Segmented Consumer Experience and Digital Wallet Capabilities Hold Keys to the Future of Mobile Banking, Finds Cognizant and

Segmented Consumer Experience and Digital Wallet Capabilities Hold Keys to the
         Future of Mobile Banking, Finds Cognizant and Monitise Study

  PR Newswire

  TEANECK, New Jersey, and SAN RAFAEL, California, July 30, 2013

- New Study Uncovers Consumer Expectations for Mobile Banking Services,
Revenue Opportunities for Banks

TEANECK, New Jersey, and SAN RAFAEL, California, July 30, 2013 /PRNewswire/ --
A new study conducted by Cognizant (NASDAQ: CTSH) and Monitise plc (LSE: MONI)
finds that retail banks can realize the full potential of mobile banking by
offering segmented consumer experiences and advanced digital wallet

According to the study, consumers are increasingly expecting banks to help
improve their mobile lifestyles by providing anytime, anywhere capabilities,
customized user experiences, shopping and social features, and value-added
services. This, the study states, represents a new opportunity for retail
banks to drive customer loyalty, attract new business, and generate more

The study surveyed more than 700 consumers from a diverse group of U.S.
financial institutions, age ranges, annual incomes, genders, ethnicities,
education, and employment backgrounds to understand their mobile banking
expectations, emerging trends, and current and future needs. A report titled
"Segment-Based Strategies for Mobile Banking," based on the findings of the
study, details consumer expectations and recommendations for banks to focus on
continuing innovation and tailoring mobile strategies through consumer

Key study findings include:

  *Anytime, anywhere capabilities: Consumers are looking for greater
    functionality as they seek more options. This strongly relates to
    segmentation of consumer interest and behavior. Interest in remote check
    deposit and real-time alerts on unusual account activity are important
    features across segments that could induce consumers to switch banks.
  *Customized user experiences: Tablets have emerged as a unique and valued
    user interface with 41% of survey respondents wanting to use tablets
    compared with smartphones, and 60% of tablet owners preferring a tablet
    for mobile banking. Consumers are now using both devices for different
    purposes and want features optimized to suit each device's form factor.
    Feature personalization like rearranging tabs and functions is also
    important to more than 75% of the consumers surveyed. Offering this
    flexibility can give banks a competitive edge and help retain customers.
  *Better shopping and social experiences: Consumers want their bank to offer
    better shopping and social experiences and also prefer offers from banks
    rather than other mobile payment mediums. By offering discounts and offers
    from retailers on consumers' mobile devices, retail banks can increase
    mobile payment traffic. Consumers are also open to using social networking
    features on mobile banking apps/Web sites for accessing information on new
    products and sharing opinions.
  *Value-added services: Consumers are seeking services that drive security,
    ease mobile payment use and provide insights on spending and bill payment
    patterns, and they're willing to invest in these products. More than
    one-third of consumers surveyed are willing to pay for advanced security
    features such as biometrics and nearly 30% of respondents indicated a
    willingness to pay for mobile payment capabilities.

"Amid the growing proliferation of digital channels and rapidly evolving
consumer behavior, retail banks can no longer afford to adopt a
one-size-fits-all approach in devising and enhancing their mobile strategies,"
said Vin Malhotra, Consulting Partner for Banking and Financial Services with
Cognizant Business Consulting (CBC), Cognizant's consulting practice.
"Providing innovative and personalized mobile services based on consumer
segmentation will enable banks to not only run better by maximizing their
investments, but also run differently by strengthening customer engagement and
driving greater adoption of mobile banking for competitive differentiation."

"Smartphones and tablets are quickly becoming the main contact point between
consumers and financial institutions," said Lisa Stanton, President
ofAmericas at Monitise. "Integrating value-added services such as mobile
payments directly into a bank's mobile application doesn't just build customer
loyalty, but it also grows revenue and fights the growing threat of

The report was developed by CBC and Monitise, and the primary research for the
study was carried out by Cognizant Research Center in conjunction with CBC. To
learn more about how banks can impact consumers' digital wallet decision with
innovative, feature-rich mobile banking applications, read the full study here

About Cognizant Cognizant (NASDAQ: CTSH) is a leading provider of information
technology, consulting, and business process outsourcing services, dedicated
to helping the world's leading companies build stronger businesses.
Headquartered in Teaneck, New Jersey (U.S.), Cognizant combines a passion for
client satisfaction, technology innovation, deep industry and business process
expertise, and a global, collaborative workforce that embodies the future of
work. With over 50 delivery centers worldwide and approximately 162,700
employees as of March 31, 2013, Cognizant is a member of the NASDAQ-100, the
S&P 500, the Forbes Global 2000, and the Fortune 500 and is ranked among the
top performing and fastest growing companies in the world. Visit us online at or follow us on Twitter: Cognizant.

About Monitise Monitise (LSE: MONI) is a world leader in Mobile Money -
banking, paying and buying with a mobile device. Leading banks, payments
companies, retailers and mobile networks utilize Monitise's technology
platforms and services to securely connect people with their money. Already
over 23 million consumers benefit from our patented technology to 'bank
anywhere', 'pay anyone' and 'buy anything' accounting for over $40 billion of
payments, purchases and transfers annually. More information is available at

Forward-Looking Statements This press release includes statements which may
constitute forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995, the
accuracy of which are necessarily subject to risks, uncertainties, and
assumptions as to future events that may not prove to be accurate. Factors
that could cause actual results to differ materially from those expressed or
implied include general economic conditions and the factors discussed in our
most recent Form 10-K and other filings with the Securities and Exchange
Commission. Cognizant undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events, or otherwise.

Contact: Cognizant, U.S.:, Barbara Ruane, Text 100, +1-415-238-7918,, or Europe: Grazia Valentino-Boschi, + 33 (0)6 07 85 80
63,, or Asia-Pac: Harsh Kabra,
+91-855-188-2111,; or Monitise, Investor Relations:
Haya Herbert-Burns,, Tel: +44(0)203 657 0366,
or Media Relations: Gavin Haycock,, Tel: +44(0)203
657 0362, or Media Relations: Peter Sadler,, Tel:
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