Gresham Technologies PLC First US Tier 1 Bank Contract Win for CTC (8507S)

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RNS Number : 8507S

Gresham Technologies PLC

28 December 2016

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

 
                             [phone] 
 Gresham Technologies plc     0200 
 Ian Manocha 
 Rob Grubb 
 
                             [phone] 
 N+1 Singer (Broker)          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.

This information is provided by RNS

The company news service from the London Stock Exchange

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December 28, 2016 04:23 ET (09:23 GMT)