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TheStreet Open House

Leading Pakistan Mobile Banking Provider Uses IBM Cloud To Expand Delivery Of Secure Financial Services On Mobile Phones

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 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."

The agreement was signed in May 2012.



About Monet Monet is Pakistan's first and only shared access Mobile Financial Services (MFS) platform connecting banks, mobile operators and merchants. Monet envisions a world-class, feature-rich, fully-managed platform enabling the next generation of an electronic payments eco-system. Monet has already formed a strategic partnership with a leading commercial bank and a large telecom operator to enable the launch of a new mobile money brand in Pakistan. The company has attracted a private equity investment from Abu Dhabi Group (ADG). ADG is one of the leading business conglomerates in the Middle East with diversified business interests in Europe and Asia. ADG is led by His Highness Sheikh Nahayan Mabarak Al Nahayan - the Federal Minister for Higher Education and Scientific Research of the United Arab Emirates.

About IBM Cloud Computing IBM has helped thousands of clients adopt cloud models and manages millions of cloud-based transactions every day. With cloud, IBM helps clients rethink their IT and reinvent their business. IBM assists clients in areas as diverse as banking, communications, healthcare and government to build their own clouds or securely tap into IBM cloud-based business and infrastructure services. IBM is unique in bringing together key cloud technologies, deep process knowledge, a broad portfolio of cloud solutions, and a network of global delivery centers.

For more information about cloud offerings from IBM, visit http://www.ibm.com/smartcloud.

Follow us on Twitter at http://www.twitter.com/ibmcloud and on our blog at http://www.thoughtsoncloud.com.   

1 Branchless Banking Newsletter Quarterly April-June 2012.State Bank of Pakistan. Link: http://www.sbp.org.pk/publications/acd/BranchlessBanking-Apr-Jun-2012.pdf

Media Contacts

Nathan StraussIBM Media Relations nathan.strauss@us.ibm.com 1-917-472-3382

Pooja Dawani IBM Media Relations, Pakistan pdawani@pk.ibm.com 021-32915000

Salman Chaudry Manager, Product Development and Corporate Communications Mobile: 0302-405-6353 Skype: salmanchx URL: www.monet-online.com 

SOURCE IBM

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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