As smartphone financing expands rapidly in emerging markets, securing financed devices has become crucial for businesses and consumers alike.
HMD Global has developed HMD Softlock, an in-house platform designed to help financing and leasing companies remotely lock smartphones and other assets in cases of non-payment, theft, or fraud.
How Softlock works
Sanmeet Singh Kochhar, Senior Vice President of HMD Global for Europe and AMEA, explained the system.
“HMD Softlock is an in-house asset protection platform that enables financing and leasing companies to remotely lock smartphones or other financed assets in the event of non-payment, theft, or fraud. It was developed with a clear mission to help businesses secure their investments, particularly in markets where smartphone financing is rapidly growing and risk management is critical.”
He further described the platform’s practical operation: “It is simple and highly effective. Financed or leased assets like smartphones can be remotely locked through our platform if payments are missed or fraud is suspected. Once locked, the device becomes unusable. That prevents further misuse and motivates users to regularize payments.”
Current users and flexibility
Kochhar highlighted current users such as M-KOPA, a fintech platform operating in Africa.
“A good example is our partnership with M-KOPA, a leading fintech platform in Africa. They provide smartphone financing in Kenya, Uganda, Nigeria, Ghana & South Africa. With Softlock, M-KOPA has scaled its device financing program fast and securely while increasing smartphone access for consumers.”
He also emphasized the platform’s adaptability.
“We support multiple operating modes:
- The Installments Model, where devices are unlocked by default and only locked in case of late payments.
- The Pay-as-you-go (PAYG) Model, where devices start off locked and are unlocked based on credit purchases.
- We also offer a Network Lock feature, allowing businesses to lock devices to a specific carrier network remotely no SIM swap or manual configuration needed.
This flexibility makes Softlock applicable not just to smartphones, but potentially to motorbikes, solar kits, or any financed hardware in the future.”
Security and digital inclusion
On the broader impact of the platform, Kochhar said: “It is about enabling responsible digital growth. Financing partners are more likely to serve rural or underbanked communities when they know their assets are protected. That opens access to smartphones, connectivity, and digital services for millions in a secure, sustainable way.”
Regarding security and compliance, he noted: “Security and trust are core to what we do. HMD Softlock is built with GDPR compliance, strong data protection protocols, and robust fraud prevention measures. As we expand our global footprint, we are continuously enhancing the platform to ensure it remains reliable, secure, and privacy-conscious.”
Kochhar concluded: “HMD Softlock is more than a platform, it is a gateway to secure digital inclusion. It gives financing companies the confidence to grow, and customers the chance to access the technology they deserve.”
tanvir@dubainewsweek.com
