BankTech

Monitise Chosen by First Gulf Bank for Mobile Banking Service in the Middle East

On 6th May 2014, Global leader in mobile money – Monitise – announced a new partnership with First Gulf Bank in order to launch new mobile banking services for consumers in the Middle East region. Abu Dhabi based First Gulf Bank is one of the top banks in the UAE.

“We are delighted to be building upon our existing, renowned service delivery and presence in the region against the backdrop of the wider Monitise Group that we are now part of. First Gulf Bank was one of the first banks in the Middle East to realise that the future lies in mobile,” Fatih İşbecer, CEO of Monitise MEA, stated in a press release. “Through our new agreement, we are looking forward to delivering best-in-class, easy-to-use services to more consumers in the Middle East.”

  • Monitise will support First Gulf Bank in increasing the variety of Mobile Money services it offers.
  • It will strengthen First Gulfs’ position as a digital banking leader via provision of new innovations for its customers.
  • First Gulf is looking to build its mobile ecosystem with cutting-edge services to make life easier for its consumers, through the partnership with Monitise.

“Monitise’s Turkey, Middle East and Africa team has a strong track record in supporting leading banks, payments companies, technology businesses and brands in launching world-class mobile services,” President, International at Monitise, Peter Radcliffe, said in the same release. “This new agreement with First Gulf Bank is testament to their expertise and success to date.”

First Gulf was named ‘Best Bank in the United Arab Emirates’ and ‘Best Bancassurance’ at The Banker’s Middle East Industry Awards, as well as the third most powerful company in the UAE by Forbes in 2013.

Monitise was founded in 2003 by Alastair Lukies (CEO). The company was recognised as a ‘Technology Pioneer’ by the World Economic Forum in 2005. Monitise says that have over 600 dedicated people working for Mobile Money Solutions including Adam Levene (SVP), Lee Cameron(COO) and Brian McBride. Monitise has received a total funding of $65.7 Mn through investors First Eastern Investment Group and Visa International Service Association.

Chiraag Patel

Chiraag Patel is a Senior Reporting Analyst and the Editor of Bitcoin and Virtual Currency channels at Lets Talk Payments. He is an engineer with deep interest in MMORPG, Virtual Banking, Game Currency and Virtual Cash. Chiraag enjoys Reading& Blogging with focus on New Innovation, Technology & Startups in the Payments Space.

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