20 million m-banking enquiries in 6 months

Mobile money network Monitise has revealed that its smartphone applications are being used at the rate of a million hits a week as UK and US consumers turn to mobile banking. Monitise provides mobile banking services to 240 banks in the UK and USA and has processed more than 20 million mobile app banking enquiries and transactions in the last six months A sea change is well underway in how people manage their day-to-day finances as they realise how simple, slick and fast mobile banking is as easy as a few taps on a keypad, said Alastair Lukies, chief executive officer of Monitise

Mobile money network Monitise has revealed that its smartphone applications are being used at the rate of a million hits a week as UK and US consumers turn to mobile banking.

Monitise provides mobile banking services to 240 banks in the UK and USA and has processed more than 20 million mobile app banking enquiries and transactions in the last six months. 

“A sea change is well underway in how people manage their day-to-day finances as they realise how  simple, slick and fast mobile banking is – as easy as a few taps on a keypad,” said Alastair Lukies, chief executive officer of Monitise. “These figures show how money management by mobile phone is becoming mainstream. As the services become more sophisticated and comprehensive we expect uptake will accelerate markedly.”

The Monitise mobile apps currently run on iPhones, Blackberry, Nokia and Motorola smartphones. Work is underway to extend the technology to handsets using Google’s Android software.

Using smartphone apps, consumers can check their bank balances, read mini-statements, transfer money and set up and receive SMS alerts on their phone anywhere in the world.

Monitise plans to extend its Mobile Money Manger platform in the Asia-Pacific region with development scheduled to commence later this year.