Blockchain as the middleware will add the necessary layer of security and ensure faster and efficient operational process, says Tech Mahindra
NEW DELHI - Nov 05 (BNC Network) Tech Mahindra and digital trust major Subex have entered into a strategic partnership to drive scale adoption of blockchain-based solutions for telecom operators, globally.
These solutions will enable fraud mitigation and drive operational efficiencies for communication service providers (CSP) by reducing compliance complexities and faster time-to-market.
The partnership will facilitate real-time reconciliation reports with summarized data to minimise discrepancies, leading to reduction of multiple validations and quick dispute resolution through tamper-proof verifiable transactions. It will expedite settlement for communication service poviders (CSPs) and drive enhanced visibility in the end-of-the-month billing cycle. The CSPs will benefit from enhanced operational efficiencies by leveraging blockchain based smart contracts and forge more impactful alliances to drive trust amongst diverse stakeholders.
Rajesh Dhuddu, Blockchain and Cybersecurity Practice Leader, Tech Mahindra, said, "Being a service provider of choice for global telecom operators, Tech Mahindra will help reduce overheads and enhance business profitability. As part of TechMNxt charther, Tech Mahindra aims to offer a cutting-edge solution built on Blockchain and smart contracts that optimizes spends and proactively mitigates disputes. In the collaboration with Subex, adding blockchain as the middleware will add the necessary layer of security and ensure faster and efficient operational process. ”
Tech Mahindra will roll-out solutions for telecom operators backed by its proven capabilities in operations support systems (OSS) and business support systems (BSS) domain. The solutions will be integrated with Subex’s blockchain network and the capabilities of an enterprise-grade DLT (Distributed Ledger Technology) network. Further, Tech Mahindra plans to extend the existing intercarrier settlement implementation in phase-II to include roaming agreements through smart contracts and thereby lead to reduced cost of operations, faster turnaround times and minimize disputes.
Rohit Maheshwari, Head – Strategy & Products, Subex, said, "It is indeed a great pleasure for Subex to be joining hands with Tech Mahindra, towards making Blockchain a business reality within the telecom world. With Subex's strategy of enabling businesses to build trust within the digital ecosystem, we believe that Blockchain-based technologies will play an important piece to that puzzle. Towards this, we have made significant strides towards leveraging Blockchain in solving challenges across multiple use cases. Considering Tech Mahindra's visionary stance towards Blockchain, and their renowned leadership towards driving digital transformation projects built upon the technology, we believe that this partnership will go a long way towards increasing the adoption of Blockchain within the telecom industry."
As part of the TechMNxt charter, Tech Mahindra has a deep focus on leveraging cutting-edge technologies to deliver enhanced experience to the customers and is currently engaged with multiple service providers globally on their network transformation journey.