Cognizant forms alliance with Monitise for mobile payments and banking solutions

Responding to mobile payment demands

Cognizant is partnering with Monitise to form an alliance designed to help financial institutions embrace the mobile channel of interaction, and develop effective and innovative mobile banking, payments, and commerce solutions (view press release). This is a natural step for Monitise, being a provider of mobile banking and payment solutions, whereas Cognizant has primarily focused on providing information technology, consulting and business outsourcing services.

The companies will combine Cognizant’s financial services and mobility expertise with Monitise’s mobile money platform, consequently helping global financial institutions respond to the mobile money opportunity that is gathering significant momentum. By leveraging an interoperable platform, instead of solutions from disparate products and mobile operating systems it is hoped financial institutions will be able to lower the total cost of ownership, and drive newer revenue streams through enhanced mobile adoption.

Mobile is, without question, the channel of the future,” said Alastair Lukies, CEO of Monitise Group. “Our strategy involves extending our Monitise Enterprise Platform to the world’s leading banks and payment companies to help them improve and expand their customer relationships. As money becomes increasingly digitised amid exploding demand in the highly-competitive mobile money space, we look forward to collaborating closely with Cognizant to support financial institutions across the world in developing strategic, effective, and timely mobile services.”


Related reading

Leave a comment