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Clareti Transaction Control Banking contract win for Gresham Tech

Clareti Transaction Control Banking contract win for Gresham Tech

Gresham Technologies plc, 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.