(Sharecast News) - Software firm Pelatro has secured its first customer in the fintech space, with the group's mViva platform being selected by Orea Money and Banque Nationale d'investissement in Africa.
Pelatro said had inked the deal for its mViva platform with its new clients in order to provide its contextual campaign management in a software-as-a-service model as part of an effort to analyse user behaviour, generate predictions using AI/ML based models and increase revenue.
The software-as-a-service contract between Orea Money and Pelatro was said to be valued at around $1.5m for an initial period of three years, with an option to extend.
Pelatro highlighted that the contract was in a new customer area for the group, builds on its "extensive existing product suite", and was "an important strategic step" for the company.
Chief executive Subash Menon said" "We are delighted to be the partner of Orea Money and BNI. We have been focussing on banks and fintech companies as we work to roll-out our non-telco offering. This engagement strengthens our position in the financial sector and will pave the way for more contracts in the future ".
As of 0935 BST, Pelatro shares were up 2.0% at 28.05p.
Reporting by Iain Gilbert at Sharecast.com
