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Monitise Americas signs 23 to m-banking technology

17 November 2008  |  8092 views  |  0 mobile keypad

Monitise Americas says another 23 US financial institutions, including community banks, credit unions and pre-paid providers, have signed up for its mobile banking services.

The firm, a joint venture between the UK's Monitise and US fintech group Metavante, provides mobile banking and payments services on an "ecosystem" principle, which allows multiple carriers and financial institutions to deliver services over a single platform.

The technology, offered as a downloadable application on Java or Brew and as SMS, is available on over 200 different handsets, including BlackBerry models, and three of the top four wireless carriers in the US.

With it, financial institutions can provide their customers with the ability to pay bills, make balance enquiries, transfer funds and receive mini statements and text message alerts using their handsets.

The platform - launched in November 2007 - is based on the same technology used for the Monilink m-banking network in the UK, which was developed by Monitise and national cash machine operator VocaLink.

Lisa Stanton, CEO, Monitise Americas, says: "Mobile banking is in an explosive period of growth right now and we are seeing a dramatic increase in demand by consumers who want on-the-go access to their bank accounts."

This is backed up by research released by fintech vendor Fiserv in September which found that around three quarters of US customers would now consider using mobile banking services if offered, up from 49% in 2006.

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