Gresham announces strong interim results for FY16

Clareti continues to propel Gresham forward, as data integrity moves up the regulatory agenda Gresham, the leading software and services company that specialises in providing real-time transaction control and enterprise data integrity software is pleased to announce itsinterim results for the six months to 30 June 2016. Highlights include: Total revenues up 10% to £7.8m Clareti revenues

Editorial Team
August 24, 2016
2 minutes

Tagged under:
BankingTech
InsurTech

Clareti continues to propel Gresham forward, as data integrity moves up the regulatory agenda

Gresham, the leading software and services company that specialises in providing real-time transaction control and enterprise data integrity software is pleased to announce itsinterim results for the six months to 30 June 2016.

Highlights include:

Total revenues up 10% to £7.8m
Clareti revenues up 46%
Total recurring revenues up 16% to £4.3m of which Clareti is up 47%
Investment in sales & marketing up 45%
Six new customers signed in H1, including three in the US
Market-leading innovation labs established in Bristol, UK

Adoption of Gresham’s flagship Clareti Enterprise Data Integrity platform (Clareti) continues to grow strongly, as increased risk and regulatory pressure keep the spotlight firmly on the importance of data integrity and control for financial services firms.

Three new customer wins in the US reflect the strategic importance of this market for Gresham. Clareti deals have been signed with a third party fund administrator and a US asset manager, which selected CTC in the cloud, leveraging Gresham’s Clareti-as-a-Service platform. In addition, three UK buy-side firms have replaced their legacy and user developed matching and reconciliation applications for Gresham’s enterprise data integrity platform.

Gresham now has over 30 direct Clareti customers using the software live in their business on a daily basis up from 20 customers a year ago, and the number of indirectly contracted customers using Clareti software via white-labelled services also continues to grow with the support of our bank partners.

Further go-lives are planned for H2 including a North American Tier 1 bank that has signed since 1 July 2016. Additionally, Gresham has secured a licence upgrade from an existing global investment bank customer enabling it to extend the use of the technology into new areas, including the replacement of legacy incumbent solutions.

Ian Manocha, CEO Gresham said: “The investments the Group has made in sales and marketing, and in our Clareti-as-a-Service cloud offering are flowing through into our pipeline, and we enter the second half with strong momentum. The importance of data integrity is indisputable in the financial services sector, and is now starting to take on real significance across other industries. Smart, high-integrity information is vital for data driven decision making and will continue to grow in importance in line with fast-moving, high volume data and transaction flows.”