Placing Drives Mobile Banking Opportunity

 

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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