Mobilocity, Inc. (www.mobilocity.net), a leading builder of mobile Internet businesses, today announced that it has won an engagement with J.P. Morgan & Co., Incorporated (NYSE:JPM)(www.jpmorgan.com). Mobilocity today also formally launched its Mobile Financial Services Practice, designed to pioneer m-business strategies and applications in the areas of banking, brokerage and insurance.
Under terms of the agreement, Mobilocity will assist J.P. Morgan with developing and implementing a mobile Internet strategy for the bank on a global scale. Mobilocity’s m-business strategists will work with J.P. Morgan to formulate a high-level business plan for mobile initiatives within the firm, conduct an assessment of mobile technologies for the bank, and develop and host m- business seminars for senior business and technical professionals at J.P. Morgan.
"Mobilocity complements our financial markets and technology expertise by bringing experience in developing mobile Internet platforms," said Andrew Comas, head of technology research at J.P. Morgan. "Mobilocity’s undiluted focus on the mobile Internet and their reputation for developing and implementing highly differentiated mobile strategies made them the obvious choice."
J.P. Morgan has already taken a leadership position in developing mobile business platforms. On May 11, J.P. Morgan announced the creation of SynDirect(TM) Wireless, the world's only wireless communication platform for bond issuers and investors. SynDirect(TM) Wireless allows primary market issuers to track investors' interest for pending debt issues, and it allows investors to check current pricing and even express interest for bonds remotely - using a Palm(TM) VII Handheld Connected Organizer in the United States, or a WAP cellular telephone in Europe and Asia.
"J.P. Morgan’s clients and staff will benefit from the foresight that J.P. Morgan is showing by aggressively entering this quickly emerging space," commented Omar Javaid, Chief Executive Officer of Mobilocity. "While many banks and brokerages have made initial forays onto the mobile Internet, the real challenge lies in conceiving and rolling out differentiated offerings that will retain existing clients and attract new ones."
In June, J.P. Morgan led Mobilocity’s first round of financing. With today’s agreement, J.P. Morgan increases its commitment to Mobilocity by becoming a client as well as a stakeholder.
Mobilocity’s Mobile Financial Services Practice has been formed to address the unique requirements of the banking, brokerage and insurance industries by developing and applying vertical-specific best practices. On the technology side, Mobilocity’s Mobility Lab has developed deep expertise in issues related to security and scalability of financial services applications. Mobilocity also works with best-in-class partners such as Aether Systems and MobileQ to deliver optimal end-to-end mobile solutions to its financial services clients.
Mobilocity recently published a white paper on the strategies for success in mobile financial services. The paper can be obtained at http://www.mobilocity.net/html/services.html.
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