JUNTOSThe Behavior Generation Company

- What is Juntos? !

- The power of Data at Juntos !

- Opportunities with Juntos

!

What is Juntos?

a Behavior Generation Company

but, what does a BEHAVIOR GENERATION COMPANY

like Juntos look like

+- Behavioral science, !- User centric design, !- Custom technology

Inclusive communication channel like SMSJUNTOS

We have been creating

SUSTAINABLE SAVING HABITS in low-income communities

A B

of our clients texted us back, wishing our system a Merry Christmas.

36%In December,

We have also been driving

USAGE OF MOBILE BANKING accounts

A B

El Banco :·:

Sucursal

!!El banco !Banca Móvil

!

!

The power of data at Juntos !

How are we ACTING ON DATA

to find the answers?

O

I

D

Observation

Iteration

Deployment

O One more time

JUNTOS custom

technology+

In our research

WE OBSERVE THE RELATIONSHIP Between you and your clients

O Observation

!!El banco !Banca Móvil

El Banco :·:

Sucursal

Bank StaffClient

1

At Juntos we

ITERATE MULTIPLE HYPOTHESES and analyze the results

I Iteration

Strategy 1

Strategy 2

Group 1

Group 2

+

+

=

=

RESULTS: - per user - overall

2

Sales people analogy

Most successful strategies are

DEPLOYED AT SCALE and results are analyzed

D Deployment

Strongest strategy

No strategy

Treatment group

Control group

+

+

=

=

RESULTS 1

RESULTS 2

3

4

New information plus

RE - ITERATION equals fast and sustainable learning

One more timeO

1

2

3

4

O

I

D

O

+ =

Learning curve

Today Tomorrow

Data

The design challenge of boosting

USAGE OF MOBILE BANKING accounts in Colombia

A B

El Banco :·:

Sucursal

!!El banco !Banca Móvil

El Banco :·:Sucursal

Thanks to data analysis we develop

PERSONALIZED CONVERSATIONS for each user rather than fixed scripts

JUNTOSOmar

Mónica

Doris

!!El banco !Banca Móvil

JUNTOS Experience in Colombia

• Response rates to Juntos program • Inactivity levels of accounts • Average balances in accounts

KPI’s

• Increase the response rates to the program • Decrease inactivity in usage of mobile banking accounts • Increase average balance

Goals

Timing 6 month pilot and the bank decided to continue working with Juntos after the pilot

+ 80,000 from financial inclusion segmentUsers

Users that receive at least one message from JUNTOS

JUNTOS

Iteración 2

Clients with JUNTOS Treatment group

The Control and the Treatment Groups The control group allows us to measure the impact of the Juntos Intervention

Users that never receive a message from JUNTOS

Clients without JUNTOS Control group

JUNTOS

Iteración 2

Clients with JUNTOS Treatment group

GROUP 2. Clientes who replied to

Juntos messages

We observed a decrease in inactivity levels in both groups compared to the inactivity levels in the control group

GROUP 1. Clients who never replied to Juntos

messages

Behavior Change in Responsive & Non Responsive Users Even the group of users that received Juntos messages but never texted back to us had more active usage of their accounts than the control group.

Users that never received a message from JUNTOS

Clients without JUNTOS Control group

JUNTOS

Iteración 2

Month 0 Month 1 Month 2 Month 3 Month 4 Month 5

%

X - 19%

X - 4%

X - 9%

X - 22%

Month 6

13% less inactivity in accounts with JUNTOS

% Inactivity in accounts with JUNTOS

% Inactivity in accounts without JUNTOS

Decreasing Inactivity of the Product The amount of inactive accounts in the treatment group was 13% lower than the amount of inactive accounts in the Control group.

X %

14% less inactivity in accounts with JUNTOS

X is the inactivity level at the beginning of the pilot. The specific figure is not presented as requested by our client in Colombia.

JUNTOS

Iteración 2

Col

ombi

an P

esos

Y + 24% Y

Increase in Average Balance Accounts with JUNTOS had an increase in balances 97% higher than the accounts without JUNTOS.

Y + 85% YY + 74% Y

Y + 37% Y

Y

Average monthly balance of accounts with JUNTOS

Average monthly balance of accounts without JUNTOS

74% Y

37% Y

Month 0 Month 1 Month 2 Month 3 Month 4 Month 5 Month 6Y is the the average of monthly balances at the beginning of the group. The specific figure is not presented as requested by our client in Colombia.

JUNTOS Higher Impact in Responsive Users By maximizing user response rates, Juntos has been able to influence additional behaviors

The impact in accounts of responsive users (GROUP 2) was higher, which guided us to to increase overall response rates. !For standard SMS campaigns, an acceptable response rate is 10%*. In Colombia, Juntos achieved response rates close to 30%.

Clients with JUNTOS Treatment group

!GROUP 2.

Clients who replied to Juntos messages

GROUP 1. Clients who never replied to Juntos

messages

* source: http://textassure.com/mobile-sms-ad-response-rates/

JUNTOS

Month 1 Month 2 Month 3 Month 4 Month 5 Month 6

Resp

onse

rat

e %

Increase in Overall Response Rates Thanks to our OIDO approach, JUNTOS went from 4% response rates to 30% response rates in less than three months.

22

30%

Coh

ort

1

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ort

2

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ort

3

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ort

1

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ort

2

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ort

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C. 2

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C. 1

32% 32%

19%

12%

4%

10% is a typical response rate in SMS campaigns.

* Fuente: http://textassure.com/mobile-sms-ad-response-rates/

!

Opportunities with JUNTOS

El Banco :·:

Sucursal

What behavior journeys

CAN WE CREATE ?

A B

- increase activity and balances - use of specific transactional channels - strengthen relationship client-bank - create healthy financial behaviors (savings) - ………….

JUNTOSThe Behavior Generation Company

1st place: Stanford Social Entrepreneurship Challenge

“The financial service industry’s best new product for the underserved” As voted by hundreds of senior executives at the U.S. industry’s annual CFSI conference

G20 innovation award for financial inclusion Global winner at the G20 Summit in Mexico City

AWARDS & PRESS