State Bank of India (SBI) has selected Amdocs’ Mobile Financial Services solution to offer affordable and secure mobile banking services to unbanked and under-banked population in rural India.
To execute this five-year services contract, Amdocs has partnered with Indian company Triotech and state-owned telecom operator Bharat Sanchar Nigam Limited (BSNL).
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Triotech will own the overall project management, such as development of end customer and retail application and portal, retail channel management and Tier 1 and 2 services.
Amdocs claims that its solution will enable SBI and BSNL to offer customers of any mobile operator in India the option of owning a mobile wallet account.
The solution will also help SBI and BSNL to support an extended ecosystem of various merchants and business correspondents on the mobile network to facilitate payment and top-up transfers to third parties.
Amdocs added that its solution incorporates a dedicated set of services, spanning consulting, implementation, systems integration, software and hardware operation, as well as maintenance.
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