The firm also reports a $400 million share buyback plan.
Amdocs Ltd. (NYSE: DOX) and Spain’s Bankinter SA (Madrid: BBKT; LSE:BKF) have launched a joint offer mobile banking services solution. Amdocs is installing its mobile banking solution at Bankinter, based on Bankinter's mobility solution. The joint solution gives banks a cost-effective customer communication channel by allowing customers to receive alerts, respond to targeted sales offers, and access and manage their bank account information through a mobile device. Amdocs and Bankinter will jointly provide the solution and associated professional services to banks worldwide.
TowerGroup chief analyst Bob Egan said, "Mobile banking is a market mandate for financial institutions. Internet banking opened the banks 24/7, mobile banking extends that to 'right now, right here banking. Leading solutions will morph into bank infrastructure initiatives and provide the reliability, scale, extensibility and security expected by their customers."
In a separate development, Amdocs announced a $400 million share buy-back plan. The company will buy shares both on the open market and in off-floor transactions.
Published by Globes [online], Israel business news - www.globes.co.il - on August 12, 2007
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