Monitise has signed a five year strategic partnership agreement with FIS.
This is a licensing, development and services agreement that will allow FIS to use Monitise’s mobile banking and payments technology. In October, Monitise bought out FIS's 51 per cent stake in the companies’ US joint venture, with the latter taking a 3.3 per cent equity stake in Monitise.
“FIS is a clear leader in financial services technology with products and services for financial clients, ranging from small community banks to some of the largest financial institutions in the world. We are delighted to now be entering a new strategic partnership, which will complement FIS’s role as a ‘go-to’ partner for financial institutions in the fast-growing and innovative mobile money marketplace,” says Monitise group chief executive, Alastair Lukies.
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