Bharat Sanchar Nigam Limited (BSNL), in partnership with the State Bank of India, has selected Amdocs and Triotech Solutions to provide mobile financial services to the rural areas in the country. The financial services will be provided to the rural population using the mobile network of BSNL. For the project, Amdocs and Triotech will provide their mobile banking solutions to SBI under a five-year services contract.
The project is part of the government?s goal of providing banking services to 75 million households, especially those in rural areas. 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. Further, 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.
Triotech will own the overall project management, including developing the end customer and retail application and portal, retail channel management and Tier I and II 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 Anupam Shrivastava, director-CM at BSNL. ?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.?
?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,? said Patrick McGrory, division president for Amdocs? emerging offerings
?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 Rajesh Kaul, chief executive officer and co-founder of Triotech.
