Monitise has announced a strategic alliance with Cognizant that adds a new sales channel for the Monitise Mobile Money Platform. Cognizant has a strong financial services consulting and outsourcing practice, and the partnership with Monitise will enable it to add mobile money solutions to its offering.
Monitise has announced that it has entered into a partnership with Cognizant to form a global mobile money alliance. The alliance partners Cognizant’s financial services consulting and outsourcing expertise with Monitise’s Mobile Money Platform. Cognizant is a Nasdaq-listed provider of IT, consulting and business process outsourcing services. Its financial services business generated revenues of $2.5bn (41% of total revenues) in FY11. While the majority of employees are based in India, 78% of FY11 revenues were generated from North America and 18% from Europe.
Monitise had recently commented that it had been approached by a number of global technology companies interested in partnering with the company and reselling its platform capabilities, and this contract is the first such public announcement.
The recent Clairmail acquisition added a direct sales channel in the US to the group, to complement the existing indirect sales relationships in the US with FIS and Visa Inc and in Europe, with Visa Europe. Today’s announcement widens the indirect selling opportunity.
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