Protect your assets with HMD Softlock

HMD Softlock is a service developed by HMD Global that allows financing and leasing companies to remotely lock their financed or leased assets to prevent fraud and theft. It provides a secure way to protect assets and guarantee monthly EMI payments.

When a device is soft locked, it is not completely disabled or "bricked." Instead, certain key features are disabled or turned off. However, users can still make emergency calls and access specific apps, such as the payment app.

It is important to note that the user cannot reset the device as the lock has been designed to be tamper-proof. Once the required payment is received, the device will be unlocked and fully functional again.

HMD Softlock is designed to be scalable and can accommodate businesses of different sizes. Whether it's a small-scale operation or a large enterprise, the technology is robust and adaptable to meet the needs of growing businesses.

• Increased asset sales: HMD Softlock enables low-income and underbanked customers to purchase assets on a pay-as-you-go or installment basis, expanding the customer base.
• Secure sales model: It lowers the risk of late payments and asset theft, enabling various asset purchase and usage models in a competitive landscape.
• Secure asset logistics: HMD Softlock reduces the risk of theft during shipping and while assets are in transit or at the store.
• Protection against insurance fraud: It protects against fraudulent insurance claims and unauthorized sales of assets on the grey market.
• Trusted partner: HMD Softlock has a dedicated team of qualified professionals to assist with managing your company's needs.

If you are interested in implementing HMD Softlock for your company or learning more about its features, benefits, and implementation process, you can get in touch with the knowledgeable team at HMD. They will assist you further and provide the necessary information to get started.

HMD Softlock offers flexible operating modes for your business needs:

• Instalments model: The asset is unlocked by default but can be locked for reasons such as late payments. This model is suitable for regular payment schedules, such as monthly instalments over a set period.
• Pay-as-you-go model: The asset is locked by default and can be unlocked by purchasing usage credits. This model is suitable for users who need asset usage time on an as-needed basis.
• Network lock: Using the network lock feature, users can remotely lock their HMD Softlock enabled devices to a specific network operator's network, eliminating the need for manual SIM lock. This feature can be combined with Instalments or PAYG model.

HMD Softlock allows financing parties to remotely lock assets in the event of late payments. By locking the asset, it restricts its usage and serves as an incentive for users to make timely payments to avoid disruptions in asset functionality.

HMD Softlock helps financing companies overcome challenges such as payment defaults, fraud, and the risk of theft or loss. It simplifies the process of recovering outstanding payments, prevents fraudulent cases, and provides secure asset logistics to minimize theft risks.