BMO, Monitise Extend Mobile-Money Pact

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BMO Financial Group's Bank of Montreal is working with Monitise PLC to develop mobile money services based on Monitise's technology.

The partnership, which the companies announced last week, extends an agreement the bank entered in 2010 with Clairmail, which Monitise bought this year.

"We are extremely pleased with the response we've seen to our mobile banking and payments services so far and, with the support of Monitise and its technology platform, we look forward to delivering more innovative solutions across this space and beyond," said Andrew Irvine, senior vice president at BMO Bank of Montreal, in a press release.

Monitise will work with the bank on its smartphone apps, mobile websites and text-based banking services.

"We are delighted to be supporting BMO Bank of Montreal via our platform capabilities and network connections," said Frank D'Angelo, president of Monitise Americas, in the release.

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