Intercede Group PLC New Contract Award (9045X)
November 30 2017 - 1:00AM
UK Regulatory
TIDMIGP
RNS Number : 9045X
Intercede Group PLC
30 November 2017
30 November 2017
INTERCEDE GROUP plc
('Intercede', the 'Company' or the 'Group')
New Contract Award
Intercede, the software and service company specialising in
identity, credential management and secure mobility, today
announces it has signed a contract with a large European bank.
Under this agreement, Intercede will supply its MyID product for
over 10,000 employees in addition to recurring support and
maintenance services. The deal is worth more than GBP250,000 over a
three-year period with most of the value accruing in the first 12
months of the contract period.
Intercede's MyID will enable the bank to eliminate a reliance on
the use of potentially insecure passwords for its internal systems
security. In doing so, the bank will become more resistant to
social engineering and other cyber-attacks based on compromising
employee passwords. By deploying more robust methods of
authentication, the bank will be able to reduce instances of fraud
and improve the level of privacy and security provided to customers
across the globe. Consequently, the bank will reduce its overall
financial risks and exposures under the upcoming EU's General Data
and Protection Regulations (GDPR).
Richard Parris, Chairman & Chief Executive of Intercede,
said:
"This contract was secured following a comprehensive and
exhaustive tender process over an extended period. Our success
demonstrates that Intercede's MyID product for employees remains
the top of its class, is technically relevant and commercially
viable for some of the world's largest and most security sensitive
companies. I am delighted we secured this win in a country with a
strongly competitive local market thereby proving our capacity to
project our sales and technical support capabilities into the wider
EU marketplace."
ENQUIRIES
Intercede Group plc Tel. +44 (0)1455 558 111
Richard Parris, Chairman & Chief Executive
Andrew Walker, Finance Director
finnCap Tel. +44 (0)20 7220 0500
Stuart Andrews, Corporate Finance
Simon Hicks, Corporate Finance
Capital Access Group Tel. +44 (0)20 3763 3400
Scott Fulton, Media
Ed Welsby, Investors
About Intercede
Intercede is a cybersecurity company specialising in digital
identities, derived credentials and access control, enabling
digital trust in a mobile world.
Headquartered in the UK, with offices in the US, we believe in a
connected world in which people and technology are free to exchange
information securely, and complex insecure passwords become a thing
of the past.
Our vision is to make the highest levels of cybersecurity
available to organizations and consumers alike, solving complexity
and scalability issues by managing high volumes of digital
credentials.
We have been delivering trusted solutions to high profile
customers for over 20 years. Our team of experts has deployed
millions of identities to governments, most of the largest
aerospace and defence corporations, and major financial services
and healthcare organizations, as well as leading
telecommunications, cloud services and information technology
firms, providing industry-leading employee and customer credential
management systems.
For more information visit: www.intercede.com
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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