Gresham Technologies plc announced a new Clareti contract win in the cash management industry. The customer, a leading provider of cash management and retail digital solutions and an existing user of Clareti technology in their European operations, has signed a contract to replicate the cloud-based solution to support its US business. In the initial phase of the project the firm will partner with Gresham to automate the end-to-end control and reconciliation of cash processing activities and improve the efficiency of exceptions management.

The initial contract has a minimum five-year term with total committed incremental subscription fees of $1.5 million over that period, with additional fees for professional services. A further phase of the US project is expected to enable the straight through processing of payments to multiple bank partners, for which incremental subscription fees are expected. This Key Customer operates in over 50 countries around the world providing further opportunity to expand a proven and successful partnership.