7TECH provides a device management solution that integrates directly with smartphones to automate payment reminders and restrict device functionality for late payments. This approach ensures consistent communication with users, even if their contact information changes, while also enabling targeted on-device marketing through non-removable widgets that reward timely engagement.
Funding
Funding not disclosed
Founders
Product
Problem
Many lenders struggle with timely loan repayment, leading to increased operational costs and potential losses. Traditional communication methods are often ineffective due to outdated contact information and the ease with which borrowers can ignore reminders.
Solution
7TECH provides a device management solution that integrates directly with Android smartphones to automate payment reminders and, if necessary, progressively restrict device functionality for late payments. By pre-installing the 7TECH MDM (Mobile Device Management) solution, lenders can ensure consistent communication with borrowers, even if contact details change. The system uses non-removable widgets and push notifications to deliver payment reminders and other relevant information directly to the device's home screen, promoting timely engagement and reducing delinquency rates.
Target Audience
The primary target audience includes lenders, microfinance institutions, and other businesses that provide loans or payment plans involving Android smartphones.
Features
- Automated payment reminders via persistent, non-swipeable push notifications
- Progressive restriction of device functionality (e.g., access to certain apps) upon late payment
- Non-removable MDM solution that persists even after SIM card changes
- Remote installation via wire, QR code, or IMEI for new and used devices
- Customizable widgets for on-device marketing and delivery of bonus points for timely payments
- Geo-targeting capabilities for location-based advertisements and notifications
- Compatibility with Android 10+ devices
- Data analytics for displaying relevant content directly on the device