Orange, a leading telecommunications operator, has announced a strategic partnership with South African fintech Jumo to revolutionize its mobile money division, Orange Money.
By integrating Jumo’s advanced artificial intelligence and data analytics tools, Orange aims to refine customer scoring, reduce processing times, automate decision-making, and tailor loan amounts to individual user profiles, enhancing financial inclusion across emerging markets.
The partnership will expand Orange Money’s offerings beyond basic loans, introducing targeted financial products for small entrepreneurs, merchants, and informal workers. Jumo’s technology, boasting a default rate below 4%, ensures robust risk management while improving user experience. The collaboration will initially focus on French-speaking African countries, with plans for broader expansion.
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“This strategic alliance will enable the deployment of diverse credit products across multiple markets by leveraging various lenders, creating a new microfinance market for the unbanked,” Orange stated.
The initiative builds on Orange Money’s success, with the 2024 Corporate Social Responsibility Report noting 340,000 users of Tik Tak loans and over €160 billion in transactions.
Andrew Watkins-Ball, Jumo’s founder, emphasized the partnership’s potential: “This collaboration, based on Orange Money’s mobile payments and transfer platforms, will offer customers a wider range of financial services and enable our banking partners to expand into new markets.”
The initiative aims to promote access to responsible and tailored financing, strengthening the economic impact of mobile credit in underserved regions.
