Struggling mobile money firm Monitise received a much-need lift from two contract wins — one described as a top 10 US financial institution, and another with a global company which will deploy Monitise’s digital banking technology for its client.
Monitise, which has been in recent talks about a possible takeover, said the two major, multi-year contracts had “multi-million dollar aggregate value”. Both clients were unnamed.
One, the US institution, is described as an extension and expansion of an existing relationship.
The second is a global partner which will use Monitise’s digital banking technology in multiple countries to serve a major European financial institution. A letter of intent announced on 17 February was in relation to the latter deal.