Subex partners with Tech Mahindra to drive adoption of blockchain-based solutions

Subex, an industry leader in providing services based on digital trust announced on Thursday that it has partnered with Tech Mahindra to roll-out blockchain-based solutions for telecom operators globally.

The solutions being worked upon by the duo will enable fraud mitigation and drive operational efficiencies for communication service providers (CSPs) by reducing compliance complexities and faster time-to-market.

In addition, the partnership will enable real-time reconciliation reports with summarised data to minimise discrepancies, leading to the reduction of multiple validations and quick dispute resolution through tamper-proof verifiable transactions. This will expedite settlement for communication service providers (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.

Speaking on the announcement, Rohit Maheshwari, Head of Strategy & Product at Subex stated that the company has made significant strides towards leveraging the blockchain in solving challenges across multiple use cases and thereby, its partnership with Tech Mahindra will go a long way towards increasing the adoption of blockchain within the telecom industry.

On Thursday, the stock of Subex Limited closed at its 52-week high of Rs 18.65 per share, up by 4.78 per cent or Rs 0.85 per share against a 1.78 per cent gain in the benchmark index.