Frost & Sullivan Award Reaffirms Fundamo's Technology Leadership of South African Smart Card Market

Fundamo has extended mobile banking into Africa and other international markets


"These services assist in allowing easy back-end and support office use, which enhances the experience of the end user," says Ms. McDonald. "Fundamo believes it is important to ensure effective knowledge transfer to clients and educate them on how to optimise the use of these new technology solutions even while allowing clients to apply their own branding and pricing models to them."

In partnership with leading global companies such as Gemalto and S1 and by becoming a part of the MasterCard Vendor Programme, Fundamo has achieved higher levels of recognition as a world leader in its field.

The Frost & Sullivan Award for Technology Leadership is bestowed each year upon the company that has demonstrated excellence in technology leadership within their industry. The company has excelled in all stages of the technology life cycle, ensuring a continuous flow of improvements and has, by innovating leading-edge concepts, pioneered client applications.

Frost & Sullivan Best Practices Awards recognise companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.

About Frost & Sullivan

Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community, by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit www.frost.com.

About Fundamo

Fundamo is a provider of a suite of mobile applications and business solutions for organisations wishing to do banking, payments and other transactions from mobile devices. These organisations include banks, mobile operators with banking aspirations and third party payment processors/switches. Fundamo targets international growth through quality business partnerships and resellers, including Gemplus, the global leader in the provision of smart cards, and global electronic funds transfer company S1. (formerly Mosaic Software).

Fundamo's suite of products enables person-to-person payments, payments for deliveries, airtime purchases, bill payments, retail payments, payments for virtual content, etc. The transactions offer immediacy, convenience, security, simplicity and affordability.

Fundamo has provided solutions and supporting services to customers in a number of countries with sizable customer bases and transactional volumes being processed on a daily basis. The company's customers processed well over 50 million payment transactions in 2005 and are experiencing significant month-on-month growth in their transaction volumes. Fundamo's major shareholders include Venfin and Sanlam.

For more information, please visit www.fundamo.com For further information please contact: Aletha Ling Fundamo Tel: +27-21-943-2200 Cell: +27-82-453-5314 Email: alethal@fundamo.com Kristina Menzefricke Frost & Sullivan Promotions Manager, Best Practices Europe T: +44-(0)-207-343-8376 E: kristina.menzefricke@frost.com

SOURCE Frost & Sullivan