Bharti Telesoft wins award for mobile banking

Golden Peacock Innovation Award recognizes economic and social benefits of m-commerce

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By  Mark Sutton Published  January 21, 2008

Telecoms software and solutions specialist Bharti Telesoft has been awarded the Golden Peacock Innovation Award for its mobiquity mobile banking platform. The award is presented by India's Institute of Directors, in recognition of how the mobile banking service can provide affordable access to banking services for all, and encourage economic development.

The mobiquity platform provides an end-to-end mobile payment service, that can be used by mobile subscribers without access to normal banking services. The solution, which runs over SMS, WAP or GPRS, allows mobile payments between people, merchants, and agencies.

Sanjiv Mital, Vice-Chairman, Bharti Telesoft commented: "I would like to thank the Golden Peacock jury for recognizing the work done by Bharti Telesoft in the field of mBanking using the mobiquity platform. This award has been given in view of the ability of mBanking to transform financial transactions for the under-privileged, and in recognition of the leading role Bharti Telesoft is playing in the area of mCommerce and mBanking. We believe our suite of mCommerce applications will make a major impact on individuals who previously have had no or little access to financial services - and we see a wider benefit in the additional overall economic growth that will result from financial empowerment in emerging markets," remarked

Following successful deployments in Asia, Bharti Telesoft now reports that it is in discussions with telecoms operators in Egypt, Jordan and the UAE about deploying the solution in the MENA region.

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