Mobile money network Monitise has revealed
that its smartphone applications are being used at the rate of a
million hits a week as UK and US consumers turn to mobile

Monitise provides mobile banking services to
240 banks in the UK and USA and has processed more than 20 million
mobile app banking enquiries and transactions in the last six

“A sea change is well underway in how people
manage their day-to-day finances as they realise how  simple,
slick and fast mobile banking is – as easy as a few taps on a
keypad,” said Alastair Lukies, chief executive officer of Monitise.
“These figures show how money management by mobile phone is
becoming mainstream. As the services become more sophisticated and
comprehensive we expect uptake will accelerate markedly.”

The Monitise mobile apps currently run on
iPhones, Blackberry, Nokia and Motorola smartphones. Work is
underway to extend the technology to handsets using Google’s
Android software.

Using smartphone apps, consumers can check
their bank balances, read mini-statements, transfer money and set
up and receive SMS alerts on their phone anywhere in the world.

Monitise plans to extend its Mobile Money
Manger platform in the Asia-Pacific region with development
scheduled to commence later this year.