The solution, ‘mobiquity’ is designed to integrate rapidly and seamlessly with a wide ecosystem of utility companies, merchants, money transfer operators and third-party payment systems, creating a converged ecosystem, powered by interoperability.
Mahindra Comviva has announced that its mobiquity solution is ready to enable payments bank and small finance bank licensees to launch their financial services in India.
“Payments and small finance banks will complement the core banking sector by enabling an ecosystem that improves last-mile connectivity. It will be based on a self-service model, ushering a digital payments revolution, which will help in accelerating India’s journey towards a cashless society. Also, for ensuring a greater user experience, payments banks will need to focus on contextual and locational awareness in order to guide customers through their entire buying journey,” said, Srinivas Nidugondi, Senior VP & Head of Mobile Financial Solutions, Mahindra Comviva.
“Mobility will be the key lever in the fast evolving Indian banking landscape. Acknowledging this change, Mahindra Comviva has enhanced its leading mobile financial solution mobiquity® to meet the needs of the payments and small finance banks in India,” further added Srinivas Nidugondi.
The solution, ‘mobiquity’ is designed to integrate rapidly and seamlessly with a wide ecosystem of utility companies, merchants, money transfer operators and third-party payment systems, creating a converged ecosystem, powered by interoperability. In addition to on-premise deployment, the solution can also be hosted on a central server, lowering capital expenditure. The solution has integrated analytics and reporting tools which helps it to align rapidly to changing market needs.
“mobiquity® will empower payments and small finance banks to be agile to the markets without compromising on security. Apart from delivering convenience to their customers, the solution will help the licensees in new customer acquisitions, launch innovative mobile financial services rapidly, create long-term loyalty and seize new revenue opportunities to expand their market reach,” said Vamsi Madhav, Vice President, Mobile Financial Solutions at Mahindra Comviva.
