Monitise logoUK-based payments vendor Monitise has launched its Finkit partner programme with founding partner MasterCard to speed up collaboration in banking and payments.

For the “first time”, the founding partners – which also include BehavioSec, Currencycloud, Envestnet | Yodlee, Experian, Fastacash, FICO, HID, iGeolise, LivePerson, Mypinpad, Syniverse and WorldFirst – have agreed to make their capabilities and services available together on the cloud-based Finkit platform.

MasterCard says Finkit lets banks and partners come together in a live production environment.

Nick Cheetham, managing director, Monitise Finkit, says it’s “vital to simplify collaboration between banks and the wider industry” and to get new products and services into customers’ hands, “rather than letting them stagnate in banks’ ‘innovation theatres’”.

The good life

Earlier this year, Monitise started to turn its fortunes around – with a 45% reduction in operating costs and EBITDA profitability of £600,000 in the second half of the year.

As Banking Technology reported in May, the firm brought in a new COO and a new, re-focused business structure.

It seems the initiatives paid off as in its results for the financial year ended 30 June 2016, Monitise reported that Finkit, a cloud-based development platform and toolkit designed specifically for banks and financial services clients, generated initial revenues.