Myanmar's Wave Money Selects Amdocs to Digitally Transform and Enhance Financial Services Operations
Wave Money, a leading mobile financial services provider in Myanmar, has selected Amdocs (NASDAQ:DOX) to enhance its core platform with the Amdocs Digital Financial Services platform. The collaboration aims to provide Wave Money with increased agility to respond to market demands while ensuring scalability and optimizing operational costs. The new platform will enable Wave Money to expand its financial services offerings and enhance the mobile wallet experience for both urban and rural users across Myanmar.
Wave Money, un fornitore leader di servizi finanziari mobili in Myanmar, ha scelto Amdocs (NASDAQ:DOX) per migliorare la sua piattaforma principale con la piattaforma di Servizi Finanziari Digitali di Amdocs. La collaborazione mira a fornire a Wave Money una maggiore agilità per rispondere alle richieste del mercato, garantendo al contempo scalabilità e ottimizzazione dei costi operativi. La nuova piattaforma permetterà a Wave Money di ampliare la propria offerta di servizi finanziari e migliorare l'esperienza del portafoglio mobile per gli utenti sia urbani che rurali in tutto il Myanmar.
Wave Money, un proveedor líder de servicios financieros móviles en Myanmar, ha seleccionado a Amdocs (NASDAQ:DOX) para mejorar su plataforma principal con la plataforma de Servicios Financieros Digitales de Amdocs. La colaboración tiene como objetivo proporcionar a Wave Money una mayor agilidad para responder a las demandas del mercado, al tiempo que garantiza escalabilidad y optimiza los costos operativos. La nueva plataforma permitirá a Wave Money ampliar su oferta de servicios financieros y mejorar la experiencia de la billetera móvil tanto para usuarios urbanos como rurales en Myanmar.
웨이브 머니는 미얀마의 선도적인 모바일 금융 서비스 제공업체로, 암독스 (NASDAQ:DOX)를 선택하여 암독스 디지털 금융 서비스 플랫폼으로 핵심 플랫폼을 강화합니다. 이번 협업은 웨이브 머니가 시장의 요구에 보다 민첩하게 대응할 수 있도록 하며, 확장성과 운영 비용 최적화를 보장하는 것을 목표로 하고 있습니다. 새로운 플랫폼은 웨이브 머니가 금융 서비스 제공 범위를 확장하고, 미얀마 전역의 도시 및 농촌 사용자 모두를 위한 모바일 지갑 경험을 향상시키는 데 기여할 것입니다.
Wave Money, un fournisseur de services financiers mobiles leader au Myanmar, a choisi Amdocs (NASDAQ:DOX) pour améliorer sa plateforme principale avec la plateforme de Services Financiers Numériques d'Amdocs. Cette collaboration vise à donner à Wave Money une agilité accrue pour répondre aux demandes du marché tout en garantissant évolutivité et optimisation des coûts opérationnels. La nouvelle plateforme permettra à Wave Money d'élargir son offre de services financiers et d'améliorer l'expérience des portefeuilles mobiles pour les utilisateurs urbains et ruraux à travers tout le Myanmar.
Wave Money, ein führender Anbieter mobiler Finanzdienstleistungen in Myanmar, hat Amdocs (NASDAQ:DOX) ausgewählt, um seine Kernplattform mit der Amdocs Digital Financial Services-Plattform zu verbessern. Die Zusammenarbeit zielt darauf ab, Wave Money eine höhere Agilität zu verleihen, um auf die Marktanforderungen zu reagieren, während gleichzeitig Skalierbarkeit sichergestellt und die Betriebskosten optimiert werden. Die neue Plattform wird es Wave Money ermöglichen, sein Angebot an Finanzdienstleistungen zu erweitern und das Erlebnis der mobilen Geldbörse für städtische sowie ländliche Nutzer in ganz Myanmar zu verbessern.
- Strategic partnership to enhance core platform capabilities
- Platform upgrade enables service expansion and scalability
- Optimization of operational costs
- None.
Insights
The selection of Amdocs by Wave Money for digital transformation represents a strategic expansion in Myanmar's fintech market. The Digital Financial Services platform will enable Wave Money to scale operations and introduce new financial products more efficiently. While this partnership demonstrates Amdocs' growing presence in emerging markets, the impact on DOX's revenue is likely minimal given Myanmar's market size relative to Amdocs' global operations.
The platform's capabilities in supporting rapid service deployment and cost optimization align with current fintech trends. However, Myanmar's political instability and regulatory environment pose implementation risks. The deal's value and timeline aren't disclosed, limiting assessment of immediate financial impact on Amdocs'
New digital platform to empower Wave Money in delivering expanded financial services, achieving scalable growth, and providing end users with a market-leading mobile wallet experience
JERSEY CITY, NJ / ACCESSWIRE / November 12, 2024 / Amdocs (NASDAQ:DOX), a leading provider of software and services to communications and media companies, today announced its selection by Digital Money Myanmar Limited ("Wave Money"), a leading mobile financial services provider in Myanmar, to enhance Wave Money's core platform with the Amdocs Digital Financial Services platform.
Through the end-to-end Amdocs Digital Services Platform, Wave Money will gain the agility needed to respond to rapidly changing market demands while ensuring scalability, maintaining business continuity and optimizing operational costs.
This collaboration with Amdocs will enable Wave Money to enhance its service capabilities, offering a broader array of financial tools designed to meet the needs of both urban and rural users, thereby contributing to financial inclusion across Myanmar.
"Wave Money plays a pivotal role in Myanmar's financial landscape, providing accessible, mobile-based financial services that empower millions to conduct everyday transactions, send money, and pay bills through a secure mobile wallet," said Htin Hlaing, CTO at Wave Money. "This new platform will support Wave Money's goal of delivering a user-friendly, reliable mobile wallet experience as we expand our service offerings to better support Myanmar's evolving digital financial ecosystem."
"Digital financial service providers are always looking for new ways to serve and engage their customers, often prioritizing the introduction of new services with fast time to market," said Anthony Goonetilleke, Group President of Technology and Head of Strategy at Amdocs. "We are pleased to support Wave Money as they modernize to seamlessly introduce innovative new digital services and prepare for future growth."
Supporting Resources
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About Amdocs
Amdocs helps those who build the future to make it amazing. With our market-leading portfolio of software products and services, we unlock our customers' innovative potential, empowering them to provide next-generation communication and media experiences for both the individual end user and enterprise customers. Our 28,000 employees around the globe are here to accelerate service providers' migration to the cloud, enable them to differentiate in the 5G era, and digitalize and automate their operations. Listed on the NASDAQ Global Select Market, Amdocs had revenue of
Amdocs' Forward-Looking Statement
This press release includes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements about Amdocs' growth and business results in future quarters and years. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations will not be material. Such statements involve risks and uncertainties that may cause future results to differ from those anticipated. These risks include, but are not limited to, the effects of general macro-economic conditions, prevailing level of macroeconomic, business and operational uncertainty, including as a result of geopolitical events or other regional events, as well as the current inflationary environment, and the effects of these conditions on the company's customers' businesses and levels of business activity, including the effect of the current economic uncertainty and industry pressure on the spending decisions of the company's customers, Amdocs' ability to grow in the business markets that it serves, Amdocs' ability to successfully integrate acquired businesses, adverse effects of market competition, rapid technological shifts that may render the Company's products and services obsolete, potential loss of a major customer, our ability to develop long-term relationships with our customers, our ability to successfully and effectively implement artificial intelligence and Generative AI in the company's offerings and operations and risks associated with operating businesses in the international market. Amdocs may elect to update these forward-looking statements at some point in the future; however, Amdocs specifically disclaims any obligation to do so. These and other risks are discussed at greater length in Amdocs' filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F for the fiscal year ended September 30, 2023 filed on December 13, 2023 and our Form 6-K furnished for the first quarter of fiscal 2024 on February 20, 2024, for the second quarter of fiscal 2024 on May 20, 2024, and for the third quarter of fiscal 2024 on August 19, 2024.
Media Contacts -
Swati Sharma
Amdocs Public Relations
E-mail: swati.sharma4@amdocs.com
SOURCE: Amdocs Management Limited
View the original press release on accesswire.com
FAQ
What is the purpose of Wave Money's partnership with Amdocs (DOX)?
How will the Amdocs (DOX) platform benefit Wave Money's operations?
What services does Wave Money currently offer in Myanmar?
