The development of the new platform is an integral part of the company’s focus on growing as a product-led technology business.

The platform, previously referred to as the company’s Central Platform, provides the underlying enterprise-class technology through which Monitise products can be made available to existing and new clients to enhance end-consumer propositions.

The platform’s Application Programming Interfaces (APIs) make deployment and integration of Monitise’s latest banking, payment and commerce products faster, easier and more flexible for clients and third-party content providers wanting to enhance their existing banking offerings.

Monitise Chief Operating Officer Mike Dreyer said: "We have invested in our platform to create smarter, faster and better access to our current and future suite of products as well as an ever-growing range of devices. Over the course of the next year, we expect to see our new cloud-based platform play an increasingly important role in driving our user numbers and revenue growth. The platform has been designed to help us deliver digital products built around consumer needs.”

The platform’s core capabilities mean that all new products are delivered with Monitise best-in-class features, including bank-grade security and authentication, multi-tenancy capabilities, customer support dashboards and standardised reporting. Monitise also provides expertise for consumer experience and technology integration from strategy and design to driving adoption, according to the individual needs of each client.