Mexmovil and Intent HQ have announced their partnership to empower and influence the credit scores of women in emerging economies. The Mexican virtual mobile operator will leverage Intent HQ’s privacy-safe AI Edge platform to curate more informed credit score models, helping women access money at a more affordable rate. The trial will address 20,000 women in Mexico and commence in May 2023, with results expected in Q3 2023.
In emerging economies, women have poor access to credit, and where they do, interest rates are extortionate. An estimated 30 million women subscribe to micro-loans in Mexico at an annual interest rate of anywhere between 40-130%. Lack of access to affordable credit can make the difference between feeding their children, opening a bank account, or successfully applying for a job.
Using Edge AI to Empower Women in Emerging Economies
Intent HQ’s Edge AI platform will safely identify insights from telecommunications data, providing women with economic empowerment and fairer access to credit. Women in emerging economies face a wide range of challenges, and the partnership aims to reduce the financial burden on these women and promote their financial independence.
Utilizing Edge AI to Promote Economic Freedom for Women
Nadia Macicakova, CEO of mexmovil, expressed her excitement about the partnership and the opportunity to fill gaps in women’s lives in a safe and ethical way. As a female startup owner, she aims to empower others like her to be financially independent.
The Challenges Female Entrepreneurs Face in Accessing Capital
According to Harvard Business Review, women are massively under-represented among both venture-backed entrepreneurs and VC investors, with companies founded solely by women receiving less than 3% of all venture capital investments and women accounting for less than 15% of check-writers. As a result, female entrepreneurs often face significant challenges in accessing the capital they need to start and grow their businesses.
Intent HQ is a privacy-first Customer Analytics Platform that ensures organizations truly understand their customers on an individual level to deliver real value in marketing, customer experience, and monetization. Mexmovil is a virtual mobile operator and big data brand that offers the entire spectrum of mobile services with 95% coverage within Mexico.
The partnership between mexmovil and Intent HQ highlights the positive impact AI can have on society, promoting gender equality and economic empowerment. If successful, the initiative could serve as a blueprint for similar projects in other emerging economies, potentially improving the lives of millions of women worldwide.
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