MONITISE PLC (OTCMKTS:MONIF) has been in steep decline in recent months after the Company missed revenue projections significantly and investors began to question some of the actions of management.
MONIF was the darling of small caps and looked destined for bigger things when the stock exploded over $1 last year. Large caps such as IBM, Telefonica, MasterCard and Santander all invested significantly in the Company.
MONITISE PLC (OTCMKTS:MONIF) bills itself as the largest Mobile Money specialist in the world with a single-minded and realistic vision: to make money totally mobile across the globe. MONIF is working with over 300 of the world’s leading businesses and financial institutions across global territories to make the most of the opportunities this creates.
The Company offers a strong mobile banking platform through its Bank Anywhere, Pay Anyone, Buy Anything, and Engage Anytime services and has developed strong partnerships with Visa and MasterCard that connect it with millions of users around the world.
Already 28 million consumers benefit from Monitise’s patented technology to ‘bank anywhere’, ‘pay anyone’ and ‘buy anything’, accounting for $71bn of payments, purchases and transfers annually.
In early January MONIF announced it has partnered with the MoneyPass Network to offer a range of advanced Mobile Money services and card control capabilities to card issuers in the United States. The MoneyPass Network is operated by Elan Financial Services, a division of U.S. Bank.
Monitise will be delivering a range of capabilities to MoneyPass Mobile users, including core mobile banking services such as balance checks and transfers, as well as more advanced services like mobile check deposit and cardholder-managed security controls. The scalable, cloud-based platform provided by Monitise will enable MoneyPass issuers to offer mobile money services rapidly, easily and securely.
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President of MONIF Mike Dreyer said “Thanks to mobile, the way that consumers are interacting with their financial institutions has transformed from just a few years ago. The level of engagement through mobile is staggering – users of Monitise-based mobile banking services often log in daily. Part of the reason this is so high comes down to trust, and we are looking forward to providing MoneyPass cardholders with greater access to mobile banking services on a platform they can rely on.”
According to a recent article MONIF plans to launch a new platform in April; the new approach Monitise is offering will make it easier for financial institutions, payment companies, mobile operators, retailers and network partners to connect to an increasingly mobile population. Monitise’s Central Platform provides the services and functionality required to manage and grow the new ecosystem. While system integration capabilities continue to be provided by the Monitise Enterprise and Vantage platforms, each including a standard API interface to the Monitise Central Platform, customers can opt to use their own technology to connect directly to Monitise. As part of the Group’s evolving capabilities, content and service providers, including new industry schemes, can also connect directly to the published Open APIs of the central platform.
Supporting this, Monitise is also announcing today the launch of Monitise Signature™, a PCI-compliant bank-grade data analytics engine that combines consumer-empowered profiling with transactional and behavioural intelligence. This user-defined preference engine will enable richer one-to-one targeting to deliver personalised marketing that is adaptive and intuitive.
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Currently trading at a $300 million market valuation MONIF continues to drop heavily since hitting the bb’s. But MONIF is an exciting story developing in small caps; the stock used to be the darling of small caps and already has massive investor interest and liquidity built into it. When this reverses it could be big. We will be updating on MONIF when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with MONIF.
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Disclosure: we hold no position in MONIF either long or short and we have not been compensated for this article.