MVNE solution aimed at banks and financial institutions lands Effortel major industry honour

Effortel, the mobile virtual network operator (MVNO) and enabler, has received the Best MVNE Award at the annual MVNO World Congress in recognition of its innovative MVNE suite, specially tailored for banks and financial institutions entering the market.

The solution was selected by an independent judging panel, which acknowledged Effortel’s significant contribution to the industry through its launch of a new, specialised solution aimed at enabling the growth of financial MVNOs in low ARPU and developing markets. The company was awarded the accolade at the premier global event for the MVNO/E industry held by Informa in Nice.

The solution’s success has been proven through its deployment by Equitel in Kenya, a mobile subsidiary of Equity Bank, and financial services brand in Europe. Effortel partnered with Equitel to launch Africa’s first fully integrated mobile network banking product. More than two million Equitel subscribers are currently enjoying the benefits of Effortel’s award-winning solution.

“We’re thrilled to have been recognised for all the hard work, commitment and technical expertise which have gone into the development of this solution,” commented Liudvikas Andriulis, CMO of Effortel. “We drew on our experience and knowledge across both the MVNE and MVNO markets, and are proud to have created a solution which is technically robust, supports and boosts business revenues, offering an all-in-one banking and mobile service for end users globally.”

Effortel’s end-to-end MVNE service suite was developed for non-telecom brands, offering connectivity, marketing, CRM and billing functionality. It has been deployed by retailers including Carrefour to drive its mobile proposition, Effortel’s platform serves five million subscribers, shared across 10 MVNOs.

The platform has been optimised for banks and financial institutions, offering real-time integration with core banking and payments systems. In addition to standard MVNE services, the solution features a range of tools which are easily incorporated into a bank’s current offering. These include consumer credit, interest payments, pre-approval and savings portals, as well as biometric ID reading at points of sale.

With its MVNE solution, Effortel was also able to demonstrate its positive impact on the wider MVNE market; one of the main judging criteria for the Award. Process automation and centralised cloud architecture provide massive CAPEX and OPEX advantages, meaning the solution can be adopted and delivered at low cost. This levels the playing field and opens the market to financial organisations and banks globally, delivering profitable new business opportunities.

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