
Can I get an Instaloan?
JUNTOS: Thanks for sharing. This month, I can help you
with finances. I will send you questions and info twice a
week and you can reply to this number. -Joshua
January 16, 2017
JJUNTOS: If you want to speed up the process, send
NOW and I can send you all the information this week
instead.
January 19, 2017
J
Hi my name is Joshua from Instaloan. I am the eldest
child and I am grateful to have a good job that lets
me take care of my parents. How are you today
January 20, 2017
NOW
J
JUNTOS: Learn more about INSTALOAN, send the
number:
1. What is Instaloan?
2. How to apply?
3. How to cash out?
4. Requirements
5. Repayment
6. Get lower rates
Confidential
J
J
JUNTOS: To apply online, visit
fuselending.com/products/loan?id=instaloan. It will
take one business day to process your application.
My niece (or nephew) wants to buy a
book for school so I wanted to get a
loan so I can buy her/him that book.
JUNTOS: Thanks for sharing. I will help you with
managing your money and with Instaloan. Just text me if
you have related concerns. - Joshua
J
JUNTOS: I will get back to you about this. For Instaloan,
you can also visit fuselending.com or message “Fuse
Lending” on Facebook. Thank you. - Joshua
J
JUNTOS: I am happy to help you. Let us get started
with your goals, can you tell me what business you
had in mind? -Joshua
Okay, thank you. I also want to know
how I will find out if my application was
approved. Thanks.
J
JUNTOS: You will receive a message from Fuse Lending
if your Instaloan application is approved. Application
assessments take at least 1 business day.
January 20, 2017
2
January 22, 2017
Ok thank you
Example Loan Conversation
Confidential
J
J
JUNTOS: Thank you for your update. Auto-debit is
really the main method for repayment of Instaloan.
Deductions will be made to your GCash account
weekly.
OK. I hope my application will be
approved.
JUNTOS: Thank you and good luck with your application.
Just text us any time you need help. -Joshua
J
JUNTOS: You may increase your weekly payments to
Instaloan. To do this, dial *141# and press call. Choose
Pay Loan. Follow the instructions
Sir, for example that my loan is
approved and I want to pay double the
amount due each week. Is it okay to
pay twice as much as the amount due?
January 23, 2017
Sir, in case my loan is approved, would
it be okay to pay thru auto-debit with
my GCash? In case my loan is
approved, this is my preferred payment
method.
Thank you. My application has been
approved and the loan was given to me
in just 24 hours. Thanks.
January 25, 2017
January 26, 2017
Example Loan Conversation
Advancing financial inclusion to improve the lives of the poor www.cgap.org

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Real-Time Customer Interactions via SMS (Juntos and Mynt)

  • 1. Real-Time Customer Interactions via SMS 1 April 2017
  • 2. Deployment Highlights 2 Phase I of the Juntos-Mynt pilot was focused on engaging GCash customers and increasing GCash transactions. Phase II addressed topics of credit with GCash customers in an attempt to increase uptake and proper usage of the Fuse product Instaloan. Response rates on test messaging experiences were up to 38% Juntos-treated customers had an Instaloan application rate 4x the control group Over a four month period, Juntos increased average transactions of the treated customer portfolio by 7% above the control group (20% for inactives) Although we were engaging customers on topics of credit rather than GCash transactions, Juntos-treated customers transacted at a rate up to 8% above the control group Phase I Phase II
  • 4. • Phase II service was provided to customers October 2016-February 2017 • 38,000 GCash customers received Juntos services as a part of Phase II • 46 messaging tests were conducted Mynt partnered with Juntos to impact customers’ financial behavior. Phase I was focused on driving GCash transactions and the purpose of Phase II was to engage customers on topics of credit and the Instaloan product. Project Plan 4 KPI 2: Increase Instaloan uptake KPI 3: Increase Instaloan first week repayment rate KPI 1: Increase customer education on proper credit usage • Phase I service was provided to customers April-October 2016 • 70,000 customers were extended Juntos services • 106 messaging tests were conducted Phase I KPI 1: Increase GCash transaction rates Phase II
  • 5. Project Timeline 5 Project Stage Month Key Actions Technical Connection & Initial Design December 2015– March 2016 Technically integrated with SMSC and designed initial tests Phase I Engagement Design & Testing March-June 2016 Iterative tests performed as the Juntos system determines word choice, onramps and conversations to engage account holders Phase I Behavior Change & Testing June-September 2016 Juntos scales up most successful strategies from initial engagement design and testing Phase II Engagement Design & Testing October-November 2016 Iterative tests performed as the Juntos system determines word choice, onramps and conversations to engage account holders Phase II Behavior Change & Testing November 2016-February 2017 Juntos scales up most successful strategies from initial engagement design and testing Conclusion of First Deployment March 2017 Monitor & discuss opportunities for other areas of Juntos impact throughout deployment (e.g., decrease calls to call center)
  • 6. Juntos assesses impact using quantitative and qualitative data 6 •Which strategies are resulting in our highest response rates? •What is the overall enrollment rate? •Is Juntos driving financial behavior change? Quantitative • How are users responding to us? • What questions do customers have? • What value do they seem to find in Juntos? Qualitative
  • 9. Many tests received over a 20% response rate 9 • The highest response rate on a message track was 38% (n = 179) • The most successful experience gave customers a language option and increased menu usage, continuing to prompt users to respond even if they did not respond in the first two weeks of messaging • Our most successful engagement strategies received response rates of 20-38% • Customers were particularly engaged as we concluded Phase 1 and asked for feedback about their accounts and Juntos 25% 24% 30% 25% 25% 22% 38% 31% 33% 0% 5% 10% 15% 20% 25% 30% 35% 40% Sampling of Messaging Track Response Rates Unique Message Tracks Tested
  • 10. Enrollment rates remained high throughout Phase I 10 98.17% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Enrollment Rate Overall Customer Enrollment Rate • Enrollment rate is the percent of consumers who have not opted out, meaning they remain in the program and continue to receive messages • Our overall enrollment rate was 98.17% (n = 67,000) • 15 test experiences had 100% enrollment rates • Juntos uses any variation in enrollment rates, in addition to the response rates, to help determine which tracks we use going forward
  • 12. Analyzing Phase 1 results 12 • At the end of Phase 1, Juntos analyzed results as cumulative averages. This means that we compared the Juntos treatment group average transactions over a period of 1, 2, 3, and 4 months to the control group average transactions over a period of 1, 2, 3, and 4 months. • 500 customers who are outliers and cannot be matched to control group customers due to their extreme/volatile behavior were removed from this analysis • Cumulative metrics demonstrate the longer-term impact of the Juntos service 1 month 2 months 3 months 4 months Average transactions over time period Average transactions over time period Average transactions over time period Average transactions over time period Cumulative average transactions:
  • 13. Juntos increased four month average transactions by 7% across the portfolio of treated customers 13 • The Juntos portfolio of treated customers was impacted over the course of treatment with higher average transactions by 6.6% over a four month transacting period • Further analysis by segment shows areas of significant impact within the portfolio Percent increase in average transactions attributable to Juntos over the time period 2 3 4 5 6 7 8 9 10 11 1 2 3 4 GCash Customers Average Transactions Difference Between Juntos and Control Group Over Months of Phase 1 Juntos Control + .6% + 3% + 3.5% + 6.6% Months of Treatment
  • 14. Which segments and transaction types have experienced consistent, significant KPI results? Segmented analysis of KPI impact allows us to understand where Juntos is driving value 14 Increase Average Transactions Men Women Buy Load Active Inactive New Accounts Significant impact Insignificant impact P2P
  • 15. Juntos increased inactive customer four month average transactions by 20% 15 • Inactive customers did not make a transaction in the 30 days prior to treatment • Inactive customers who received Juntos increased their average transactions above the control group up to 20.5% • These results are aligned with our weekly cohort-level results which showed that inactives were impacted by Juntos after 5-8 weeks of treatment • Behavior change and customer responses highlight that inactives needed time to develop trust in Juntos in order to engage • A test that asked users why they hadn’t used their account was very successful in engaging customers to respond 0 5 0 5 0 5 0 1 2 3 4 GCash Inactive Customers Average Transactions Difference Between Juntos and Control Group Over Months of Phase 1 Juntos Control Percent increase in average transactions attributable to Juntos over the time period + 18% + 19.5% + 20.5% Months of Treatment
  • 16. 0 5 10 15 20 25 1 2 3 4 GCash Active Customers Average Transactions Difference Between Juntos and Control Group Over Months of Phase 1 Juntos Control Active customers who received Juntos increased transactions by 6% over four months 16 • Active customers have made a transaction in the 30 days prior to treatment and make up 24% of the treated customers • Active customers with Juntos had a four month transaction rate that was 6% greater than the control group + 3.7% + 3% + 5.5% Months of Treatment + 1.2% Percent increase in average transactions attributable to Juntos over the time period
  • 17. 0.0 0.2 0.4 0.6 0.8 1.0 1.2 1.4 1.6 1.8 2.0 1 2 3 GCash New Customers Average P2P Transactions Difference Between Juntos and Control Group Over Months of Phase 1 Juntos Control New GCash customers with Juntos had 9% higher average P2P transactions 17 + 14% + 9.2% Months of Treatment + 17.7% • Engaging customers from the start of their relationship with GCash resulted in higher usage of P2P transactions • New accounts also experienced a 14% increase in MasterCard usage in Month 1 of treatment Percent increase in average transactions attributable to Juntos over the time period
  • 18. Juntos’ Phase 1 learnings helped to inform Phase 2 messaging strategies 18 • Customers liked choosing the language for their service: Customers who chose between English, Taglish, and Tagalog messaging were highly responsive. We saw many customers testing the system by changing their language preferences multiple times and many also chose to receive message in one language and replied in another. • Loans were a topic of interest: Customers were responsive in terms of messaging and behavior change when we talked to them about availing of a loan. Some customers asked how they could avail of a loan through GCash during our tests of conversations regarding credit. • Customers were engaged and re-awakened when asked for feedback: In tests that asked customers to give feedback on GCash, explain why they were inactive, or how we can improve Juntos services, customers – including inactives – were particularly engaged.
  • 20. Confidential J J J JUNTOS: We noticed that you have not used your account in more than 3 months. Help us understand why so that we can improve. JUNTOS: Thank you for the information. We are working everyday to bring you the best services that we can. November 16, 2015 sk for many other requirements too, and 3. not to many partners to load gcash card. JUNTOS: You may load your GCash at the following: Globe Stores, Puregold outlets, Tambunting or Villarica Pawnshop branches. Hope this helps! September 29, 2016 P2C transfer (P15)September 21, 2016 J JUNTOS: If you have not done so already, please make a transaction or a deposit. Accounts which are inactive for 6 months will incur a monthly P50 fee. Load (P60 ) Load (P50) October 1st, 2016 1. Can't do bank transfer from other banks, like metrobank and the others.. 2. System is always down whenever i try to load my gcash card from SM, they a September 22, 2016 Example Conversation with an Inactive Customer
  • 23. 15% 17% 15% 9%10% 9% 10% 8% 11% 22% 21%20% 16% 13% 19% 18% 0% 5% 10% 15% 20% 25% Sampling of Messaging Track Response Rates Many tests received over a 15% response rate 23 Unique Message Tracks Tested • Applying our learnings on engagement from Phase I, we were able to reach high response rates across many tests • Highest response rate on a message track was 22% (n = 224) • Offering customers virtual loan officers was particularly engaging; customers shared their loan aspirations with the officer of their choice: Joshua for personal loans and Angela for business loans
  • 24. 97% of customers remained enrolled in the service 24 97.6% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Enrollment Rate Overall Customer Enrollment Rate • Our overall enrollment rate is 97.6% (n = 37,066)
  • 26. Juntos learned categories of impact with Instaloan and categories for which further testing is needed 26 Engage customers on Instaloan Loan applications Loan approval & availment Repayment rates GCash transactions Significant impact Insignificant impact
  • 27. 1.15% 0.25% 0% 0% 0% 1% 1% 1% 1% 1% 2% 2% 2% 1 Percent of GCash Customers Who Applied for Instaloan Juntos Group Post-Treatment and Control Group Juntos Control Juntos drove loan applications at a rate 4x the control group 27 • 1.15% of Juntos-treated customers applied for loans, resulting in 436 applicants • By comparison, .25% of the control group applied for loans • In a continuation of service, given our learnings from Phase II, we would focus on driving the absolute number of applications up given what we now know about credit- related topics that engage users Percent of Customers who Request Loan Post-Treatment 4x
  • 28. Juntos-treated customers who availed of an Instaloan missed less payments in the first 5 weeks 28 • Small sample sizes of customers who both applied for and were approved for an Instaloan limited the ability to ensure robust testing results on repayment metrics • However, a simple comparison of percentage of customers who missed at least one weekly payment in the first five weeks of their loan cycle shows that 9% less Juntos-treated customers missed a payment compared to control group customers • These outcomes mean Juntos is confident we can increase the applicant rate and, from the pool of customers who avail of a loan, we don’t see any evidence of those customers performing worse on the loan
  • 29. 0 2 4 6 8 10 12 14 0 average txns/month .1-10 average txns/month 10-30 average txns/month Growth in Average Monthly Transactions of GCash Customers Juntos Group and Control Group 1 Month Post-Treatment Juntos Control Juntos-treated customers had higher growth in average transactions compared to the control group 29 • Engaging with customers on credit also increased their usage of GCash • After 1 month of Juntos treatment, customers had up to a 7.9% increase in growth in average monthly transactions above the control group • High transactors (10-30 average txns/month) increased their average transactions by 0.4 txns/month above the control group AverageTransactions1MonthPost-Treatment 3.7% Customer Activity Category 7.9% n = (21,066)n = (5,922) n = (3,037) n = (534) n = (1,930)n = (10,863)
  • 31. Confidential J J J JUNTOS: The messages you receive are part of a free service from GCash. To stop this service, text CANCEL JUNTOS: Instaloan is money lending made easy. It starts at P2500 and you can get it in your GCash wallet in as little as 24 hours. Example Loan Conversation (Translated from Taglish) Can I get an Instaloan? JUNTOS: Thanks for sharing. This month, I can help you with finances. I will send you questions and info twice a week and you can reply to this number. -Joshua January 16, 2017 JJUNTOS: If you want to speed up the process, send NOW and I can send you all the information this week instead. January 19, 2017 J Hi my name is Joshua from Instaloan. I am the eldest child and I am grateful to have a good job that lets me take care of my parents. How are you today January 20, 2017 NOW J JUNTOS: Learn more about INSTALOAN, send the number: 1. What is Instaloan? 2. How to apply? 3. How to cash out? 4. Requirements 5. Repayment 6. Get lower rates
  • 32. Confidential J J JUNTOS: To apply online, visit fuselending.com/products/loan?id=instaloan. It will take one business day to process your application. My niece (or nephew) wants to buy a book for school so I wanted to get a loan so I can buy her/him that book. JUNTOS: Thanks for sharing. I will help you with managing your money and with Instaloan. Just text me if you have related concerns. - Joshua J JUNTOS: I will get back to you about this. For Instaloan, you can also visit fuselending.com or message “Fuse Lending” on Facebook. Thank you. - Joshua J JUNTOS: I am happy to help you. Let us get started with your goals, can you tell me what business you had in mind? -Joshua Okay, thank you. I also want to know how I will find out if my application was approved. Thanks. J JUNTOS: You will receive a message from Fuse Lending if your Instaloan application is approved. Application assessments take at least 1 business day. January 20, 2017 2 January 22, 2017 Ok thank you Example Loan Conversation
  • 33. Confidential J J JUNTOS: Thank you for your update. Auto-debit is really the main method for repayment of Instaloan. Deductions will be made to your GCash account weekly. OK. I hope my application will be approved. JUNTOS: Thank you and good luck with your application. Just text us any time you need help. -Joshua J JUNTOS: You may increase your weekly payments to Instaloan. To do this, dial *141# and press call. Choose Pay Loan. Follow the instructions Sir, for example that my loan is approved and I want to pay double the amount due each week. Is it okay to pay twice as much as the amount due? January 23, 2017 Sir, in case my loan is approved, would it be okay to pay thru auto-debit with my GCash? In case my loan is approved, this is my preferred payment method. Thank you. My application has been approved and the loan was given to me in just 24 hours. Thanks. January 25, 2017 January 26, 2017 Example Loan Conversation
  • 34. Advancing financial inclusion to improve the lives of the poor www.cgap.org