IT provider CGI Group Inc. and mobile banking and payment provider Monitise plc announced they are partnering on a mobile money solution for financial services and payment companies based on Monitise's technology platform. The new venture will combine the IT and consulting services of CGI-subsidiary Logica with Monitise's mobile money capabilities, the companies said.

The actual offering of the new alliance will be mobile banking, payment and commerce solutions that will help financial services companies leverage the mobil channel. The companies said they will deliver functionality like payment and statement services as well as more complex services such as buying insurance policies.

"The industry is at a tipping point — for some time, many banks have been developing their own home-grown bespoke efforts," said Alastair Lukies, Monitise Group's chief executive. "The shift is now underway towards a platform approach to better meet demands for time-to-market pressures, interoperability and future proofing."

For CGI, Lode Snykers, Financial Services Global Industry Lead, said his company's clients recognize that mobile is not just another channel, but is fast becoming a first choice for banking conumsers accessing services. "People take their mobile devices pretty much everywhere making them the single easiest route for banks to provide services," Snykers said. 

"Whilst many financial services companies have already launched initial mobile services, our aim is to help them create solutions which consumers will use time and time again," Snykers said.

The alliance between CGI and Monitise will focus on European retail banks in the U.K., Benelux, Nordics, Germany and France to begin with, the companies said.

Read more about mobile banking.

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