BMO Bank enters into alliance with Monitise to develop Mobile Money services
Dec 31, 2012 (Datamonitor via COMTEX) --
BMO Bank of Montreal and Monitise plc have entered into an alliance to develop new Mobile Money services, using Monitise's technology platform that encompasses mobile banking, payment and commerce services.
The alliance will allow BMO Bank of Montreal to offer customers intuitive and advanced Mobile Money services. The collaboration builds on an agreement formed in 2010 with Clairmail, the US-based mobile banking and payments provider acquired by Monitise in 2012.
Monitise's Enterprise Platform has been developed to deliver bank-grade integrated and scalable Mobile Money solutions that embrace all devices, operators and networks.
As BMO Bank of Montreal's technology provider for the mobile channel, Monitise will work with the bank across its smartphone applications, mobile web offerings and SMS services, using its platform capabilities to provide added convenience for new and existing customers.
"With the size of the Mobile Money opportunity growing by the day, and the enhanced experience and convenience this channel provides to our customers, we plan to continue to build on our success in this area to date," said Andrew Irvine, senior vice president, BMO Bank of Montreal.
"We are extremely pleased with the response we've seen to our mobile banking and payments services so far and, with the support of Monitise and its technology platform, we look forward to delivering more innovative solutions across this space and beyond."
"We are delighted to be supporting BMO Bank of Montreal via our platform capabilities and network connections," said Frank D'Angelo, president of Monitise Americas.
"As cash becomes increasingly digitised, we are committed to providing integrated, strategic Mobile Money solutions to financial institutions, with a line of sight for the development of cutting-edge services in the future. The Monitise Enterprise Platform is central to this approach."
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