Providing new and exciting ways to pay for goods, the FinTech industry is booming and the world of financial services is going through some fundamental, and essential, changes. With a long history of working with different businesses in sectors across the financial industry, Vodafone has a sharp focus on ensuring that its customers succeed in the future.
Known for its telecommunications services, Vodafone is keen to accelerate its journey within the FinTech sector to create adjacent category revenue streams. Driving forward this journey is Varun Krishnan, Vodafone’s Managing Director of FinTech.
The FinTech part of Vodafone’s business comprises the company’s carrier billing platform, its insurance business and its device financing and Device Lifecycle Services.
The carrier billing platform addresses customer needs around convenience and security, allowing customers to pay for their digital content on their bill as well as underpinning the company’s ability to bundle mobile content (e.g. Spotify, Netflix etc.) with its tariffs.
For the insurance part of its business, Vodafone is focused on adding to its existing smartphone services by offering insurance to its customers. While in the past this has largely been a retail only product, it has now evolved to an omni-channel OTT digital insurance product that offers customers ultimate cover and flexibility.
The third line of business is the recently set up Device Lifecycle Services business. This underpins Vodafone’s ambition to support the circular economy by offering flexible financing and trade-in options to extend device lifecycles and promote reuse and recycling.