Hogan Lovells Advise Monitise in Resourcing Alliance with IBM
29 August 2014
29 August, 2014 - Hogan Lovells has advised Monitise plc on a new resourcing alliance as part of its global relationship with IBM.
Combining the best of both companies' mobile banking, payments and commerce technology, the alliance leverages the growing opportunities in global digital commerce and combines IBM sales and specialist resources with the full spectrum of advice, solution design and delivery of Monitise's mobile payment services.
Monitise's technology will now be enabled, hosted and sold as an IBM cloud-delivered solution worldwide in the business-to-business space. This in turn will support Monitise's target of achieving 200 million users of its mobile money products and services by 2018, as announced in March 2014.
Hogan Lovells advised Monitise on the agreement which will see staff from Monitise's UK development and integration teams transferred to IBM; IBM in turn will deliver services back to Monitise.
Mark Taylor, partner at Hogan Lovells commented:
"This announcement demonstrates the importance of mobile banking and payment solutions in financial services, and how companies are seeking cost-effective ways to serve and grow their global client base. This forward-thinking alliance will provide unique and beneficial commercial opportunities for both parties. We are delighted to have had the opportunity to advise Monitise on this occasion."
The agreement will substantially increase Monitise's ability to handle larger custom projects and enhance IBM's ability to deliver existing and future mobile banking, payments and commerce services to businesses globally.
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