Last checked at 28 Dec 2016 09:23
28 December 2016
Gresham Technologies plc
First US Tier 1 bank contract win for Clareti Transaction Control
Gresham Technologies plc (LSE: "GHT", "Company" or the "Group"), the leading software and services company that specialises in providing real-time transaction control and enterprise data integrity solutions, is pleased to announce that it has signed its first Clareti contract win with a US Tier 1 bank.
In a five-year contract, a US-based global financial services institution has adopted the Clareti platform to help drive a technology enabled transformation in the processing operations of one of its key businesses. The customer will deploy Clareti Transaction Control (CTC) to replace out-dated manual processes and user developed applications, improve data quality and customer service, and reduce operational processing costs.
The contract has a minimum contracted value of $1.1 million over the term which will contribute to the Group's planned revenues for the current year and future years. Additionally, the Company expects to receive implementation consulting revenues, and there is potential for licence growth in future years as the customer's use of the Clareti platform increases.
Ian Manocha, CEO, commented:
"This is the first major sale for our New York team with a Global Systemically Important Bank (G-SIB) and demonstrates the strong potential for our technology in the strategically important US market.
The North American financial services community are under increasing pressure to improve the integrity of their data and controls and I believe the Group is well positioned to capitalise on this opportunity."
Enquiries
Gresham Technologies plc | +44 (0) 207 653 0200 |
Ian Manocha | |
Rob Grubb | |
N+1 Singer (Broker) | +44 (0) 207 496 3000 |
Nic Hellyer | |
Lauren Kettle |
Note to editors
Gresham's award-winning Clareti software platform has been designed to provide financial institutions with complete certainty in their data processing. Clareti is a highly flexible and fully scalable platform for assuring enterprise data integrity and is designed to address today's most challenging financial control, internal risk management, data governance and regulatory compliance problems. Gresham's portfolio of applications based on the Clareti platform, including Clareti Transaction Control (CTC), Clareti Accounts Receivable Management (Clareti ARM) and Clareti Loan Control (CLC), provide innovative industry and domain specific solutions for real-time data management based on business-driven controls.
Gresham Technologies plc is a leading software and services company that specialises in providing real-time transaction control and enterprise data integrity solutions. Listed on the main market of the London Stock Exchange (GHT.L) and headquartered in the City of London, customers include some of the world's largest financial institutions, all of whom are served locally from offices located in Europe, North America and Asia Pacific.