ST. LOUIS, Dec. 16, 2014 /PRNewswire/ -- Amdocs (NASDAQ:
DOX), the leading provider of customer experience solutions, today
announced the selection of Amdocs' Mobile Financial Services
solution, in association with Triotech's solution, that will
enable State Bank of India (SBI)
to offer mobile financial services to India's unbanked and under-banked population,
using the mobile network of Bharat Sanchar Nigam Limited's (BSNL).
The solution will be delivered under a five-year services
contract.
SBI, the largest public sector bank in India, and BSNL, the country's largest public
sector service provider, have come together to help the Indian
government achieve its goal of providing banking services to 75
million households, including millions of households in rural
India. The Amdocs Mobile Financial
Services solution will enable SBI and BSNL to offer customers of
any mobile operator in India the
option of owning a mobile wallet account. As a result customers can
take advantage of highly secure mobile banking services, such as
money transfer and bill payment, as well as pay for airtime
recharges. Furthermore, the solution will allow SBI and BSNL to
support an extended ecosystem of multiple merchants and business
correspondents (credit card companies, utility providers,
employers) on the mobile network, enabling easy payment and top-up
transfers to third parties.
Amdocs' Mobile Financial Services solution also includes a
dedicated set of services, spanning consulting, implementation,
systems integration, software and hardware operation, and
maintenance. Triotech will own the overall project management,
including developing the end customer and retail application and
portal, retail channel management and Tier 1 and 2 services.
"Our partnership with SBI is an additional step in bridging the
rural-urban digital divide, using BSNL's ubiquitous mobile network
and wide reach of agents," said Mr. Anupam
Shrivastava, director-CM at BSNL. "We are also delighted
with the coming together of two of the most trusted brands in the
field of telecom and banking, which will redefine the landscape of
mobile banking and payments. With a business model centering on
branchless banking, and strong partners such as Amdocs and
Triotech, we can ensure operational reliability and an efficient
cost structure that will allow us to offer financial services,
affordable for low-income households."
"The Amdocs Mobile Financial Services solution is yet another
testament to Amdocs' leadership role in driving the evolution of
the communications industry by introducing technological
advancements and enabling new business models and improved customer
experiences," said Patrick McGrory,
division president for Amdocs' emerging offerings. "By coupling
market-leading mobile financial services technology with a robust
set of dedicated services, we enable service providers and banks to
cost-effectively tap into previously unserved markets, with new
revenue streams, while enjoying operational peace of mind."
"Triotech's solutions play a significant part in this
partnership with Amdocs, BSNL and SBI by completing the ecosystem
with end customer and retail application development and service
delivery expertise," said Mr. Rajesh
Kaul, chief executive officer and co-founder of
Triotech.
The Amdocs Mobile Financial Services solution, announced today,
builds on technology from mobile financial services pioneer Utiba,
acquired by Amdocs in March this year. Utiba's technology has been
leading innovation in mobile financial services since 2001.
Supporting Resources
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About Bharat Sanchar Nigam Limited (BSNL)
Bharat
Sanchar Nigam Limited (BSNL), a wholly owned Public Sector
Enterprise of the Govt. of India,
is a leading Telecom Service Provider in India with pan India presence (except in Delhi & Mumbai Metro City Service Areas)
along with the dominant market share in the Landline Telephony,
Cellular Mobile Telephony, Internet & Broad Band services etc.
BSNL provides both Post-paid and Pre-Paid blackberry services. BSNL
has 3G services in more than 1200 cities in the country.
About Triotech Solutions Pvt Ltd
Triotech Solutions
Pvt Ltd is a leading company in the area of the Value Added
Services, Mobile Commerce Service Delivery and Software Solution
Development and has demonstrated a strong presence in all these
areas in the Indian Sub Continent. Company has its core strength
based on Solution, Service and Innovation and drives its success on
Customer satisfaction.
About Amdocs
For more than 30 years, Amdocs has
ensured service providers' success and embraced their biggest
challenges. To win in the connected world, service providers rely
on Amdocs to simplify the customer experience, harness the data
explosion, stay ahead with new services and improve operational
efficiency. The global company uniquely combines a market-leading
BSS, OSS and network control and optimization product portfolio
with value-driven professional services and managed services
operations. With revenue of $3.6
billion in fiscal 2014, Amdocs and its more than 22,000
employees serve customers in over 80 countries.
Amdocs: Embrace Challenge, Experience Success.
For more information, visit Amdocs at www.amdocs.com
Amdocs' Forward-Looking Statement
This press
release includes information that constitutes forward-looking
statements made pursuant to the safe harbor provision of the
Private Securities Litigation Reform Act of 1995, including
statements about Amdocs' growth and business results in future
quarters. Although we believe the expectations reflected in such
forward-looking statements are based upon reasonable assumptions,
we can give no assurance that our expectations will be obtained or
that any deviations will not be material. Such statements involve
risks and uncertainties that may cause future results to differ
from those anticipated. These risks include, but are not limited
to, the effects of general economic conditions, Amdocs' ability to
grow in the business markets that it serves, Amdocs' ability to
successfully integrate acquired businesses, adverse effects of
market competition, rapid technological shifts that may render the
Company's products and services obsolete, potential loss of a major
customer, our ability to develop long-term relationships with our
customers, and risks associated with operating businesses in the
international market. Amdocs may elect to update these
forward-looking statements at some point in the future; however,
the Company specifically disclaims any obligation to do so. These
and other risks are discussed at greater length in the Company's
filings with the Securities and Exchange Commission, including in
our Annual Report on Form 20-F for the fiscal year ended
September 30, 2014 filed on
December 8, 2014.
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