Morocco's Finance.com Group has selected technology from 724 Solutions to roll out mobile banking and brokerage services to consumers through its subsidiary, BMCE Bank.
The wireless banking services will additionally use Ericsson's mobile commerce platform.
The deal represents 724's first contract win in North Africa. Chris Erickson, managing director of 724 Solutions-Emea, comments: "This marks an important footprint for 724 Solutions as we enter the growing North African market, extending our applications and solutions to meet the needs of Finance.com and its Moroccan users."
According to Africa Telecom, Morocco has more than four million mobile subscribers and accounts for approximately 20 percent of the total North-African mobile subscriber base. Research shows over the last year, the Moroccan subscriber base grew by 176 percent - the third fastest expanding mobile marketplace in the world.