UK-based fintech vendor Intelligent Environments is claiming early success for its new mobile banking offering, signing up three clients to the service.
IE signalled its intention to take on market leader Monitise in February after raising £0.75 million through a share placing to fund development of a new mobile banking platform.
At the company's annual general meeting, chairman Clive Richards revealed that in addition to First Data, two other existing clients, Generali and LaSer have signed up and are expected to go live in the third quarter of 2010.
"We believe that, with the company's progress in this new market to date and, with a strong pipeline in existence, underpinned by the significant growth expected in mobile banking across Europe, the company is well positioned to capture the potential in the mobile banking market," says Richards.
However, the positive mobile news is tempered by a "subdued" UK retail banking market which has affected the NetFinance business, where sales cycles have been extended, reducing implementation fees, although this is expected to pick up in the second half.
"Overall we have made good progress in the year to date and I expect our financial performance to reflect this by the end of the year," concludes Richards.