KICB becomes first Bank to introduce mobile banking and payments services in Kyrgyzstan, powered by Mahindra Comviva’s mobiquity® solution

EurasiaCom – Istanbul, Turkey – March 26, 2013 – 2013: Mahindra Comviva, the global leader in providing mobile financial and VAS solutions, today announced that it has signed a mobile banking deal with Kyrgyz Investment Credit Bank (KICB), a leading commercial bank in Kyrgyzstan.

With this KICB becomes the first Bank in the country to take an initiative in the mobile banking and payments space. The Bank is looking to partner with multiple remittance service providers to enable both inward and outward remittance in the region.

As per the deal, Mahindra Comviva’s award winning mobiquity® mobile banking solution will empower KICB customers to conduct a range of financial and non-financial transactions such as domestic and international remittance, cash in-cash out at agent locations, airtime recharge (top-up), balance enquiry, bill and merchant payments amongst others. Thus, allowing the Mobile Banking application to be leveraged as a complete self-service channel for various banking and payments related requirements.

Speaking on the collaboration, Srinivas Nidugondi, Head of Mobile Financial Solutions at Mahindra Comviva said, “We are very pleased to partner with Kyrgyz Investment Credit Bank for our mobiquity® mobile banking solution. Our solution will allow bank to offer an intuitive and superior user experience to its customers so that they can conduct a range of financial and non-financial transactions on the go.”

Kwang-Young Choi, CEO, Kyrgyz Investment Credit Bank commented, “With this mobile banking solution, our aim is to provide a cost-effective banking solution and improving people’s lives by allowing the mobile banking application to be leveraged as a complete self-service channel for various banking and payments related requirements. The solution will further enhance convenience for our existing and future customers by providing them with an additional, convenient touch-point to access banking services. ”

Mahindra Comviva’s award-winning mobiquity® mBanking solution allows banks to extend a full range of banking and payment services across a wide range of devices and channels such as client apps, SMS, USSD, IVR, QR Codes and NFC – enabling banks to successfully cater to the banking needs of various consumer segments. Today, mobiquity® has over 60 deployments across 38 markets serving over 500 million mobile users globally.

About Kyrgyz Investment Credit Bank

Kyrgyz Investment and Credit Bank (KICB), part of the AGA KHAN Development Network is among the leading commercial bank in Kyrgyzstan, founded in 2001. KICB is a well-positioned commercial bank providing a full range of corporate products and services, including, short-term working capital loans, medium and long-term loans, trade finance products and full range of account related services. Its branch network covers most of the major cities of the Republic. The mission of the bank is to be a stimulus for the economy and a benchmark for the entire commercial banking sector of the Republic through implementing high service standards and cutting edge technology solutions. For more information, please visit http://www.kicb.net/

 

About Mahindra Comviva

Mahindra Comviva is the global leader in providing mobile financial and VAS solutions. It’s a subsidiary of Tech Mahindra and a part of the USD 15.9 billion Mahindra Group. With an extensive portfolio of solutions spanning mobile finance, content, infotainment, messaging, mobile data and managed VAS services, Mahindra Comviva enables service providers to enhance customer experience, rationalize costs and accelerate revenue growth. Its solutions are deployed by over 130 mobile service providers and financial institutions in over 90 countries and enrich the lives of over a billion people, globally. For more information, please visit http://www.mahindracomviva.com/olddata

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Media Contacts

Sundeep Mehta
Global PR & Corporate Communications
Mahindra Comviva
T: + 91 124 481 9000
pr@mahindracomviva.com