Montran is proud to announce the successful go-live of its Central Bank Digital Currency (CBDC) solution for one of the top ten public sector banks in India. This achievement marks a significant milestone in the nation’s digital payment landscape.
Operated by NPCI, the CBDC solution is designed to facilitate seamless distribution and management of digital currencies, ensuring compliance with Know Your Customer (KYC) and transaction verification requirements. By leveraging digital currency, the solution aims to reduce operational costs, enhance transparency in financial transactions and introduce new levels of efficiency and innovation in the payment ecosystem.
Montran’s state-of-the-art CBDC solution ensures seamless digital currency distribution and robust transaction verification features, enhancing the efficiency and security of financial systems. A module of Montran’s Transaction Processing Hub (TPH), the CBDC solution empowers commercial banks and service providers to manage key functions such as digital token distribution, account management, KYC adherence and secure transaction verification.
Seamlessly integrating with mobile applications, distributed ledger technology and existing bank channels, Montran’s CBDC solution provides comprehensive digital wallet management and advanced token handling capabilities.
The solution’s core functionalities include:
- Customization of NPCI’s Digital Rupee (CBDC) mobile applications (Android and iOS) for retail customers
- Digital wallet management, including wallet address generation, recovery, and de-registration
- Token lifecycle management, covering issuance, loading, unloading, and transfer of digital tokens
- Seamless interoperability with UPI, enabling a wide range of payments to individuals and merchants alike
- Integration with the bank’s existing infrastructure, ensuring a seamless transition into the digital currency space
- Comprehensive admin portal with real-time dashboards, transaction monitoring, and detailed reports for enhanced operational insights.
This implementation marks a step forward in digital currency innovation and advancement of the country’s financial ecosystem.
