Mobile banking platform company, Monitise and banking and payments technologies provider, FIS have entered into a five year strategic partnership agreement: 

“Under the terms of the five-year deal, which involves multi-million dollar per annum revenues, FIS and Monitise have created an agile mobile development and deployment team that will help banks and other financial institutions defend and extend their role in the payments industry by creating secure and innovative new products and services.'”

While the two were previously in a joint venture agreement, Monitise bought out the joint venture a little over a month ago, leaving FIS with a 3.3% equity stake.

To learn more about Monitise and FIS, watch Monitise’s Finovate 2007 demo and FIS FinovateFall 2010 demo.