Cloud Based Saas Applications Bring Together Mobile & Financial Services Through Mobile Money Scheme

Cloud Based Saas Applications Bring Together Mobile & Financial Services Through Mobile Money Scheme

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As per CNN, there are about 1 billion people across Asia, Africa and Latin America, who do not have a bank account but do have a cell phone! Capitalizing on the opportunity to access this market segment, there has been a magnitude of collaborations between mobile network operators and commercial/microfinance banks. In a typical such collaboration, the bank would handle financial services (insurance, loans etc.) while the telecom provider handles the technology to deliver these financial services through cell phones. As per McKinsey estimations, this would generate US$5 billion in direct revenues and US$2.5 billion in indirect revenues per year to mobile operators.
The latest development from this remarkable growth story of the mobile phone market, is a set of cloud based SaaS applications that enable these mobile money schemes, creating tremendous business value through reduced costs.
Torry Harris Business Solutions (THBS), an IT consultancy and services provider specializing in Cloud Integration, Service Oriented Architecture (SOA), and Agile delivery, recently announced the provision of cost-effective Micro-finance platforms offered to Telco customers through a Cloud based SaaS model. The platforms use open source technology and are offered on the Cloud, thereby drastically reducing the cost of such offerings.
Says Shuba Sridhar, Regional Manager (Technical Services), Torry Harris Business Solutions: "Our focus on the telecommunications vertical has enabled us to be early entrants in offering SaaS enabled Micro-finance platforms and capitalizing on the opportunity to address the needs of upcoming mobile financial service providers".

As with every new revolution, the model has merits and challenges. She added "The model definitely has merit, as it empowers consumers to manage their money in an accessible and cost effective manner".

About Torry Harris Business Solutions

Torry Harris Business Solutions (THBS) was founded in 1998 in New Jersey, USA. The company focuses on high-end, niche technical skills, predominantly in the middleware, data integration, Service-oriented Architecture and Cloud Integration areas. It provides software services to enterprise clients across different industry verticals through a combination of offshore and onsite services.

The company has offshore development centres in Bangalore (India) and Shenzhen (China) and offices in Bristol (UK), Ireland, Munich, Madrid, Singapore, Dubai and Shenzhen. The company has been CMMi Level 3 certified for quality and maturity of processes. It has also been certified to comply with British Security Standards 7799 (now termed as ISO 27001). For more information, visit: www.thbs.com

About the Author:
Srini P| Torry Harris Business Solutions (P) Ltd. | Tel: +91-(0)80-41827200 | Fax: +91-(0)80-41235695 |www.thbs.com| E-mail: srini_p@thbs.com



Article Originally Published On: http://www.articlesnatch.com


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