Monitise, Metavante Launch Mobile Financial Services

Initial launch partners include Harvard Employees Credit Union, North Jersey Community Bank, Sutton Bank and Sutton Bank’s Greenlink Payment division. In common with Monitise Americas model of delivering mobile financial services to financial institutions using their existing payments processor relationships, its initial launch partners will use their connections to the NYCE Payments Network in order to deliver the new service to their customers.

Monitise Americas delivers mobile financial services directly to consumers' mobile devices through a highly secure and easily scalable service. It also delivers a crucial point of difference between those that simply “re-render” internet banking propositions or limit eligibility to Internet bankers, by providing a service that is accessible to all customers.

“It’s unquestionable that there is consumer demand for tools that improve their ability to manage their money and we believe that the mobile banking and payments market is at the very beginning of the growth curve,” said Lisa Stanton, Executive Vice President of Monitise Americas. “As the financial services industry becomes more focused on the mobile channel, it will appreciate our ability to provide a proven, trusted and secure gateway that is easy to deploy, low cost and has a clear line of sight to future banking and payment innovations.”

The Monitise Group has successfully deployed its technology in the U.K. with the MONILINK mobile banking and payments network. With an agreement in place with seven of Britain’s largest banks and dedicated secure connections into all of the country’s cellular operators, MONILINK is currently available to over one in three of all adult U.K. banking customers.

“Monitise Americas delivers the mass market, scalable and secure level of service that we expect across all of our channels,” added Frank D’Angelo, Group President of Metavante Payment Solutions, co-owner of Monitise Americas. “It’s essential that any service we offer is suitable for all customer segments, from the smallest community bank to the largest international financial institution. The scalability of Monitise Americas is demonstrated by our launch partners that include Sutton Bank and its loyal regional base of retail and prepaid card customers.”