Amdocs has announced that Frost & Sullivan has honoured Amdocs with its 2015 Latin American Mobile Financial Services Company of the Year Award.
The Frost & Sullivan award letter states that the Amdocs Mobile Financial Services solution “differentiates itself from other competitors in the mobile space because it can provide much more than a payment gateway. Amdocs innovative solution is a technological enabler for economic growth in emerging markets, allowing consumers to gain access to financial services previously impossible, and merchants and banks an opportunity to achieve new revenue streams from a previously unserved market segment.”
“Amdocs strong software development process, business process expertise, and innovative fraud prevention system is likely to give the Latin American mobile payments ecosystem the chance it needs to reach greater mainstream adoption,” said Ben Gresham, Best Practices research analyst, Information & Communication Technology, Frost & Sullivan.
Patrick McGrory, division president for Amdocs emerging offerings said: “This Frost & Sullivan Award provides independent validation of our approach to mobile financial services and the important benefits they bring to un- and under-banked people around the world. According to market research, two billion people in the world do not have a bank account, yet an estimated 1.7 billion do have access to a mobile phone. This represents a huge market opportunity for network operators and banks, and one which does not end with financial inclusion of the unbanked.”
Amdocs launched its Mobile Financial Services solution in 2014. The solution enables mobile network operators, banks, and other financial institutions to drive adoption of financial services delivered over feature phones or smartphones, addressing the fundamental need of unbanked and under-banked populations worldwide for accessible and affordable banking services.
