Gresham Technologies PLC First US Tier 1 Bank Contract Win for CTC (8507S)
28 December 2016 - 9:23AM
UK Regulatory
TIDMGHT
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
+44 (0) 207 653
Gresham Technologies plc 0200
Ian Manocha
Rob Grubb
+44 (0) 207 496
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)