Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

CreditPilot and Tata Communications enter a financial technology partnership

Posted On: 2019-09-17 13:27:20

Tata Communications, a leading global digital infrastructure provider, and CreditPilot, a financial technology company specializing in digital and mobile financial services, transactional and payment infrastructure, have come together to offer mobile and digital financial services solutions to mobile operators.

Under the terms of a joint Engagement Agreement (EA), Tata Communications and CreditPilot will form a joint task force to assess the integration of the provision of financial services with the Tata Communications MOVE™ - Mobile Virtual Network Operator Enabler (MVNE) platform. CreditPilot will provide consultancy services necessary to ensure continued regulatory compliance of financial products created as a result of the engagement. The EA also lays down a foundation for the two companies to engage in joint marketing and sales activities.

CreditPilot already leverages the MOVE - SIM CONNECT™ offering to provide global mobile connectivity to their enterprise users, enabling seamless mobility and access to voice and data services to users on the move.

According to Mastercard research, 15 countries account for over 60% of the global unbanked population. 607 million people in these countries have a mobile phone, but do not have a bank account yet. Through this engagement, CreditPilot and Tata Communications aim to facilitate the proliferation of financial services to prepaid mobile users through MNOs and MVNOs. The association will enable development in areas with high percentage of unbanked population and high volume of mobile phone usage penetration, through easy to use banking and digital financial services.

The EA encompasses two principal classes of mobile and digital financial services: first, ValueAdded Services intended for the subscribers of mobile network operators (MNOs) or mobile virtual network operators ( MVNOs); and second, financial services for MNOs' internal use.

As a result of the engagement, MNOs and MVNOs can benefit from the essential financial and banking tools for everyday digital business: multi-method omni-channel payment acquiring, digital goods marketplace engine, treasury and FX, settlement and clearing operations.

MNOs and MVNOs will be able to offer regulated financial services including national P2P money transfers between mobile subscribers, international money remittance, access to mobile commerce, wallets and payment cards, micro-insurance, etc. Services will be accessible on any handset via USSD, messaging, chatbots, web and mobile apps. Multiple payment methods such as prepaid airtime, direct carrier billing, payment cards, bank accounts and e-wallets will be supported to enable fast service uptake.

Commenting on the engagement, Tim Sherwood, Vice President, Global Mobility and IoT Services, Tata Communications, said, "With more than 1.7 billion people around the world still without access to electronic payments, banking, and other financial services, mobile service providers are uniquely positioned to enable financial transactions through mobile and digital channels and accelerate financial inclusivity. We've had a successful partnership with Credit Pilot, providing them seamless global connectivity through our global mobile access and relationships with over 640 mobile operators. We look forward to extending our association and working together to give our mobile service provider customers the right set of tools to open new revenue streams and streamline their internal financial processes."

Felix Polianski, Vice President for Mobile and Digital Financial Services at CreditPilot, added: "Mobile financial services are mobile network operators' way to future-proof their business, ensure revenue growth and customer retention. At the same time, mobile financial services bring about the true equality of financial services access for all people, regardless of their location and income. This shared vision of the future of both finance and telecommunications is the cornerstone of our partnership with Tata Communications".

Shares of TATA COMMUNICATIONS LTD. was last trading in BSE at Rs.428.1 as compared to the previous close of Rs. 427.4. The total number of shares traded during the day was 29544 in over 1051 trades.

The stock hit an intraday high of Rs. 430.95 and intraday low of 424.15. The net turnover during the day was Rs. 12647220.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Ambuja Cements Ltd Q3 CY2019 consolidated PAT at Rs. 385.09 crore

SNL Bearings Ltd Q2 net profit declines to Rs. 1.28 crore

Sacheta Metals Ltd Q2 PAT at Rs. 0.41 crore

Sasken Technologies Ltd reports consolidated PAT of Rs. 22.74 crores in Q2 FY 2019-20

TVS Motor Company launches TVS Racing Performance Gear at MotoSoul 2019

Info Edge India Ltd to invest Rs. 1.5 crore in LegitQuest

Responsive Industries Ltd launches IMPACT Carpet Touch®

LTI to acquire Powerupcloud Technologies

IndiGo inaugurates flights to Ho Chi Minh City, its 2nd destination in Vietnam

Lupin's Nagpur facility receives EIR from the U.S. FDA

Indoco's Clinical Research Organisation receives zero 483s from USFDA

Sundaram-Clayton Ltd Q2 consolidated PAT jumps to Rs. 149.77 crore

Alicon Castalloy announces Q2 FY20 Earnings

DFM Foods Ltd expands capacity to 48400 MT

ARSS Infrastructure Projects Ltd's JV bags order from CONCOR

QGO Finance Ltd reports PAT of Rs. 0.14 crore in Q2

L&T to acquire Old Lane stake in L&T Infrastructure Development Projects Ltd

ICRA reaffirms long term rating of The Indian Card Clothing Company Limited

Quick Heal Technologies Limited receives Patent for its Signatureless Behaviour-based Detection Technology

Apollo Micro Systems Ltd to acquire 51% in Ananya SIP RF Technologies Pvt Ltd

JSW Steel Ltd raises Rs. 2000 crores through NCDs

Infosys Accelerates Digital Transformation for Enterprises with Oracle Cloud

IndoStar Capital Finance Limited updates on liquidity position

CARE places ratings of JSW Energy Ltd group on rating watch with negative implications

Patel Engineering Ltd allots 22,33,29,786 rights equity shares

Amber Enterprises India Ltd increases stake in Ever Electronics Pvt Ltd to 70%

Indiabulls Housing Finance Ltd issues offer to debenture holders of NCDs maturing in November, December for pre-mature redemption

LTI Constant Currency Revenue growth up 11.9% YoY

Patel Integrated Logistics Ltd board approves rights issue

Cipla acquires novel anti-infective Elores to further antimicrobial stewardship in critical care in India

I S T Ltd Board approves Sub-division of equity shares

CRISIL reaffirms long-term rating of Indiabulls Housing Finance Ltd

DIL Limited is now Fermenta Biotech Ltd

Jay Bharat Maruti Ltd Q2 consolidated PAT drops to Rs. 3.76 crore

Larsen & Toubro Infotech Ltd board declares first interim dividend of Rs. 12.50 for FY2019-20

Hero MotoCorp announces 5th edition of The Hero Campus Challenge

ZEE Entertainment posts strong performance in a challenging environment

Shemaroo Entertainment Ltd to raise Rs. 250 crores

Larsen & Toubro Infotech Ltd to acquire PowerupCloud

CARE A+ rating assigned to JMC Projects' NCD issue

Brickwork Ratings assigns credit ratings to Vikas EcoTech Ltd

Shemaroo Entertainment Ltd Q2 FY 2019-20 consolidated net profit at Rs. 19.49 crores

ZEE Entertainment Enterprises Ltd posts consolidate PAT of Rs. 413.23 crores in Q2

Larsen & Toubro Infotech Ltd Q2 consolidated PAT at Rs. 360.1 crore

Cyient Ltd announces Q2 FY2019-20 results

TVS Motor Company's EBITDA increased from 8.6% in Q2 of FY 2018-19 to 8.8% in Q2 of FY 2019-20

Mastek Ltd Q2FY20 Total Income at Rs 252.7 crore

Ind-Ra affirms India Glycols Ltd's long-term rating

AksharChem India Ltd announces shutdown of Vinyl Sulphone plant for repairs and maintenance

FDC Ltd to acquire 'ENTEROPLUS' from GlaxoSmithKline Pharmaceuticals Ltd







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019