Monitise agrees Virgin Money mobile partnership

5 December 2014

Virgin Money AGREES strategic partnership with Monitise

Virgin Money has today announced a seven-year agreement with Monitise plc (LSE: MONI.L) to help develop elements of the bank's future digital banking services and to provide its customers with innovative mobile solutions.

Monitise's Mobile Money network connects many organisations, including those from banking, payments, mobile and other sectors, to consumers via its Bank Anywhere, Pay Anyone and Buy Anything product suite.

Jayne-Anne Gadhia, Chief Executive Officer of Virgin Money, said: "We are excited to be extending our quest for smarter, brighter and better banking solutions with a partner that shares our ambition to bring unique, intuitive and valuable service features to our customers. Mobile is an important banking channel that will help us maintain our growth momentum, and our partnership with Monitise and its network of partners will support us as we grow."

Alastair Lukies, Co-Chief Executive Officer at Monitise, added: "The Virgin brand is synonymous with success and ambition across all of the sectors it operates in, and banking is no different. There are significant opportunities ahead for Virgin Money in the digital space. We're looking forward to supporting the bank across a number of exciting initiatives in its journey to transform the way consumers can manage their money."

Monitise's partnership agreement with Virgin Money builds on a commercial relationship that was first entered into in December 2013.

About Monitise

Monitise (LSE: MONI) is a world leader in Mobile Money - banking, paying and buying with a mobile device. Leading banks, payments companies, retailers and mobile networks use Monitise's technology platforms and services to securely connect people with their money.

More than 30 million users have registered for Monitise's patented technology to 'bank anywhere', 'pay anyone' and 'buy anything', accounting for $88bn of payments, purchases and transfers annually. Additionally, apps designed by the Group's Monitise Create and MEA divisions have been downloaded 30 million times. More information is available at www.monitise.com.