Gresham Technologies PLC Significant Clareti Contract with Global Bank (0877G)
November 23 2020 - 1:00AM
UK Regulatory
TIDMGHT
RNS Number : 0877G
Gresham Technologies PLC
23 November 2020
RNS
23 November 2020
Gresham Technologies plc
Global Bank Signs Enterprise Framework Agreement for Clareti
Gresham Technologies plc (LSE: "GHT", "Gresham", "Company" or
the "Group"), the leading software and services company that
specialises in providing solutions for data integrity and control,
banking integration, payments and cash management, is pleased to
announce it has entered into an enterprise framework agreement for
Clareti with one of the world's largest banks.
The Tier 1 global bank is an existing customer and, under
previous agreements, has already deployed Clareti Transaction
Control (CTC) for regulatory reporting control and exception
management in multiple global markets, including G20 reporting in
UK, Europe and Asia and Consolidated Audit Trail (CAT) in the
United States. The new enterprise framework agreement consolidates
and extends the previous agreements and provides a strategic growth
framework for further adoption of CTC across the global
business.
The new agreement has a minimum committed value of USD $2.3
million over the initial 3-year term of which approximately USD
$0.3 million is already contracted up to April 2021 under the
previous agreements. The agreement increases the Group's
forward-looking annualised recurring revenues by USD $0.2 million,
net of renewing ARR, and additional incremental revenues are
expected during the term of the agreement. This contract further
underpins our confidence in current market expectations for both
the remainder of FY20 and FY21.
Ian Manocha, Chief Executive Officer, said:
"We are delighted to announce a new strategic agreement with
this major financial institution who we have been working with
since 2018. The agreement secures a significant level of revenue
for the Group over the next 3 years and provides a simpler
framework for the customer to bring new areas of their business
onto the Clareti platform. We look forward to further developing
our close collaboration with this important customer."
Enquiries
+44 (0) 207 653
Gresham Technologies plc 0200
Ian Manocha
Tom Mullan
+44 (0) 207 496
N+1 Singer (Financial Adviser and Broker) 3000
Shaun Dobson / Jen Boorer / Iqra Amin (Corporate
Finance)
Tom Salvesen (Corporate Broking)
Inside information
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.
Note to editors
Gresham Technologies plc is a leading software and services
company that specialises in providing real-time solutions for data
integrity and control, banking integration, payments and cash
management. Listed on the main market of the London Stock Exchange
(GHT.L) and headquartered in the City of London, its customers
include some of the world's largest financial institutions and
corporates, all of whom are served locally from offices located in
the UK, Europe, North America and Asia Pacific.
Gresham's award-winning Clareti software platform is a highly
flexible and scalable platform, available on-site or in the cloud,
designed to address today's most challenging financial control,
risk management, data governance and regulatory compliance
problems. Learn more at www.greshamtech.com.
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