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Monitise PLC is a public limited company primarily engaged in the provision of mobile banking and payments technology solutions. The company provides the switch infrastructure and software to carry out personal banking transactions and inquiries securely on mobile phones. Monitise was founded in 2004 and was listed on the Alternative Investment Market (AIM) of the London Stock Exchange in June 2007. The company’s corporate headquarters is located in London, United Kingdom. Monitise also has offices in Singapore and the United States.
Monitise PLC is a specialist in mobile banking technology. Monitise has developed the world’s first mobile banking ecosystem, which allows consumers to perform banking and payment transactions using a single consistent interface, regardless of their choice of mobile operator or bank. With live services in the United Kingdom, where it has delivered the MONILINK network in partnership with VocaLink (operators of the UK’s ATM network), the company is working with international partners to deliver similar safe, secure mobile banking services in territories worldwide. Its partners include VocaLink, Metavante, Sun Microsystems, BT Global Services, T-Systems, HSBC, first direct, Alliance & Leicester, Royal Bank of Scotland Group, Vodafone, Orange, O2, T-Mobile and Hutchison 3G.
Monitise is committed to developing its bank-grade technology to address other sectors that can benefit from the delivery of secure, mass market, mobile applications. The company has developed products that address the broader financial services market by offering a fully functional, mobile interface to existing products and services, such as its Card Management service. It has also developed Accode, the world’s first mass-market mobile two-factor authentication service, which offers a highly secure, scalable and cost-effective service for enterprises that need to provide secure user access to their corporate IT networks.
Monitise’s vision is the creation of a common standard worldwide for mobile banking and payments. Monitise was recognized as a “Technology Pioneer” by the World Economic Forum in 2006, “Mobile Innovation of the Year” by The Banker Magazine in 2007, and awarded the “Innovation in Messaging” award 2007 by the Mobile Messaging Association. Monitise is a member of Mobey Forum ( a global, financial industry-driven forum, whose mission is to encourage the use of mobile technology in financial services) and the Near Field Communication (NFC), a non-profit industry association that promotes the use of NFC short-range wireless interaction in consumer electronics, mobile devices and PCs.
The principal activity of the Group is the provision of mobile banking and payments technology solutions.
Description and history
The principal activity of the Group is the provision of mobile banking and payments technology solutions. The Group trades under the names Monitise and Monilink.
Its mobile banking ecosystem allows consumers to perform banking and payment transactions using a single consistent interface, regardless of their choice of mobile operator or bank.
The Company was incorporated on 28 November 2006 as ‘Oscar Ventures Limited’, and changed its name to ‘Monitise Limited’ on 5 June 2007. The Company subsequently changed its name to ‘Monitise plc’ on June 6, 2007 upon re-registering, as a Public Limited Company.
The Monitise Business was formed in 2003, as a business unit within the Morse Group to invest in building a mobile banking platform which could leverage the existing banking infrastructure for the rapidly emerging mobile banking and payments market.
Following a review of its options, the Morse board of directors decided to propose the separation of the Monitise Business from the rest of the Morse Group.
On June 28, 2007, the Monitise trading group underwent significant re-organization in order to effect the demerger of Monitise Group Limited (the previous holding company for the Monitise group of companies) from Morse plc and create the new Group structure.
The Company acquired Monitise Group Limited through an issue of shares on June 28, 2007. As a consequence of this transaction, the Company was inserted as a new holding company over the Monitise Group Limited.
Dealings in the Demerger Shares on AIM commenced on June 28, 2007 and the dealings in the Placing Shares became effective on June 29, 2007.
The Group issued 42 million new Ordinary shares as part of a subscription agreement with existing share holders, Visa International Service Association, a subsidiary of Visa Inc. and First Eastern (Holdings) Limited on 30 July 2010. On the same day, the Group issued 113,971,200 new Ordinary shares as part of a placement with new
and existing shareholders.
Engaged in the provision of mobile banking and payments technology solutions
US SIC Code
16-18, Monument Street
City province or state postal code
EC3R 8AJ, LONDON
Phone: +44 20 7868 5200
Fax: +44 20 7868 5201
Country address: UNITED KINGDOM
Website url: www.monitise.com