Comviva's Srinivas Nidugondi on harnessing mobile financial solutions for the underserved

Gurgaon-headquartered Comviva, a subsidiary of software services firm Tech Mahindra, claims to have brought more than 100 million unbanked and under-banked consumers into the financial mainstream since the launch of its Mobiquity Money platform ten years ago. 

Mobiquity Money is a mobile money platform and one of the key mobile financial solutions that the company offers to telecom operators to make financial services accessible to consumers in areas that lack basic banking infrastructure. The platform currently processes more than 5.5 billion transactions a year.

In an interview with TechCircle, Srinivas Nidugondi, COO of mobile financial solutions at Comviva, spoke about how telecom operators have become de-facto banks, the challenges of catering to underserved markets, recent technology trends that are changing the game for the company and mobile operators who now can handle the A-Z of banking functions on basic smartphones.