Soren, who was previously General Manager of Monitise America's sister service, MONILINK, in the UK, will report directly to Chief Executive Lisa Stanton.

He will be responsible for leading the teams focused on product development and delivery of the Monitise service to financial service companies across the United States and Canada.

Soren will also further develop partnerships with core services providers, including Metavante, to ensure that mobile money services are embedded within the standard offering presented to all financial institutions that choose these providers to manage their payments processing and customer interface services.

Lisa Stanton, Chief Executive, Monitise Americas said: "Soren's achievements while leading the delivery of MONILINK service have been remarkable. His management skills are unquestionable and he built a clear sustainable operations model while working closely with VocaLink, the UK's major payments processing and sole ATM switch provider, to embed the service within its core product set. He also ensured the successful integration and launch of the MONILINK service into the two of the UK's largest retail banking groups, Royal Bank of Scotland and Lloyds TSB.

"Due to our rapid growth and expansion over the past 24 months, I am delighted that Soren will be working as an integral part of the Monitise Americas team, bringing us closer to our shared vision of mobile money services as something that every consumer in the United States should expect from their financial institution."

Prior to joining MONILINK in September 2007, Soren was Associate Director at the World Economic Forum, where he led the Technology Pioneer and Global Growth Companies programs, a role in which he worked all over the globe identifying companies and technology which had the potential to deliver societal or economic change on a global scale.

Soren is a scientist by training, founding, developing and eventually listing CyGenics (ASK: CYN) a leading stem cell technology company in Singapore. He holds an MBA from the National University of Singapore and a Masters of Chemical Engineering from the Technical University of Denmark. He will move to Milwaukee with his wife Claudine.