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Utiba, Leading Provider of Mobile Financial Services Solutions, Expands Presence in the AmericasLeveraging Success of Its Miami Based Affiliate, Utiba Establishes Software Development Center in the US (June 01, 2012)
MIAMI, FL -- (Marketwire) -- 06/01/12 -- After three years of successfully marketing Utiba Mobility mobile financial services solutions in the Americas, Utiba has decided to expand its presence in the market and bring development resources closer to its fast growing customer base in Latin America.
Launched in early 2010, Utiba Americas is Utiba's affiliate for the Americas region and the result of a joint venture with Miami based, publicly traded Alternet Systems (OTCQB: ALYI). Utiba Americas offers the leading Utiba end to end mobile financial service solution as a hosted service and as a traditional software license. Since its launch, the company has implemented mobile financial service solutions in Bolivia, Colombia, Ecuador and Guatemala, with further implementations under way in Venezuela, Honduras and Mexico. Utiba Americas and Utiba expect to be present in 14 countries in the Americas including the United States and Canada by the end of 2013, serving a potential market of over 600 million mobile and internet users and a population of over 900 million people.
Given the number of regional mobile payment projects the company is deploying, and the overall growth of the industry in the region, Utiba decided it made sense to locate more resources close to this growing customer base. After a careful analysis of cost and quality of the available technical talent, including software developers, Utiba executives decided to locate a development center in the region, complementing its other global development centers in India, Vietnam and Australia. The South Florida staff is in addition to the sales, marketing, implementation and technical support personnel already in place in Miami.
Continued core technology development and third party integration are also required to fulfill the objectives of the company's recently announced Converging Payments initiative -- which calls for the development and deployment of more sophisticated mobile financial services in partnership with companies like MasterCard and Validsoft.
Utiba Co-CEO Richard Matotek commented enthusiastically on the development, saying, "In three short years the Americas have become Utiba's fastest growing region worldwide, complementing the company's large installed base in Asia-Pacific and India, and growing presence in Africa. The local development center will ensure that our customers' needs are met in a timely manner and also advance Utiba's Converging Payments solutions, which will bring sophisticated financial services and global acceptance to the unbanked populations of the Americas. It is very exciting and fulfilling time in the company's history."
Utiba has spent more than a decade developing the leading mobile financial services solutions in the market, in pursuit of its vision of enabling everyone to make mobile payments. In use in more than 30 countries, the Utiba Mobility platform supports 500 million subscribers and processes over 12 billion transactions per year, enabling people to send money, pay bills, receive salaries and more, all from their mobile phone. Privately held Utiba is headquartered in Singapore, with seven regional sales, service and development offices worldwide. For more information, visit www.utiba.com or follow us on Twitter https://twitter.com/#!/Utibamobility.
For more information on Utiba contact:
+1 305 747 1339
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