CTC Contract Win

RNS Number : 3929J

Gresham Computing PLC

07 April 2015

 

7 April 2015

Gresham Computing plc
("Gresham" or the "Group")
Significant CTC contract win

Gresham, the leading software and services company that specialises in providing real-time financial transaction control software to the global matching and reconciliation market, is pleased to announce the following significant CTC contract win:

One of the world's leading insurance brokers has purchased CTC as a strategic control platform for real-time matching and reconciliation of transaction data across global operations.  CTC will assist the broker in improving operational control and delivering efficiencies whilst meeting their growing regulatory obligations.

CTC will initially be used by the insurance broker in two main areas: (1) matching and reconciliation of non-standardised intercompany transactions and (2) matching and reconciliation of standardised transactions on the London bureau market against the broker's internal systems.  These initial phases will be followed by the use of CTC for the matching and reconciliation of non-standardised non-bureau transactions.

Going forward, CTC will be used for the reconciliation and control of insurance transactions in all global markets, either introducing new controls or replacing existing ones.

CTC is an entirely configurable matching and reconciliation platform that has been designed to accept all data formats (non-standardised and standardised) and is sufficiently flexible to deal efficiently and effectively with any subsequent changes made to business processes, systems and data formats.

CTC was selected following an assessment of various factors, including: rapid on-boarding time (that is the time taken to get data into CTC, configure matching rules and the user interface), auditability, scalability, future-proofing, stability and flexibility.

This new contract will provide a strong contribution to our planned CTC revenues in the current and future years.

Chris Errington, CEO of Gresham, commented:

"We are delighted to be working with a dominant and forward looking member of the global insurance community to deploy CTC as a real-time control platform across their business.  This is our most significant contract win to date in the non-bank market, adding a further key customer account to our growing list and demonstrating the wide applicability and potential for CTC."

- Ends -

For further information please contact:

Gresham Computing plc Chris Errington, CEO Rob Grubb, CFO	[phone]
N+1 Singer Shaun Dobson, Head of Corporate Finance Emily Watts	[phone]

 

END

 

 

CNTSSSFWEFISESL