Intuit and Monitise are exploring the delivery of new mobile solutions that will help businesses and consumers better manage their money on the go. The two companies share a common mission to simplify the financial lives of consumers and small businesses through the mobile channels of financial institutions of all sizes.
The companies are collaborating to forge a strategic alliance focused on delivering Mint to financial institutions through Monitise’s Enterprise technology platform. Mint is a leading personal and small business financial management solution designed to help people manage all of their finances in one place.
The companies also plan to work collaboratively to identify additional joint opportunities, including the possibility of Intuit enhancing its mobile banking suite by leveraging Monitise’s m-commerce and m-payment solutions.
The collaboration between the two companies comes as more than 60% of the world’s banking customers are expected to use mobile banking and payments by 2015, according to Capgemini’s 2012 World Retail Banking Report.
Customers of more than 500 US banks and credit unions actively use Intuit’s existing mobile web, SMS and downloadable app solutions, while Monitise provides Mobile Money services to more than 300 financial institutions and partners, including a third of the top 50 North American financial institutions.