U.K.-based mobile banking and payments provider Monitise plc released preliminary financial results for its year ending June 30, 2011. The company said its revenues for the full year are expected to be around £14 million ($22 million), or more than double its £6 million ($10 million) in revenues reported last year.

Monitise reported its mobile banking and payments services continue to grow and that it is now processing more than 10 million banking transactions per month. Additionally, Monitise reported its number of registered customers has grown to almost 4.5 million.

The company said it is still on target to reach break-even in 2013.

"Monitise continues to see very rapid growth across all areas of its business, both in the U.K. and internationally," Monitise CEO Alastair Lukies said in the announcement. "The strength of our broadening partnerships and proven service delivery capabilities is a key validation that our strategy is working worldwide across mobile banking, mobile payments and mobile commerce."

Monitise has been a part of several large deals within the past year. According to the company, a five-year deal with Visa Inc. will be worth a minimum of $50 million. The company also launched the Mobile Money Network (MMN), a joint venture between Monitise, Best Buy Europe and Charles Dunstone, the founder of Carphone Warhouse.

Full-year results for Monetise will be released on September 1.