The acquisition will accelerate the financial technology solutions provider's development of a next-generation digital banking platform for leading financial institutions around the world.

Fiserv's offer to acquire Monitise is valued at approximately ?£70m and the transaction is subject to certain conditions – including Monitise shareholder approval – and is anticipated to close in Q3 2017.

Monitise currently helps some of the world's most-trusted financial institutions design, build, run and deliver digital banking experiences.

The acquisition will allow Fiserv to expand its range of technologies, which enable financial institutions to meet the evolving consumer expectations for financial services.

"Monitise has been a global pioneer and innovator in digital banking for more than a decade," said Jeffery Yabuki, president and CEO of Fiserv.

"Combining its talented associates and advanced technologies with leading digital solutions from Fiserv will expand our clients' ability to provide differentiated experiences to their customers."

Monitise's technology includes FINkit, a cloud native solution built specifically for financial institutions that want to accelerate the delivery of their digital strategies.

FINkit is also expected to accelerate the integration of existing online and mobile banking capabilities into a newly enhanced digital platform resulting in improved speed to market of new features.

"We are proud of the talented people and innovative technology solutions across the Monitise businesses," said Lee Cameron, CEO of Monitise.

"Fiserv is well-positioned to carry this business forward given its strength in digital banking and extensive client network.

“Following the completion of this transaction, we are confident that Monitise clients will be served well by Fiserv and its longstanding commitment to creating value for its clients."