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Highlights Fully digital, instant, and paperless consumer financing for Nokia smartphones. Tailor-made loans thanks to AI and Machine Learning technologies. HMD Softlock technology ensures consumer fraud prevention. Partnership with DMI Finance for compliant and customer-centric solutions. In a market where consumer financing options are rapidly evolving, HMD Global has stepped up to introduce HMD EasyPay, a tailor-made financial solution to ease the process of acquiring Nokia smartphones. We sat down with Ravi Kunwar, the Vice President for India & APAC at HMD Global, to discuss this innovative program. In this detailed Q&A, Kunwar sheds light on what makes HMD EasyPay unique, how AI and Machine Learning technologies are leveraged, and what safeguards have been put in place to prevent consumer fraud, among other insights. Here's what he had to say. Ravi, can you describe in your own words what HMD EasyPay is all about? Absolutely, HMD EasyPay is a pioneering financial solution that we've designed to make it easier for consumers to purchase Nokia smartphones in the retail market. What sets it apart is its fully digital, instant, and paperless nature. We're talking about an incredibly streamlined and user-friendly process. We've partnered with DMI Finance to offer attractive, easy-to-understand loans that are specifically geared toward those consumers for whom affordability may be a barrier to owning a Nokia smartphone. What prompted HMD to enter this market? The impetus really came from recognizing a shift in consumer attitudes, particularly among younger generations and in tier-one and tier-two cities. These consumers are increasingly looking for immediate gratification and affordable options. With consumer financing becoming more acceptable and actually growing exponentially, it became apparent that we had a ripe opportunity. Given our expansive product range that includes mobile phones, feature phones, and smartphones, it seemed like the perfect time to offer a solution that directly addresses these evolving needs for affordability and immediacy. You mentioned AI and ML technologies in your press release. How are they being incorporated? Great question. AI and Machine Learning are absolutely critical to this venture because they allow us to offer highly personalized financial solutions. These technologies work behind the scenes, analyzing various data points that are publicly available. This data-driven approach helps us tailor the loan's terms like its tenure, EMIs, and even eligibility, specific to each individual consumer. So, it's not a one-size-fits-all offering but a well-calibrated, individual-centric financial solution. Why did you choose to partner with DMI Finance for this initiative? We chose DMI Finance because they have a sterling reputation and a successful track record in consumer financing in India. Their values and objectives align closely with ours, particularly when it comes to being customer-centric and fully compliant with regulatory standards as set by the Reserve Bank of India. It was a natural fit and made our decision relatively straightforward. How does HMD EasyPay compare to competitors in this space? One major advantage is its entirely digital nature, which means you don't have to bother with tedious paperwork. Additionally, because of the underlying AI and ML technologies, every loan can be customized to the individual. We're talking about fine-tuning the terms, the tenure, and the EMIs according to each person's financial profile. It's also incredibly convenient. You can initiate the process in a retail store, or if you prefer, a retailer can come to your home and set it up for you. The platform is accessible through a URL, meaning it's not tethered to a specific device or location. It's as flexible as it gets. What safeguards have you implemented to prevent consumer fraud? Fraud prevention is a top priority for us, especially given the digital nature of this offering. One innovative feature we've implemented is our proprietary HMD Softlock technology, which allows the device itself to serve as collateral. If there's a default on payment, the Softlock technology can be activated. Plus, DMI Finance brings a wealth of expertise in risk mitigation and consumer understanding. They have effective algorithms and procedures in place to minimize the chances of bad loans or fraudulent activities. What are your plans for integrating EasyPay into more products over the next five years? We have ambitious plans. Right now, EasyPay is available for all our C series and G series Nokia smartphones. Moving forward, we intend to integrate it into every new smartphone that we launch in India. As for other electronic accessories like earbuds, the lower average selling price presents a different set of challenges. So for the immediate future, our primary focus will be on integrating EasyPay with our range of smartphones. FAQs What is HMD EasyPay? HMD EasyPay is a digital financing solution designed to simplify the purchasing process for Nokia smartphones. Partnered with DMI Finance, it offers paperless, instant loans tailored to individual consumer needs. How does AI and ML work in HMD EasyPay? AI and Machine Learning technologies analyze publicly available data on individual consumers. This allows the platform to offer personalized loan tenures, EMIs, and eligibility, delivering a unique and tailored financial solution for each customer. What are the fraud prevention mechanisms in HMD EasyPay? HMD EasyPay employs HMD Softlock technology, enabling the device itself to serve as collateral. This is complemented by DMI Finance’s algorithms and risk mitigation strategies to prevent bad loans and fraudulent activities. Is HMD EasyPay only for smartphones? Currently, HMD EasyPay is focused on Nokia's smartphone range but has future plans to integrate the service into new launches. Accessories present a different challenge due to their lower average selling price. Also Read: Nokia C32 India launch date leaked before official announcement: Check specifications & expected price Also Read: Nokia C22, C32, G22 with up to 3 days’ battery life, Unisoc processors launched: Specifications, Price, Availability & Colours

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