Redknee Extends Turnkey Converged Billing Solution with Mobile Money Services

Redknee Solutions Inc. ("Redknee" or the "Company") (AIM: RKN), a leading provider of innovative infrastructure software that monetizes and personalizes services and content for mobile operators, today announced it has extended the real-time Turnkey Converged Billing solution with the introduction of Mobile Money Services.

Redknee Mobile Money Services is a licensable option that is now available to mobile operators who want to offer secure, easy-to-use and cost-effective mobile money capabilities across different mobile access networks, operators and international borders.

Redknee's value-added Mobile Money Services allows self-care mobile account top-ups and money transfers for mobile operators to take a leadership approach to mobile money services. A number of significant drivers make this an attractive new service offering for mobile operators in emerging markets such as Africa, Middle East and S.E. Asia. Redknee's unique centralized solution and integration support for multi-vendor networks can provide a strong, sustainable competitive advantage to capture the growing need for mobile money services.

"Our recent research indicates that 85% of the next billion mobile subscriptions will come from emerging markets such as Africa, Middle East and Southeast Asia. However, according to the GSM Association, less than 1 billion out 6.5 billion people worldwide have a bank account," said Leslie Arathoon, Director, Product Strategy with Pyramid Research. "This fact, coupled with increasing liberalization of wireless regulations and the growing sophistication of telecommunications infrastructure in emerging markets have set the stage for widespread demand for and adoption of mobile funds transfer services. As funds transfers and other mobile money activities play an increasingly larger role in the economies of many countries, carriers who can deliver differentiated, low-cost mobile money services will have a competitive advantage."

Lucas Skoczkowski, CEO at Redknee commented:

"We expect that Redknee's Mobile Money Services will benefit both the operators and subscribers in the emerging economies worldwide. Redknee is capable and committed to meeting the requirements of emerging markets with product quality, scalability and innovation, as exemplified through our modular deployments of the Turnkey Converged Billing solution. We expect to build upon the strong demand from our existing customers and capture additional market share from new customers interested in enhancing their business."

Mobile Money Services provides a centralized and scalable solution that addresses current and anticipated mobile fund transfer needs of mobile subscribers. The system provides taxation, currency conversion and settlement to support mobile operator partnerships. Mobile Money Services offers mobile operators a configurable suite of services without the need to uplift existing infrastructure, accelerating the time to market and rapidly driving usage, adoption and new revenues.