StatPro Group plc, ("StatPro", "the Group", AIM: SOG), the AIM listed provider of cloud-based portfolio analysis and asset pricing services for the global asset management industry has entered into a five-year contract with a global American financial institution for a minimum value over the period of US$1.75 million / £1.2 million. This contract win comes a week after a similar agreement with an Australian financial institution.
StatPro will supply its Revolution platform including the new Revolution Performance module.
The American company will use StatPro's latest cloud technology to replace its legacy systems, which will enhance the service offering to its many clients and grow its position in the global market.
StatPro Revolution Performance is the core transaction-based performance measurement module that will enable StatPro to complete the process of migrating its clients from StatPro Seven to the cloud-based Revolution platform.
The scalability, speed and efficiency of cloud technology means Revolution Performance will enable large asset managers and fund administrators to reap significant economies of scale and efficiency gains compared to legacy software solutions.
Justin Wheatley, Chief Executive of StatPro, commented: "This is the second significant win for our flagship service, StatPro Revolution, in as many weeks.
"As our Revolution Performance module approaches its formal launch in the third quarter of this year, we are seeing real interest from a number of regions in our cloud-based platform, which provides complete portfolio analytics and data management."