Stock Report

Mauritius Telecom Partners with Intellect Global Consumer Banking for Digital Transformation and enabling Financial Inclusion

Posted On : 2022-06-27 17:23:08( TIMEZONE : IST )

Intellect Global Consumer Banking (iGCB), ranked #1 in the world for Retail Banking and Lending by IBS Intelligence, announced that Mauritius Telecom, one of the leading telecommunications companies in Mauritius, has chosen iGCB to offer digital financial services, deliver personalised and contextually relevant customer experiences and drive financial inclusion.

A leading provider of ICT services and solutions in Mauritius with a customer base of more than 1.3 million subscribers, Mauritius Telecom has been at the forefront of innovation and continues to be one of the key drivers of socio-economic transformation of the country. In 2019, the company launched a mobile wallet, called My.t Money that facilitated cashless payments and management of money through a mobile app and a payment card.

Mauritius Telecom chose iGCB to create the next-gen mobile wallet - an offering that is intuitive, intelligent and designed to meet the ever-evolving needs of the new age customers, merchants and partners.

Partnering with DNSCONSULT, a leading ICT consulting and IT systems integrator company in Mauritius, iGCB will empower Mauritius Telecom's My.t Money to:

1. Drive socio-economic stability by enabling higher access to affordable financial services with instant micro credit & micro savings

2. Provide an end-to-end digital financial service suite to their customers and enable them to track & manage their accounts and deposits on the go.

3. Drive superlative customer experience by on-boarding customers within 60 seconds and providing selfonboarding and assisted on boarding options

4. Launch powerful customer loyalty programs with real-time point accumulation & redemption along with sharing AI-enabled redemption recommendations

5. Drive strong customer engagement across multiple channels (including social platforms) with gamification options and personalised offers based on segments, preferences, spends & location

6. Ensure higher security for personal customer data and financial transactions with strong PSD2 and device authentication along with providing secure web access

7. Build a strong ecosystem with a comprehensive app suite for merchants, partners and agents containing sophisticated commission management and campaign management solutions

Commenting on the partnership, Sherry Singh, CEO, Mauritius Telecom said, "Our Vision at My.t Money is not only to make payment fast, secure and simple but also fun. We are also looking to drive strong continuous engagement by delivering value to consumers through access to things they want-coupons, loyalty rewards, gift cards, tickets, loans and more. iGCB's experience in enabling leading organizations across the world to provide a superlative and seamless customer experience convinced us that they are the right partner for the next stage of our digital transformation and financial inclusion journey. We are confident that iGCB will enable Mauritius Telecom to not just deliver innovative financial solutions but also provide our customers an enhanced experience."

Commenting about the prestigious deal win, Rajesh Saxena, Chief Executive Officer, Intellect Global Consumer Banking said "We are privileged to be the preferred partner of Mauritius Telecom. We are committed to our shared focus on innovation and believe that this next-gen mobile wallet will not only provide a superlative experience for their customers but also drive financial access and enablement. We recognise the nation's aspiration to accelerate digital initiatives and the speed at which this transformation is being adopted by partners. We are committed to strengthen our operations led by our Regional Head, Vishal Singh, who comes with more than 25 years of experience in the banking and fintech space and has been at the forefront of our depth in Africa market."

Shares of Intellect Design Arena Limited was last trading in BSE at Rs. 664.85 as compared to the previous close of Rs. 640.95. The total number of shares traded during the day was 18586 in over 1143 trades.

The stock hit an intraday high of Rs. 671.40 and intraday low of 648.25. The net turnover during the day was Rs. 12317290.00.