Monitise Share News (MONI)

LONDON (Alliance News) - Monitise PLC Thursday said it is launching its cloud-based platform as it continues to shift to a subscription-based model from its previous focus on receiving revenue up-front.

Monitise, which designs mobile apps that banks make available to their customers, said the roll-out of the cloud-based platform will enable it to provide its digital banking and payment products to its financial services clients with greater ease.

"We have invested in our platform to create smarter, faster and better access to our current and future suite of products as well as an ever-growing range of devices. Over the course of the next year, we expect to see our new cloud-based platform play an increasingly important role in driving our user numbers and revenue growth. The platform has been designed to help us deliver digital products built around consumer needs," Mike Dreyer, chief operating officer, said in a statement.

Monitise had put itself up for sale in January but revealed two months later that it had decided to remain an independent company after none of the "expressions of interest" it received materialised into anything more.

Monitise shares were up 4.9% at 14.42 pence on Thursday.

By Samuel Agini; samagini@alliancenews.com; @samuelagini

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