Investment summary

Monitise is accelerating its penetration of the US mobile money market with the acquisition of Clairmail. The deal adds a direct sales route into the North American market to complement Monitise’s existing FIS and Visa channels to market. The combined group’s wider product offering should drive faster adoption in the US and ultimately drive user-generated revenues. HSBC UK has launched a new retail banking app, Fast Balance, developed by Monitise as part of a new three-year deal (HSBC has worked with Monitise since 2007). Monitise Asia announced that its Indonesian JV expects to launch its first service in mid-2012.

Last updated on 23/04/2012

Industry outlook

With close to six billion mobile phone connections globally, handset-based services such as mobile banking continue to show strong growth. For example, mobile banking in the UK is showing fast adoption, with well over five million users. Further growth is likely from the use of mobile phones for retail payments and as mobile wallets for those without bank accounts.

Last updated on 23/04/2012