Monitise reports FY 2015 revenue declined 6% to £89.7m. The loss was £41.8m, was at the lower end of the Company’s guidance range of a £40-50m loss. Elizabeth Buse has stepped down as CEO and from the Board. Deputy CEO and Chief Commercial Officer Lee Cameron has been appointed CEO.
During the period, Monitise welcomed deeper partnerships with Santander, Telefónica and MasterCard with the three companies investing in the business. The Group’s multi-faceted relationship with IBM also developed further through the year.
Monitise’s cloud platform launched in April 2015. It is a private cloud running on IBM’s Bluemix scalable infrastructure. It provides API-based delivery of Monitise SaaS products, as well as through the Company’s new PaaS offering, giving financial institutions a secure environment where they or other fintech developers can develop and operate their own applications.
The Company is transitioning to become a cloud business to meet the evolving needs of the industries and clients it serves. As previously communicated, going forward the company will focus on Europe, the Middle East and North America.
Monitise’s new cloud platform is at the core of its strategy. The platform provides ‘ready-made’ products (Software as a Service/SaaS) as well as a ‘build your own’ (Platform as a Service/PaaS) capability, with bank-grade security and compliance for financial institutions and beyond.
This is complemented by a dedicated on-premise platform that supports businesses that want to leverage Monitise products behind their firewall, together with the digital agency based in London, Istanbul and San Francisco, and the London-based content business.
Existing customised solutions will continue to be supported, but Monitise will not be entering into any new arrangements of this type. The Company’s sales efforts with these clients are focussed on the cloud platform.
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