12th Feb 2008 09:00
Monitise PLC12 February 2008 Tuesday 12th February 2008 MONITISE LAUNCHES MONIHOME - THE REMOTE CONTROL TO INTERNATIONAL REMITTANCES Monitise adds international remittances capability to its mobile banking & payments ecosystems Monitise plc (LSE: MONI.L) today announced the launch of MoniHomeTM, a servicewhich allows international remittances to be controlled directly from the mobilehandset. MoniHome will be integrated into Monitise's live multi-bank, multimobile operator mobile banking & payments ecosystems (MONILINK in the UK andMonitise Americas in North America) providing the facility for consumers toinitiate, manage and track remittances transactions using the secure Monitiseapplication on their mobile phones. The new service offers considerable benefits for consumers globally. As migrantworker levels have increased over recent years there has been a dramaticincrease in the level of cross-border payments. However, to date theinternational remittance industry has been restricted by the limitations of thephysical channel, such as high street locations. By using MoniHome, financialinstitutions and remittance providers can allow consumers to access their mainsource of funds, initiate transfers and receive progress updates of theirtransactions. At the receiving end, they can accept payment via their preferredchannel, such as a direct transfer into their bank account or to collect cashfrom a physical location - significantly improving the efficiency andtransparency of the overall transaction. MoniHome provides a single-point gateway into the existing switching anddistribution capability of established global remittance service providers.Through a single connection to the Monitise platform, financial institutions,international remittance providers and mobile networks can now offer remittancesto multiple destination countries whilst also supporting the differentdistribution methods relevant in each territory. Since Monitise leveragesexisting payment connections, MoniHome also removes the requirement forsignificant technical integration or changes to their current infrastructure. Richard Johnson, Chief Marketing Officer, Monitise Group said: "Theinternational remittances market is worth US$275 billion and is growingconsiderably as migration levels increase. However, we are currently lackingsufficient choice in the regulated methods which allow these workers toconveniently manage the transfer of monies back to their families overseas.Allowing money transfer to be managed using a secure application on their mobilephones will provide unprecedented levels of access and convenience to remittancesenders. "Our partner banks and mobile operators have expressed strong interest in makingthis available to their customers and we expect to announce the first pilot ofthe service in the coming months." MoniHome has been developed using the existing standards deployed by establishedand well-known remittance service providers, providing a framework which fullysupports compliance with regulatory requirements such as Anti-Money Laundering(AML) and Combating of Financing of Terrorism (CFT). This ensures that theservice meets the key challenge of complying with the stringent regulatoryprocedures associated with international money transfers. -ends- Contacts: Monitise Group Tel: 020 7868 5200Duncan McIntyre, ChairmanAlastair Lukies, CEOBen Evetts, Head of Communications Financial Dynamics Tel: 020 7831 3113Harriet KeenHaya Chelhot About Monitise plc Monitise plc (MONI.L) is a specialist in mobile banking & payments technology.It has developed the world's first mobile banking ecosystems, which allowcustomers of multiple banks and mobile operators to perform banking and paymenttransactions directly from their mobile handset. With live services in the UK and the USA, where it has delivered the MONILINKand Monitise networks in partnership with VocaLink and Metavante Corporationrespectively, the Company is currently working with international partners todeliver similar safe, secure mobile banking & payment services in territoriesworldwide. Current key partners include VocaLink Interchange Network, Metavante,Visa Europe, BT Global Services, T-Systems, HSBC, first direct, Alliance &Leicester, Royal Bank 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.monitisegroup.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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