BMO Bank of Montreal and Monitise announced they have entered an alliance to develop new Mobile Money services, using Monitises market-leading technology platform that encompasses mobile banking, payment and commerce services.
The alliance will allow BMO Bank of Montreal to offer customers advanced mobile money services. The collaboration builds on an agreement formed in 2010 with Clairmail, the US-based mobile banking and payments provider acquired by Monitise in 2012.
Monitise will work with the bank across its smartphone applications, mobile web offerings and SMS services, using its platform capabilities to provide added convenience for new and existing customers.
With the size of the mobile money opportunity growing by the day, and the enhanced experience and convenience this channel provides to our customers, we plan to continue to build on our success in this area to date, says Andrew Irvine, SVP, BMO Bank of Montreal.
We are extremely pleased with the response weve seen to our mobile banking and payments services so far and, with the support of Monitise and its technology platform, we look forward to delivering more innovative solutions across this space and beyond.