Co-operative Bank Selects Monitise to Launch UK Mobile Banking Services
Monitise plc (LSE: MONI.L), the global leader in Mobile Money solutions, has been selected to provide mobile banking to The Co-operative Bank’s account holders as part of a three-year deal.
The service, which has just gone live spans smartphone apps and SMS alerts, is available to all customers of The Co-operative Bank who are registered for internet banking, and all Smile account holders.
The smartphone app lets customers check their balance or access mini statements for multiple accounts, find cashpoints and branches and set up high and low balance alerts and weekly SMS balance updates. Users can call support staff with questions, technical problems or lost or stolen cards. The app is initially available on iPhone, with further versions set to follow.
Customers who do not have smartphones can benefit from the SMS-only mobile banking service that enables them to register for and manage weekly balance alerts and set up messages to let them know when their balance reaches a specific amount.
Monitise Group Chief Executive Alastair Lukies said: “The Co-operative Bank’s mobile banking service provides an easy and quick way for customers to stay on top of their financial affairs when they are on the move. Mobile has emerged as the most engaging and efficient way to reach new and existing customers, so we are delighted to develop and deliver The Co-operative Bank’s new service.”
Monitise plc (LSE: MONI.L) is a technology and services company delivering mobile banking, payments and commerce networks worldwide with the proven technology and expertise to enable financial institutions and other service providers to offer a wide range of services to their customers in developed and emerging markets.
With live services in the UK, the US, India and Africa, the company is working with international partners to extend trusted and secure mobile banking, payment and commerce services in territories worldwide, including Europe, Asia Pacific and Latin America. Monitise has strategic partnerships with Visa Inc., Visa Europe, RBS Group and FIS. Other leading partners and clients include HSBC, Lloyds Banking Group, First Direct, U.S. Bank, Standard Chartered Bank, Travelex, Vocalink, Vodafone, Orange, O2, T-Mobile, 3 UK, Research In Motion, Best Buy Europe, The Carphone Warehouse, First Eastern, Astra International, JETCO and PCCW mobile.
More information is available at www.monitisegroup.com.
About The Co-operative Banking Group
The Co-operative Banking Group, is the banking and insurance arm of The Co-operative Group, which is the UK’s largest mutual business, owned not by private shareholders but by over six million consumers.
The Co-operative Group has 4,800 retail trading outlets, employs more than 100,000 people, and has an annual turnover of more than £13bn.
It is the UK’s fifth biggest food retailer, the leading convenience store operator and a major financial services provider, operating The Co-operative Bank, Britannia and The Co-operative Insurance. Among its other businesses are the number one funeral services provider and one of Britain’s largest farming operations.
The Co-operative Banking Group is one of the largest and most diversified mutual businesses operating in both retail and corporate markets. As part of The Co-operative Group, the business is characterised by its unique ethical and member reward policies and very high levels of customer advocacy.
The Co-operative Banking Group has almost £50 billion in assets, more than 11,000 staff and nine million customers. It has over 300 high street branches, 220 corporate banking centres and major presences in Manchester, Leek, London, Plymouth, Skelmersdale and Stockport.
It is the only mutual organisation that enables its members to earn financial rewards for the products they hold, as well as giving them the opportunity to have a say in how the business is run.
Gavin Haycock, Media Relations
Tel: +44 (0) 20 7947 4156
Haya Herbert-Burns, Investor Relations
Tel: +44 (0) 20 7947 4928
Monitise Group Executive Team
Alastair Lukies, Chief Executive Officer
John Brougham, Chief Financial Officer
Lee Cameron, Chief Commercial Officer
Mike Keyworth, Chief Operating Officer
Frank D’Angelo, President, Americas
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