16th Dec 2011 07:00
16 December 2011
Monitise plc
Monitise and FIS enter strategic partnership to develop mobile services
Five-year agreement includes multi-million dollar per annum revenues
LONDON - Monitise plc (LSE: MONI), has signed a five year strategic partnership agreement with FIS (NYSE: FIS), one of the world's largest global providers dedicated to banking and payments technologies, to create innovative mobile money services for existing and new clients.
The deal is a licensing, development and services agreement that will allow FIS to use Monitise's mobile banking and payments technology and helps deepen and strengthen the existing relationship between the two businesses.
In October, Monitise, which develops and deploys mobile banking, payments and commerce networks worldwide, bought out FIS's 51% stake in the two company's US joint venture, with FIS taking a 3.3% equity stake in Monitise.
Under the terms of the five-year deal, which involves multi-million dollar per annum revenues, FIS and Monitise have created an agile mobile development and deployment team that will help banks and other financial institutions defend and extend their role in the payments industry by creating secure and innovative new products and services.
FIS operates in more than 100 geographic markets and the company's more than 300 solutions represent the industry's most comprehensive array of products and services for the broadest scope of financial markets. Monitise provides mobile services to more than 250 US financial institutions.
"FIS is a clear leader in financial services technology with products and services for financial clients, ranging from small community banks to some of the largest financial institutions in the world. We are delighted to now be entering a new strategic partnership, which will complement FIS's role as a 'go-to' partner for financial institutions in the fast-growing and innovative mobile money marketplace," said Monitise Group Chief Executive Alastair Lukies.
About Monitise
Monitise plc (LSE: MONI.L) is a technology company delivering mobile banking, payments and commerce networks worldwide with the proven technology and expertise to enable financial institutions and other service providers to offer a wide range of services to their customers in developed and emerging markets.
With live services in the UK, the US, India and Africa, the company is working with international partners to extend trusted and secure mobile banking, payment and commerce services in territories worldwide, including Europe, Asia Pacific and Latin America. Monitise has a global alliance agreement with Visa Inc. and strategic partnerships with Visa Europe and RBS Group. Other leading partners and clients include FIS, HSBC, Lloyds Banking Group, First Direct, U.S. Bank, Standard Chartered Bank, Travelex, Vocalink, Vodafone, Orange, O2, T-Mobile, 3 UK, Research In Motion, Best Buy Europe, The Carphone Warehouse, First Eastern, Astra, JETCO and PCCW mobile.
More information is available at www.monitisegroup.com
Contacts:
Monitise Group Tel: +44 (0) 20 7947 4300
Alastair Lukies, CEO
John Brougham, CFO
Lee Cameron, CCO
Mike Keyworth, COO
Tom Spurgeon, Company Secretary
Gavin Haycock, Communications Director
Evolution Securities Limited (NOMAD) Tel: +44 (0) 20 7071 4300
Garry LevinStuart Andrews
Canaccord Genuity Limited Tel: +44 (0) 20 7050 6500
Simon Bridges
FTI Consulting Tel: +44 (0) 20 7831 3113
Charles Palmer
Jon Snowball
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