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IBM and Monitise cloud-based mobile payment solution ready to trigger retail revolution

IBM and Monitise have agreed a wide-ranging partnership to bring cloud-based mobile commerce solutions that help financial institutions across the globe engage with customers and embrace mobile banking.

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The new alliance, known as IBM Global Business Services, leverages each side’s considerable experience in the areas of retail, financials, and secure mobile payment services.

“As the market for mobile payments is expanding, we are continuing to invest in the IBM MobileFirst portfolio to address this opportunity," said 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.”

Under the deal, IBM’s MobileFirst portfolio as well as its financial services and retail industry expertise will be brought together with Monitise’s mobile banking and payments wherewithal to create an attractive solution for financial institutions.

Financial organisations will be able to use data analytics to deliver targeted services to customers such as in-store interaction and location-based offerings. Financial service providers, meanwhile, will gain the ability to roll out new digital and mobile banking solutions whilst at the same time reducing costs and creating new sources of revenue.

“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,” added Alastair Lukies, Chief Executive of Monitise.

Monitise can use the expertise and resources that are part of IBM’s ExperienceOne portfolio and Interactive Experience practice that trigger customer engagement through data analytics to bring personalised brand experiences.

Related: Top 3 questions to ask when choosing a mobile payment system

The mobile money specialists will also move its production hosting and cloud requirement over to IBM, including SoftLayer, and future clients will be able to benefit from Monitise’s deployment of IBM BlueMix.

Jamie Hinks

Jamie is a freelance writer with over eight years experience writing for online audiences about technology and other topics. In his time writing for ITProPortal he wrote daily news stories covering the IT industry and the worldwide technology market, as well as features that covered every part of the IT market, from the latest start ups to multinational companies and everything encompassed by the IT sector. He has also written tech content for our sister publication, TechRadar Pro. Jamie has since moved into sports betting content and is Content Manager at Betbull.