Gresham Technologies Share Discussion Threads

[qantas] 13/5/2021 18:20

RETAIL BANKING: USING DATA TO TAKE BACK CONTROL

By Neil Vernon, CTO, Gresham Technologies

[qantas] 11/5/2021 17:15

Gresham adds to North America sales team to meet growing demand.

11.05.21 Gresham

[gottafly] 10/5/2021 14:39

AGM recording available at Investor Meet Company - well worth a watch to get the flavour of the New Board.

[gottafly] 10/5/2021 12:39

A really interesting AGM meeting, whilst there was little in the way of specifics what was very clear was the new focus, determination, posititity and enthusiasm of the New Board. Unusually, in my view, much of the AGM was a comprehensive presentation of the New Board personnel and credentials - it seemed a bit like 'new team and fresh start'.

The continued 'mood music' from GHT is very positive. As always DYOR (and have a listen to the recording) but things are looking very good to me.

[weatherman] 10/5/2021 07:36

Good AGM statement.

[gnnmartin] 08/5/2021 13:38

There's an Investormeetcompany option to attend the AGM remotely, though not to vote. I guess this means they intend to give a virtual presentation. Sadly, I can't join the virtual meeting, but there will be a recording available later which I look forward to watching assuming I am right about the presentation.

[richjp] 29/4/2021 18:27

Having been on the receiving end of a few poor quality audits, not to mention some of the auditing scandals in recent years, I could go on a bit of a rant about it being a $220bn industry.

You make a good point about 20% less person hours. I would not be surprised it they charge the same though.

[planit2] 29/4/2021 15:47

Unless using this technology, KPMG can get a reputation for a better quality audit.

Auditing is a $220bn industry, imagine you could do a better job with 20% less person-hours.

[richjp] 29/4/2021 15:33

They often give an update, although not always, on the day of the AGM which is 10th May this year.

The KMG order is good news however it may not be high volume usage. Auditing is carried out after the event and is not time critical in the way day to day transaction matching is. Also if you were auditing a bank for example, I would assume you would probably just take samples of historical transactions as it would be impossible to check every transaction.

[planit2] 29/4/2021 14:18

Is the next trading update we are expecting end of first half in July?

[planit2] 29/4/2021 14:15

That is a great win, AI in audit could/will be absolutely huge.

I assume there is no big contracted revenue flow and therefore it's not RNSworthy but KPMG are in contact with a lot of companies. I can't believe it would be worthwhile working with loads of companies at the same time on this so Gresham must have something special.

Clareti seems to have a lot of use cases.

[qantas] 28/4/2021 16:47

Gresham Tech
@greshamtech
·
We are delighted to share that
@KPMG_US
will be deploying
@greshamtech
's solution to digitize its key #audit activities.

[gottafly] 22/4/2021 10:01

Qantas thanks once again for pointing out further good news re Brinks.

jadeticl3 - I believe GHT used to have a 'followers login' but that ended some time ago, suggest that you set up a Google alert (pretty easy) and then, assuming the Gresham news is reported 'publicly' elsewhere (which I think it always is) then you will get (instant if you wish) email notification of news/publicity.

So the Brinks deal again looks really good news, if I have read it correctly they have only just become a user and have quickly expanded usage to include Clarity Connect as per this quote from the news item - "Our recent success and go-live with Gresham’s Clareti Control solution and the prompt yet comprehensive proof-of-concept meant the decision to expand our use of Clareti was easy". So it may not be an RNS newsworthy financial deal but the message is clear that once Clarity is in use it can rapidly be used to advantage elsewhere, great news for increased usage from the customer base.

The Google alert - yes just signed up for it - identifies another very interesting (perhaps even more so than Brinks) article published yesterday in the Fintech Times. An interview with Neil Vernon (GHT CTO) regarding the future of retail banking.

The message appears to be that retail banks must change/adapt rapidly to meet changing customer requirements and the threat of aggressive new entrant service providers. He states that innovation is being held back by legacy tech and data - "The big challenge is innovative new products can require different kinds of control frameworks, with an agile, flexible approach. But behind the scenes, banks’ infrastructure and data make this difficult.". Regulatory activity also adds pressure and of course is a must do.

So the key is stated to be managing, understanding your data and having a data-agnostic solution (i.e. Clarity) - "which can bring together data from multiple sources and siloes across your organisation". This appears to be what Brinks have decided to implement.

As always DYOR but it seems to me there is a change in emphasis from GHT driven by the new board. There is an increasing level of news releases which is an encouraging improvement on communication (historically a GHT weak point) but even more important in my view is that GHT are promoting themselves as the 'glue' for your legacy system data - gaining control of your data is the key - rather than having the time/expense to 'immediately' replace legacy systems, however desirable long-term that might be. So in crude terms GHT are offering a 'quick fix' with it would seem cost savings as an added benefit.

The AGM is only a couple of weeks away and I reckon will provide further positive news and progress.

[jadeticl3] 21/4/2021 22:07

QANTAS, why don’t you tell GHT that this information would be better placed as news for shareholders so that all investors know this, not just your friends on this site?

[qantas] 21/4/2021 18:58

More good news.

[qantas] 01/4/2021 19:21

Kestrel buys.

Gresham Technologies Plc

[gottafly] 01/4/2021 10:18

Notice of AGM is as per below - May 10th - can't wait. And apparently you can attend digitally!

Gresham Technologies plc

Notice of Annual General Meeting and Dividend Timetable

Gresham Technologies plc (LSE: "GHT" or the "Company") announces its intention to hold the Company's Annual General Meeting 2021 (the "AGM") at its registered office at Aldermary House, 10-15 Queen Street, London EC4N 1TX, at 11.00 am on Monday 10 May 2021.

[gottafly] 31/3/2021 10:41

Qantas - thanks for pointing this out, good news indeed and although not deemed RNS material, this win makes it three (that we know of) in March.

I have long been critical of the GHT communication policy, at one stage we had every new deal subject to an RNS and then there was a volte face with no radio silence and no new deals being announced.

Whilst I fully recognise that GHT supply enabling software (plumbing if you like) and therefore a new sale is not always newsworthy, especially from a customers perspective, this is very encouraging. Clearly GHT view this is newsworthy and the customer is happy to be associated with GHT/Clarity, so very good news indeed in my view - and an EU institution to boot!

I think this is another example of the new 'mood music' and determination from the new board and very welcome it is. I guess the question is will further new (non RNS worthy) contracts be announced or is this a special case, fingers crossed we will see more.

Given these three new wins in March, although some way off, I am very much looking forwards to the half year results!

[qantas] 30/3/2021 19:12

New win


Luxembourg’s leading bank, Spuerkeess, selects Gresham Technologies Clareti Control solution



Please do your own research as always.

[gottafly] 27/3/2021 10:43

Qantas - thanks for pointing this out.

A very interesting and very relative blog post from GHT. It addresses the issue of legacy systems and explains that that it doesn't have to be a huge problem to replace them. I personally know how tough it can be dealing with historical data and legacy systems, the 'easy bit' being the new system the really 'hard bit' being the cut-over from 'old'.

Specifically GHT state:-

"But in the current complex environment, large scale transformation projects are not necessarily appealing. Budgets and resources are under pressure. And with such a big challenge, there’s a risk of failure. Who wants to put their neck on the line with a high risk, complex undertaking?

The process of tackling legacy technology has come on leaps and bounds over the past couple of years. A truly data agnostic platform can take a lot of the initial project pain away, working with what you have rather than requiring months or even years of slow, costly transformation work before you start seeing results.

Modern, cloud-native technology gives you the power and scale to ensure results that grow with your business, not something that you have to repeat in five years."

So it seems that perhaps rolling over the installed legacy system base isn't quite as daunting or time consuming as I had thought. It really does seem that GHT with Clareti have all the pieces in place, very encouraging indeed, time to make it happen.