October 04, 2012

Mobile money software provider Monitise announced a partnership today with Cognizant, an IT and business consulting group, to combine their software solutions and expertise in the mobile area. The partnership is meant to help banks develop new solutions in mobile banking, payments and commerce through Monitise's mobile money platform.

Monitise said in a statement that their interoperable platform will allow banks to lower costs associated with their mobile products and help drive new revenue streams by increasing mobile adoption.

"Our strategy involves extending our Monitise Enterprise Platform to the world's leading banks and payment companies," said Monitise's chief executive Alastair Lukies. "We look forward to collaborating with Cognizant to support financial institutions across the world in developing strategic, effective and timely mobile services."

Combining Monitise's platform with Cognizant's expertise in mobile technology solutions will help banks reduce time-to-market and enhance customer experience in the mobile channel, Cognizant's Senior Vice President and Global Head of their Financial Services practice, Prasad Chintamaneni said.

[See Related: Major Acquisition in Mobile Money Market Completed ]

Jonathan Camhi is a graduate of the City University of New York's Graduate School of Journalism, where he focused on international reporting and interned at the Hindustan Times in Delhi, ...