Monitise Regulatory News (MONI)

18 Feb 2009 11:07



18 February 2009

PATENT BACKS MONITISE APPROACH

Monitise plc (MONI.L) today welcomes the patent for its core mobile banking and payments platform, validating its position as a leader in this fast growing market. 

The UK patent protects Monitise's secure electronic system for the provision of banking services on mobile phones. The service enables consumers to manage their money and make payments using their mobile phone, regardless of network operator or handset. It uses a unique combination of security layers that enables both banks and consumers to trust mobile phones to undertake financial transactions. 

The Monitise platform is available to over 50% of UK adults including customers of Alliance and Leicester, first direct, HSBC, Lloyds TSB, NatWest, Royal Bank of Scotland and Ulster Bank. Already hundreds of thousands of consumers have registered for the service and are using it to manage their accounts and make payments, including international remittances.

In North America over 50 banks and financial institutions have signed up for the Monitise service, which even allows people to pay bills. Globally, Monitise has recently announced its intention to launch services in East Africa and India.

Monitise's approach brings together the 'ecosystem' of organisations needed to deliver mass market mobile commerce to consumers in way that ensures trust, security and accessibility. It is being used by banks, card companies and payments organisations, facilitating fast information, account management, payments and transfer services.

Alastair Lukies, chief executive, Monitise said, "The patent shows that we have built something unique and enables us to protect our intellectual property. It crystallises the value Monitise has created in its approach and deters copy cats.

"What is important is not only our platform's flexibility and security, but the fact that it can serve people across the world whether they have a bank account or not. We built the platform on existing banking and payments infrastructures and to meet mobile network standards, precisely to ensure its resilience and global reach.

"Our clients and their customers are now reaping the benefits of our investment over the past six years with a growing number of high quality services and plenty of happy customers."

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About Monitise plc

Monitise plc (MONI.L), the mobile money people, has created the world's first mobile banking networks, which allow customers of multiple banks and mobile operators to perform banking and payment transactions directly from their mobile handset.

With live services in the UK and the USA, where it has delivered the MONILINK and Monitise networks in partnership with VocaLink and Metavante Corporation respectively, the Company is currently working with international partners to deliver similar safe, secure mobile banking & payment services in territories worldwide.

Current key partners include VocaLink, Metavante, HSBC, Lloyds TSB, first direct, Alliance & Leicester, Royal Bank of Scotland, NatWest, Vodafone, Orange, O2, T-Mobile and Hutchison 3G.

www.monitisegroup.com