 "Bharti Telesoft To Enable Barclays GRCB mBanking Service")
Bharti Telesoft, a provider of integrated VAS solutions for mobile operators in emerging markets, has announced its partnership with Barclays Global Retail and Commercial Banking (GRCB) to deliver the technology architecture for their mobile banking service - ‘Hello Money’. Hello Money enables Barclays customers to access banking services anytime/anywhere on their cell phones.
Hello Money is based on Bharti Telesoft’s Mobiquity mBanking platform. It operates on USSD (Unstructured Supplementary Service Data) technology which is fast, secure and easily accessible as compared to the existing platforms, such as text messaging or GRPS. Through the USSD technology, Hello Money is available on all GSM phones in all major networks in 40 cities.
Barclays Hello Money has the potential to dramatically impact the way in which India’s huge unbanked population uses financial services. By turning a GSM mobile handset into a bank, customers can use a whole range of financial services that were previously unavailable.
Elaborating on the announcement, Anil Gajwani, CTO, Bharti Telesoft said, “We are excited about this new initiative from Barclays that is developed on the Mobiquity platform. This partnership gives us an excellent opportunity to showcase our technological commitment towards mBanking in India”.
Hello Money is easy to use and is a unique service, which enables customers to make account enquiries and financial transactions, including fund transfers, bill payments, requests and other banking transactions. This platform is already running successfully in rapidly growing markets, such as Bangladesh, as well as across the African continent.
Bharti Telesoft’s Mobiquity platform embraces the mobile phone as a convenient, cash-free and card-free payment and transaction medium, delivering a range of financial and commercial applications, all designed to make every day financial tasks easier to perform.
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