Mobetize and FICANEX to Co-develop Mobile Financial Services
VANCOUVER, British Columbia, Oct. 24, 2017 (GLOBE NEWSWIRE) -- Mobetize Corp. (OTCQB:MPAY), a provider of mobile financial services (‘MFS”) technology for the multi-billion-dollar business to business (B2B) segment of the Fintech as a Service (“FaaS”) sector and FICANEX Technology Limited Partnership (“FICANEX”), the provider of tunl.™, a technical platform linking fintechs and tier-2 financial institutions throughout Canada, are pleased to announce that they have entered into a Master Services Agreement (“Agreement”) to co-develop and market innovative financial services solutions. The initial solution is focused on providing mobile international money remittance services.
FICANEX will adopt certain services and technologies from the Mobetize FaaS Supermarket (“Hub”) to position itself as a fintech banking services accelerator to over 170 member financial institution across Canada. The Agreement is in sync with a growing trend that partners financial institutions with fintechs to optimize efficiency, accelerate growth, maintain customer loyalty, and offer a competitive advantage.
“FICANEX has a long history of providing services to Canadian financial institutions in a collaborative way. We are thrilled to be working with Mobetize as we start this new chapter of expanding the services provided to our member financial institutions, that will strengthen their position in the marketplace for years to come,” said Andrew Obee, President & CEO of the FICANEX Group of Companies.
“Our partnership with FICANEX enhances our respective advantages as we facilitate better banking experiences for fintech customers. Together, we offer financial institutions a fast and iterative approach to innovation without massive expenditures of capital. Our goal is to help FICANEX financial institution members increase revenues, support their communities and realize a higher standard of security for their customers. We are excited to work with FICANEX in re-imagining the digitization and consumption of financial services and inspiring a new era in digital banking,” stated Ajay Hans, Chief Executive Officer of Mobetize Corp.
About the FICANEX® Group of Companies
FICANEX Services Limited Partnership owns and operates THE EXCHANGE® surcharge-free ATM Network in Canada. Since the formation of FICANEX Services Limited Partnership over 17 years ago, THE EXCHANGE Network has grown from a B.C. regional based network to a network that spans coast to coast to coast. With over 170 financial institutions participating in THE EXCHANGE Network, providing their over 3,500 ATMs nationally, THE EXCHANGE Network saves 5.5 million Canadian cardholders millions of dollars each year in needless surcharges.
FICANEX Technology Limited Partnership was formed in July 2017 to create tunl.™, The technical pathway between the fintech world of services and solutions and tier-2 financial institutions. Utilizing the connectivity that has been developed between THE EXCHANGE Network and member financial institutions, tunl.™ will provide new and innovative solutions to member financial institutions in an efficient, collaborative way.
For more information please visit:
www.Ficanex.ca
www.TheExchangeNetwork.ca
Contact Information:
Andrew Obee, President & CEO
FICANEX Group of Companies
(289)-242-1472
About Mobetize Corp.
Mobetize Corp. (OTCQB:MPAY) is re-imagining Mobile Financial Services and has developed a global B2B Fintech as a Service (FaaS) Supermarket (the “Hub”). Mobetize digitizes bricks and mortar financial services to deliver mobile money services to leading telecommunications companies and financial institutions. Mobetize ensures end-to-end integration for services such prepaid air-time top ups, data gifting, mobile lending, international money transfers, P2P transfers, Visa™/MasterCard™ programs and mobile bill payments. Mobetize seamlessly integrates and white labels its secure mobile money platform services for customers who then offer the services to millions of users. Mobetize experts to help telecom and banking providers discover new revenues, new customer relationships and navigate the emerging fintech ecosystem. For more information, visit http://www.mobetize.com
Forward Looking Statements
This press release includes statements that are not historical in nature and may be characterized as "forward-looking statements," including those related to future financial and operating results, benefits, and synergies of the combined companies, statements concerning Mobetize's outlook, pricing trends, and forces within the industry, the completion dates of capital projects, expected sales growth, cost reduction strategies, and their results, long-term goals of Mobetize and other statements of expectations, beliefs, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts. All predictions as to future results contain a measure of uncertainty and, accordingly, actual results could differ materially. Among the factors which could cause a difference are: changes in the general economy; changes in demand for Mobetize's products or in the supplier costs; the actions of its competitors; the success of our customers; technological change; changes in employee relations; government regulations; litigation, including its inherent uncertainty; difficulties in plant operations and materials; transportation, environmental matters; and other unforeseen circumstances. A number of these factors are discussed in Mobetize's previous filings with the Securities and Exchange Commission. Mobetize disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.
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