Placing Drives Mobile Banking Opportunity
17 2월 2010 - 4:00PM
UK Regulatory
TIDMIEN
RNS Number : 2410H
Intelligent Environments Group PLC
17 February 2010
IEN.L
Intelligent Environments Group plc
("IE" or the "Company")
Successful Placing To Drive Mobile Banking Opportunity
Intelligent Environments Group plc (AIM Ticker: IEN), the online software
provider for financial services, is pleased to announce that it has successfully
raised GBP0.75m, gross, by way of a placing of 8,340,868 ordinary shares of 1p
at a price of 9p. The new shares were placed with established institutional
shareholders and the Company's Chairman also subscribed.
The funds raised will be used to develop IE's NetFinance mobile banking platform
in order to address the significant mobile banking opportunity in the UK as well
as internationally.
It is expected that the mobile banking market in Western Europe will grow to EUR4
- 5 billion by 2013* as banks target mobile transaction to foster loyalty and
drive revenue growth.
IE's planned mobile solution will service this demand and provide a
comprehensive mobile banking service to bank customers which will supersede the
current services on offer which are cut-down versions of internet banking
services which focus on basic ATM transactions.
IE's offering will provide a secure, branded platform, enabling consumer banking
customers to see their banking details across all of their accounts from
current, saving to credit card as well as a complete summary of account activity
which will include money in, money out , pending transactions, available
balances as well as overdraft limits.
IE is currently recruiting a development team, with a completed mobile banking
solution scheduled for launch in April. The lead platform will be the Apple
iPhone, followed quickly by support for the Android, Blackberry and Windows
mobile platforms.
Mobile revenues will be generated from installation fees as well as from a
transaction based fee calculated by the number of registered users.
IE's CEO Phill Blundell commented:-
"I am delighted to announce our successful fundraising, as we move towards
developing our mobile banking platform. IE has a significant track record in
developing leading edge, fully integrated and secure banking solutions and this
next evolution in online and mobile banking will enhance our strategy of
increasing recurring revenues."
"*Frost & Sullivan, 'Money in Mobile - European Transactions
Enquiries:
+-----------------------------+--------------+--------------+
| Phillip Blundell, Chief | IE plc | +44 (0)20 |
| Executive | | 8614 9800 |
+-----------------------------+--------------+--------------+
| Charles Cunningham, NOMAD | FinnCap | +44 (0)20 |
| and Broker | | 7600 1658 |
+-----------------------------+--------------+--------------+
| Shane Dolan | Biddicks | +44 (0)20 |
| | | 7448 1000 |
+-----------------------------+--------------+--------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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