Retail bank Virgin Money has entered into a seven-year strategic partnership with mobile banking firm Monitise to develop the companys digital and mobile banking solutions.

The news comes a week after Monitise signed similar deals with MasterCard, Santander and Telefónica aimed at accelerating global adoption of its mobile banking solutions.

A leader in mobile banking and payment, Monitise is used by banks, payment companies, retailers and mobile networks across the globe to securely connect people with their money.

Monitise has worked with Virgin Money before, developing apps to support charity fundraisers and enabling the public to give on the go using mobile banking technology.

“We are excited to be extending our quest for smarter, brighter and better banking solutions with a partner that shares our ambition to bring unique, intuitive and valuable service features to our customers,” said Jayne-Anne Gadhia, CEO of Virgin Money. “Mobile is an important banking channel that will help us maintain our growth momentum, and our partnership with Monitise and its network of partners will support us as we grow.”

“The Virgin brand is synonymous with success and ambition across all of the sectors it operates in, and banking is no different,” said Alastair Lukies, co-CEO of Monitise. “There are significant opportunities ahead for Virgin Money in the digital space. Were looking forward to supporting the bank across a number of exciting initiatives in it journey to transform the way consumers can manage their money.”