6th May 2014 08:00
First Gulf Bank selects Monitise to power Mobile Money services
Middle East bank partners with Monitise to launch new
best-in-class mobile banking services
May 6, 2014: Monitise (LSE: MONI), a global leader in Mobile Money - banking, paying and buying with a mobile device - today announces a new partnership with First Gulf Bank to launch new mobile banking services to consumers in the Middle East.
Abu Dhabi-based First Gulf Bank is one of the leading banks in the United Arab Emirates. Monitise will support the bank in increasing the variety of Mobile Money services it offers and strengthening its position as a digital banking leader through the provision of new innovations for its customers.
Through the partnership with Monitise, FGB is looking to build its mobile ecosystem with cutting-edge services to make life easier for its customers.
Fatih İşbecer, CEO of Monitise MEA, said: "We are delighted to be building upon our existing, renowned service delivery and presence in the region against the backdrop of the wider Monitise Group that we are now part of. First Gulf Bank was one of the first banks in the Middle East to realise that the future lies in mobile. Through our new agreement, we are looking forward to delivering best-in-class, easy-to-use services to more consumers in the Middle East."
Peter Radcliffe, President, International at Monitise, remarked: "Monitise's Turkey, Middle East and Africa team has a strong track record in supporting leading banks, payments companies, technology businesses and brands in launching world-class mobile services. This new agreement with First Gulf Bank is testament to their expertise and success to date."
First Gulf Bank was named 'Best Bank in the United Arab Emirates' and 'Best Bancassurance' at The Banker's Middle East Industry Awards, as well as the third most powerful company in the UAE by Forbes in 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 utilise Monitise's technology platforms and services to securely connect people with their money. Already 28 million consumers benefit from our patented technology to 'bank anywhere', 'pay anyone' and 'buy anything', accounting for $71bn of payments, purchases and transfers annually. More information is available at www.monitise.com.
About First Gulf Bank
As a major leading bank in the UAE, First Gulf Bank (FGB) had Shareholder Equity of AED 29.8 billion as of September 30th, 2013 making it one of the largest equity based banks in the UAE. Established in 1979 and headquartered in the UAE capital, Abu Dhabi, the bank offers a full range of financial services to business and consumer sectors throughout an extensive network of branches across the UAE. Internationally FGB has branches in Singapore and Qatar, representative offices in India and Hong Kong and a subsidiary in Libya. More information is available at www.fgb.ae.
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