Cognizant-Monitise to support financial companies

by CXOtoday News Desk    Oct 04, 2012

mobile moneyCognizant Technology and Monitise have recently announced a global alliance to help financial institutions embrace the mobile channel of interaction. The alliance is expected to support enhanced mobile adoption in financial firms so that they can lower the total cost of ownership and drive newer revenue streams.

Combining Cognizant’s financial services and mobility expertise with Monitise’s mobile money platform, the alliance will help financial institutions speedily respond to the mobile money opportunity. The two companies said that the alliance will also help enterprises in the financial sector in developing effective and innovative mobile banking, payments, and commerce solutions.

“Our strategy involves extending our Monitise Enterprise Platform to the world’s leading banks and payment companies to help them improve and expand their customer relationships,” said Alastair Lukies, CEO of Monitise Group. The company delivers mobile banking, payments, and commerce networks across the world.

He added that with money becoming increasingly digitised amid exploding demand in the highly-competitive mobile money space, we look forward to collaborating closely with Cognizant to support financial institutions across the world in developing strategic, effective, and timely mobile services.

Commenting on the alliance, Prasad Chintamaneni, Senior Vice President and Global Head of Financial Services practice, Cognizant Technology said, “Mobile money is driving a disruptive shift in channel interaction with consumers, thereby accelerating the replacement of cash and bringing new products to consumers.”

According to Chintamaneni, by combining the expertise of the two companies in their respective domains, they can support the financial companies in reducing time-to-market, enhancing customer experience, and driving business growth.