Friday, 11 October 2013

Spanco wins Central Bank of India’s mobile banking contract


Technology company Spanco is set to implement mobile banking and mobile commerce related application for Central Bank Of India.

The Mumbai-based company has emerged the most qualified bidder, following a technical and financial evaluation by the bank, it said in a press statement.

“This win further strengthens our position in the mobile banking and payments space and we wish to further build this into a full services mobile based payments company," said Kaustubh Dhavse Chief Executive Officer of Spanco’s governance unit.

Spanco’s revenue model is transaction based; it will earn a fixed fee for every financial and non-financial transaction that happens through the mobile platform.

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