Tech giant IBM and mobile money specialists Monitise have expanded their business partnership to deliver mobile solutions for the financial sector.

Building on a link-up that started last September, the two companies confirmed today that they had entered a “multi-year, global alliance” for cloud-based products, aimed at helping FIs embrace the mobile channel and better engage with their customers.

As part of the move, Monetise will work with the IBM MobileFirst division, which will be spearheaded globally as an IBM Global Business Services’ initiative.

In addition, IBM and Monitise plan to collaborate on IBM Ready Apps – a suite of industry specific and customisable pre-configured apps. Monitise will also move its production hosting and cloud requirements to IBM.

“As the market for mobile payments is expanding, we are continuing to invest in the IBM MobileFirst portfolio to address this opportunity,” explained Steve Mills, senior vice president and group executive at 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, added: “Mobile is increasingly becoming the primary way for us 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.

“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.”

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