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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