It’s 1:30 pm I’ve just left Kevin at a client meeting (we’ve been doing these meetings since 8:30 am) to rush across Singapore to the venue to pitch an idea to investors at an event that starts at 2:00 pm. I walk in the door, still dressed in a suit, to be greeted by my fellow Moxer’s that have gathered to pitch their apps.
They are all Millennials dressed in their company t-shirts and I am the middle-aged guy in the grey suit. I have never felt quite so old.
The MOX (Mobile Only Accelerator) program is an accelerator run by William Bean from SOSV out of Taipei. William is a VC that works on the principle that the best way to earn a return on your investment is to equip your companies with the tools they need to succeed. He built the program around a company that has an SDK built in to the ROM of low-cost smartphones distributed to the emerging markets.
The SDK manages the delivery of apps and advertisements to the phone. Delivering advertisement to the phones might seem like an invasion until you stop thinking like an affluent, urbanized individual. This is an inclusion initiative — the ads are one of the reasons that adults in the emerging markets can afford a smartphone.
The purpose of the program was to build an eco-system of apps that MOX could advertise and distribute through their channel partner. It might seem a little odd that the Chief Data Scientist from a company of data geeks would participate in this program — and I would understand your thinking.
Bear with me for a minute …
Mox’s channel partner has three main capabilities. They can:
1. push ads on to over 100m devices within their network,
2. push apps to the same devices, and
3. enable payments directly over the phone.
The basic idea of MOX is that the platform advertises apps within their eco system. Once a user responds they can transfer the app and process payments.
Substitute the word “loan” for the word “app” and you start to get a sense of why DemystData is here. We connect the MOX program with local lenders that provide risk capital, provide the know how needed to design an app that executes an application process and leverage phone data made available by the user (we ask for consent) to support a credit decision.
The data scientists amongst you are almost certainly asking yourselves the obvious question — how can data stored on a mobile phone be used to support a credit decision? I know that the CDR records and location data can support lending decisions but this is taking it the next level.
The pilot launches over the summer. I am looking forward to finding out how deep this rabbit hole goes …
By Craig Shaw, Chief Data Scientist
Subscribe to Our Newsletter
Keep up-to-date with DemystData’s latest news and insights.