13th Sep 2007 07:01
Monitise PLC13 September 2007 Contact: Sam Baumgarten, Metavante Corporation Ben Evetts, Monitise plc+1 678-533-4861 +44 (0)20 7868 5106 [email protected] [email protected] MONITISE AMERICAS JOINT VENTURE DEBUTS; PROVIDES BOOST TO MOBILE BANKING AND PAYMENTS IN NORTH AMERICA LONDON AND MILWAUKEE, Sept. 13, 2007 - Monitise plc, the global leader in theprovision of mobile banking and payments services, and Metavante Corporation,the banking and payments technology subsidiary of Marshall & Ilsley Corporation(NYSE: MI), has announced the formal launch of the joint venture company,Monitise Americas LLC, the mobile banking and payments ecosystem for the UnitedStates. A memorandum of understanding between both parties was announced inMarch 2007. Expected to launch consumer services later this year, Monitise Americas willallow financial institutions of all sizes to offer mobile banking and paymentsservices to their customers across multiple cellular networks. Planned servicesinclude balance inquiries, mini-statements, funds transfers, cell phone top-upsand payments. Monitise Americas has also designed its platform to support thefuture evolution of mobile financial services and mobile commerce. Monitise Americas is designed to meet the needs of the mass market, and todeliver a service that is universal in terms of security, access and navigationregardless of the consumer's choice of financial institution or mobile carrier.This 'ecosystem' model means that participants - financial institutions, mobilecarriers, payments brands and processors, merchants and consumers - share in thebenefits generated through the platform. Monitise Americas is already workingwith leading financial institutions and mobile carriers to align the service totheir customers' needs. "Monitise Americas' ecosystem model will provide any US financial institution,regardless of its size, the ability to offer mobile banking services to itscustomers. This will provide the American public with the facility to managetheir accounts on the move yet maintain their banking relationship with theirpreferred financial institution," said Alastair Lukies, chief executive,Monitise plc. "Furthermore, as prepaid accounts and contactless paymentstechnology bring point-of-sale payments onto the handset, Monitise Americas willhelp financial institutions deliver new services to their customers." The U.S. market consists of 233 million cellular subscribers1 and the MonitiseAmericas service boasts compatibility with the vast majority of currentlyavailable mobile handsets, delivering one of the broadest new opportunities forelectronic financial services. By connecting through existing ATM networks, theMonitise Americas platform will enable financial institutions to deliver mobilebanking and payments to their customers without extensive technical integrationor high levels of infrastructure expense. "Convenience is crucial when it comes to customer satisfaction. MonitiseAmericas continues the innovation that customers have come to count on from thefinancial services industry by delivering a fifth service delivery channel tocomplement branch, phone, ATM and Internet," said Frank D'Angelo, grouppresident, Metavante Payment Solutions. "Cell phones have become the one thingyou don't leave the house without. Monitise Americas will put the convenience of an ATM into consumers' pockets.Consumers on-the-go can confirm their available balances and even make atransfer to ensure there are adequate funds before using a payment card. Asmobile payments evolve at the point of sale, this could bring even moreconvenience." Monitise Americas has engineered its platform specifically for the NorthAmerican mobile banking and payments market, leveraging some of the bestpractices and award-winning2 technology developed by Monitise for the MONILINKservice in the United Kingdom. About Monitise plc Monitise plc (MONI.L) is a specialist in mobile banking and payments technology.It has developed the world's first mobile banking ecosystem, which allowsconsumers to perform banking and payment transactions using a single consistentinterface regardless of their choice of mobile operator or bank. With live services in the UK, where it has delivered the MONILINK network inpartnership with VocaLink, the company is currently working with internationalpartners to deliver similar safe, secure mobile banking services in territoriesworldwide. Current key partners include VocaLink Interchange Network, Metavante,BT Global Services, T-Systems, HSBC, first direct, Alliance & Leicester, RoyalBank of Scotland, NatWest, Vodafone, Orange, O2, T-Mobile and Hutchison 3G. Monitise was recognised as a "Technology Pioneer" by the World Economic Forum in2006; 'Mobile Innovation of the Year' by The Banker Magazine in 2007 and; awarded the Innovation in Messaging award 2007 by the Mobile MessagingAssociation. www.monitise.com About Metavante Metavante Corporation delivers banking and payments technologies to over 8,600financial services firms and businesses worldwide. Metavante products andservices drive account processing for deposit, loan and trust systems,image-based and conventional check processing, electronic funds transfer,consumer healthcare payments, electronic presentment and payment, and businesstransformation services. Headquartered in Milwaukee, Metavante(www.metavante.com) is wholly owned by Marshall & Ilsley Corporation (NYSE: MI).On April 3, 2007, Marshall & Ilsley Corporation announced its plans to splitMetavante Corporation and Marshall & Ilsley Corporation into independentpublicly traded companies. About Monitise Americas Monitise Americas is a joint venture between Monitise plc (MONI.L), a specialistin mobile banking technology, and Metavante Corporation, a leading provider ofbanking and payments technologies to financial institutions and businessesworldwide. Monitise Americas provides mobile banking and payments services toNorth American financial institutions predicated on an 'ecosystem' principle,which allows multiple mobile operators and financial institutions to deliverservices over a single platform. It has a sister ecosystem in the United Kingdom, MONILINK, developed by Monitiseplc in partnership with VocaLink. Current partners of MONILINK include: HSBC,first direct, Alliance & Leicester, Royal Bank of Scotland, NatWest, Vodafone,Orange, O2, T-Mobile and Hutchison 3G. www.monitiseamericas.com 1 CTIA's Semi-Annual Wireless Industry Survey, 2006. 2 World Economic Forum, Technology Pioneer 2006 and The Banker, MobileTechnology of the Year 2007. Metavante is a registered trademark of Metavante Corporation. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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