Monitise is entering into an expanded, multi-year global alliance with IBM

Monitise has announced that it’s entering into an expanded, multi-year global alliance with IBM. The alliance is designed to deliver cloud-based solutions aimed at enabling mobile e-commerce for financial services institutions. Monitise’s share price is currently up 1.8%. The alliance will, the companies say, bring together IBM’s “MobileFirst” portfolio, alongside IBM’s financial services and retail industry expertise, with Monitise’s mobile banking and payments capabilities, and will be delivered globally as part of IBM’s “Global Business Services” operation.

IBM and Monitise have expanded a partnership designed to deliver cloud-based mobile solutions for the financial services industry. As the adoption of mobile technology continues to expand, consumers are demanding mobile solutions for core services, and the financial industry needs to keep up. Announced on Monday, IBM and Monitise said the expanded global alliance will help banks and financial institutions fully embrace mobile channels to better engage with customers and improve their services. IBM says that mobile technology has “forever changed the way customers engage with banks and retailers,” and devices such as smartphones and tablets offer “multiple opportunities for banks to capitalise on this growth via mobile money services.” The alliance will bring together the IBM MobileFirst portfolio and Monitise’s mobile banking and payments capabilities, granting financial institutions access to data analytics, spearheaded globally as an IBM Global Business Services’ initiative. Data analytics will let banks offer consumers targeted services including location-based offerings, and financial institutions will also be assisted in creating new digital and mobile money services “while reducing costs and driving new revenue streams.”