LONDON, December 29, 2017 /PRNewswire/ --
Gresham Technologies plc (LSE: GHT), 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 with one of the largest financial services groups in the Nordic region.
The bank will use Clareti Transaction Control (CTC) as part of a modernisation programme in its wholesale banking operations. The Clareti platform will ensure the robust, consistent and reliable implementation of a strategic control framework across the bank and will enable the bank's multi-national processing operations to move towards a shared services model, reducing cost through increased automation.
The customer will deploy CTC to replace local manual processes, existing reconciliation legacy systems and internal user developed applications. Clareti 24 Adapters will be used to integrate complex financial messaging data flows for SWIFT and FpML transactions, and Clareti Analytics has been selected to provide operational and risk management insights to improve performance.
The contract has an initial value of approximately EUR 2 million, around half of which is immediately recognisable, with the remainder to be recognised over the initial five-year term of the contract, contributing to planned revenues in 2017 and beyond. There is potential for consulting services revenue as well as additional licence revenue in future years as the bank's use of the platform grows.
Gresham expects to provide a trading update for the year ending 31 December 2017 on 9 January 2018.
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), Clareti Loan Control (CLC) and Clareti 24 Integration Objects (C24 IO), provide innovative industry specific solutions for real-time data management.
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.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.
SOURCE Gresham Tech