Myanmar's Wave Money Selects Amdocs to Digitally Transform and Enhance Financial Services Operations

Amdocs Management Limited

Tue, Nov 12, 2024, 2:35 PM 4 min read

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."

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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 $5.00 billion in fiscal 2024. For more information, visit www.amdocs.com

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

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