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Monet selects IBM's cloud-based solution
Nov 08, 2012 (Datamonitor via COMTEX) --
IBM has announced that Monet, a mobile commerce provider in Pakistan, has selected IBM cloud-based solution that will enable the company to enhance service efficiency and expand its presence across the country.
Launched in 2012, Monet provides banks, mobile network operators and branchless banking agents in Pakistan with a technology platform that offers end-users a simple interface through which they can access a wide range of financial services on their mobile phones.
IBM will develop a specialized solution based on IBM SmartCloud technology, to deploy Monet's mobile banking applications from Fundamo, a mobile financial services platform provider and an IBM partner. The private cloud will allow Monet to save on initial investments in IT and help the company offer more efficient services at a reduced cost.
IBM SmartCloud infrastructure is based on IBM servers, storage and software optimized to meet growing mobile demand. In addition, Monet has outsourced the entire networking, security, cryptographic solutions, and disaster recovery to IBM, in order to focus on its core business.
"Mobile financial services have reached an inflection point where they have moved from niche to mainstream," said Ali Abbas Sikander, CEO, Monet. "We believe mobile can potentially become the strongest channel for the delivery of financial services. IBM's cloud solution will allow us to reach our clients easily, giving us access to a wider base of customers and ultimately extending the reach of financial services in the country."
"Mobile and Cloud are a powerful combination to provide sustainable and affordable banking services to millions of people in Pakistan," said Adnan Siddiqui, CGM, IBM Pakistan and Afghanistan. "IBM has global experience in the financial services sector and a thorough understanding of the local market, and our engagement with Monet is expected to benefit banking customers across the country."
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