Gresham Regulatory News (GHT)

3 July 2017

Gresham Technologies plc

Significant new Clareti win with Canadian banking group

Gresham Technologies plc (LSE: "GHT", "Gresham" 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 a significant contract win in the strategically important North American market.

One of North America's largest financial services groups has selected Clareti Transaction Control (CTC) for an enterprise scale deployment. The initial deployment will be to provide ongoing data integrity assurance for complex regulatory reporting requirements. In addition, the solution will replace existing manually intensive reconciliation and control processes in the customer's securities division. The customer will also deploy Clareti Analytics to provide deeper management insight into its data control operations. 

The minimum contracted value is £1.4m over the initial five year term, with additional licence growth and services revenues expected as the technology is deployed further in the customer's group.

Ian Manocha, CEO, commented:

"This is the third new CTC customer win in North America this year, and follows on from our first US Tier 1 bank win in late 2016.

The pace of change in the US & Canadian financial markets is accelerating and participants are finding themselves constrained by their data processing infrastructure. This leaves them with a myriad of potential control gaps, and an inability to keep up with complex regulatory reporting demands. We continue to invest in the North American market to capitalise on this opportunity."

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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.