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GRC International signs three year deal with financial institution

Mon, 07th Nov 2022 10:51

(Alliance News) - GRC International Group PLC on Monday said it has signed a three-year contract with an unnamed South Asian financial institution.

GRC International is a governance, risk management and compliance company focused on cyber defence.

The contract, signed with "one of South Asia's largest financial institutions" and undertaken by GRC International's IT Governance division, will help with the financial institution's SWIFT compliance. No financial details were disclosed.

GRC International's IT Governance team was officially approved to join the SWIFT customer security programme directory in October 2022.

SWIFT is a global member-owned cooperative and the world's leading provider of secure financial messaging services.

The Ely, England-based IT governance and risk management business will "identify and report on gaps" in the institution's SWIFT compliance and existing cybersecurity controls. It will then work with the organisation on "remediation activities", recommending minimum security controls and reassessing its SWIFT compliance framework.

Chief Executive Officer Alan Calder said: "The combination of securing one of South Asia's largest financial institutions as a client and being approved for the SWIFT cyber security providers directory demonstrate our growing international reach in Asia/Pacific and our widening capabilities.

"We believe that there are additional business opportunities to be pursued in the Asia/Pacific region and similarly the Swift CSP approval further enhances our highly regarded capabilities. We also hope to secure further contracts to assist organisations on SWIFT compliance."

GRC International shares were last traded on November 1 at 21.00 pence each.

By Chris Dorrell; chrisdorrell@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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