Mobile banking software maker Monitise has put itself in the shop window, announcing that it could benefit from being part of another business.
Shares in the UK company dropped 10% on news that the company might report a drop in revenues.
Monitise said it is reviewing its options – including the company being taken over.
“The board believes that the company has an exciting future as an independent business, however it recognises that there may be other businesses which could leverage Monitise’s capabilities for digital commerce enablement to significantly accelerate the growth of the business and take maximum advantage of the growth opportunities in the market today,” said a statement from Monitise.
By submitting your email address, you agree to receive emails regarding relevant topic offers from TechTarget and its partners. You can withdraw your consent at any time. Contact TechTarget at 275 Grove Street, Newton, MA.
“Our strategic review is expected to be all-encompassing and will include consideration of corporate transactions and stock market listing options.”
The company is in the process of changing its business model, moving to a subscription-based model.
Read more about mobile retail banking
The future of banking
One banking IT source said banking in the future is going to be more about IT-driven mobile services.
“The big banks cannot do it all themselves and there is an opportunity for suppliers including startups.”
New banks are emerging as a result of changes to the regulatory requirements around setting up a bank. Mobile services are increasingly important in banking and companies supplying off-the-shelf mobile banking software will enable them to get mobile services up and running quickly.