Mobile operators have many of the assets and capabilities required to become a major force in financial services, but they will also need to tap expertise in data analytics/machine learning.
Telco consumer financial services propositions
Telcos face a perplexing challenge in consumer markets. On the one hand, telcos’ standing with consumers has improved through the COVID-19 pandemic, and demand for connectivity is strong and continues to grow. On the other hand, most consumers are not spending more money with telcos because operators have yet to create compelling new propositions that they can charge more for. In the broadest sense, telcos need to (and can in our view) create more value for consumers and society more generally.