15/07/2011
By Scott Thompson
M-banking outfit Monitise says that full-year revenues are expected to be approximately £14 million, compared to the £6 million reported last year. It has also highlighted a year-end annualised revenue run rate in excess of £20 million.
Highlights of the second-half of the year include entering a number of long-term partnerships including a new five-year deal with Visa worth a minimum of $50 million. Registered customers are approaching 4.5 million, more than double the level seen a year ago. Monitise has developed and launched the first banking apps for the iPad from a High Street bank with RBS/NatWest, along with upgrades and enhanced functionality for their iPhone apps.
Chief executive Alastair Lukies says: “We continue to see very rapid growth across all areas of its business, both in the UK and internationally. The strength of our broadening partnerships and proven service delivery capabilities is a key validation that our strategy is working worldwide across mobile banking, mobile payments and mobile commerce.”
“As a trusted partner to financial institutions worldwide, we remain focused on our vision to leverage our global scale, proven credentials and network enabling strengths in the Mobile Money ecosystem. Our growth is being fuelled by exploding demand for globally proven bank-grade services so our clients can help their customers manage their finances via their handsets quickly and securely. The market opportunity is accelerating rapidly and we look forward to the future with confidence,” he adds.
The company’s full-year results are scheduled to be published in September.
