IBM and Monitise have announced an expanded, global alliance to deliver cloud-based mobile commerce solutions to the financial services industry. The expansion of the alliance will bring together the IBM MobileFirst portfolio of offerings with its financial services and retail industry expertise with Monitise’s mobile banking and payments capabilities, as an IBM global business service initiative.
With increasing smartphone adoption around the world, the devices have changed the way customers engage with banks and retailers. There are now multiple opportunities for banks to capitalise on this growth via mobile money services. The alliance will help financial services companies to embrace the mobile channel and better engage with customers.
Financial institutions will be able to access to data analytics to offer customers targeted services such as in-store engagement and location-based offerings. Providers will be able to deploy new digital and mobile money solutions to drive new revenue streams.
Monitise will draw on the expertise of the IBM ExperienceOne portfolio and Interactive Experience practice, which improve customer engagement by using data analytics to deliver relevant, personalised brand experiences. IBM and Monitise will also collaborate with IBM Ready Apps, a suite of industry-specific, pre-configured apps that can be easily customised and deployed.
Monitise will move its production hosting and cloud requirements to IBM, including SoftLayer. Clients will benefit in the future from Monitise’s adoption of IBM BlueMix, the development environment, while developers will be able to gain access to Monitise capabilities through IBM's developer eco-system.
'As the market for mobile payments is expanding, we are continuing to invest in the IBM MobileFirst portfolio to address this opportunity,' said Steve Mills, senior vice president and group executive of IBM. 'The combination of our capabilities with Monitise will provide value to our clients, enhance the customer experience and drive business growth.'
Alastair Lukies, chief executive of Monitise, said that mobile is increasingly becoming the primary way for consumers to bank, pay and buy. 'Central to our strategy and collaborations is a drive to enable the businesses we work with to adopt solutions that help them engage more effectively with existing customers and unlock new commercial opportunities,' he explained.
'At a time when money is becoming more digitised, this strategic alliance with IBM will support financial institutions across the world in developing effective cloud-based strategies that make a real difference to consumers’ lives.'