Amdocs announced the selection of its 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.
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