Comviva, the global leader in providing digital solutions, has won the 2020 Glotel Awards, 2020 Telecoms World Awards, 2020 CX Asia Excellence Award and The RemTECH Awards 2020 for its mobiquity® – COVID-19 Response.
Comviva was recognized as the winner in the ‘Mobile Money Mastery’ category at the 2020 Glotel Awards; ‘The Innovation Award – Vendor’ category at the 2020 Telecoms World Awards; the ‘CX Vendor Excellence Award’ category at the 2020 CX Asia Excellence Awards and the ‘Innovation in a Time of Crisis’ at The RemTECH Awards 2020. All the awards were announced at the virtual award ceremonies held recently.
Comviva’s mobiquity® is one of the largest digital financial service platforms globally, transforming the way people save, borrow, transfer and spend money. mobiquity® enables over 70 telecom operators, banks and financial service providers in more than 50 countries to offer digital financial services to 130 million consumers meeting their financial needs. mobiquity® processes over 7 billion transactions valuing US$130 billion annually.
During the COVID-19 crisis digital financial services have emerged as important tools in the fight against pandemic.
From allowing consumers to conduct hygienic contactless payments at merchants and make essential money transfers and utility payments remotely from home during the lockdown, to enable governments to rapidly transfer financial aid to vulnerable people and collect donations for relief efforts, digital financial services have become vital payment systems in the pandemic era.
Thus, Comviva is helping the digital financial service providers to rapidly make changes in their services and launch new features to enable and encourage the use of digital financial services to mitigate the impact of the pandemic.
Commenting on the win, Srinivas Nidugondi, COO and EVP, Digital Financial Solutions at Comviva said, “We are happy to be recognized by the Glotel Awards, Telecoms World Awards, CX Asia Excellence Awards and The RemTECH Awards for mobiquity®’s Response during the COVID-19 crisis.
“We have seen that digital financial services are crucial in mitigating the impact of COVID-19 crisis and economic distress. Hence, in these unprecedented times we are committed to work with digital financial service providers globally and strengthen the collective fight against the pandemic.”
“These awards also validate our ability to innovate and quickly rise to the occasion in challenging conditions. We are pleased that mobiquity® is leading the way in the fight against COVID-19 and helping to improve the lives of millions of impacted people,” he further added.
mobiquity® platform provides intuitive tools to digital financial service providers to rapidly make changes in the service pricing and transaction and wallet balance limits. In many countries, digital financial service providers quickly waived off the service fee on transactions and increased the transaction and wallet balance limits to encourage the use of digital financial services during pandemic.
Consequently, these services have seen significant growth in transaction value and many of them have recorded their highest monthly or quarterly transaction value.
In some countries, easing of consumer on-boarding and KYC rules led to introduction of self-registration and eKYC, allowing people to subscribe to a digital wallet service remotely from home.
In one of the North African country, Comviva worked with a leading digital service provider to introduce the self-registration service in record time. The service became an instant hit and the digital service provider saw a 10 percent jump in just two months.
In countries like Latin America, Africa and Middle-East, mobiquity® platform facilitated direct distribution of government emergency grants or solidarity income digitally to thousands of vulnerable households impacted by the pandemic and lockdown, helping them to sustain in these challenging times.
mobiquity® also facilitated the collection of COVID-19 relief donations through digital wallets in some countries in Africa and Middle-East.
Comviva helped a mobile service provider operating in multiple African countries to launch ‘community champion’ service.
The service encouraged consumers to use their digital wallet to top-up prepaid mobile connection of family and friends and help them to remain connected in these tough times. The consumers received airtime bonus for this community service.
mobiquity® also helped in enabling ‘Agent at Home’ service which allows digital financial service agents to visit consumer’s home and perform last mile deposit and withdrawal transaction at the doorstep.
mobiquity® also helped to continue festive traditions during pandemic albeit in a digital format. Comviva worked with a digital financial service provider in the Middle East to launch the Digital Ediya service. The service allowed users to send Ediya (the traditional money gift given during the festival of Eid) through digital wallet.
Note: mobiquity® is registered trademark in India only