TIDMFXI

RNS Number : 5419R

Fusionex International PLC

12 December 2016

 
 For Immediate Release   12 December 2016

Fusionex International PLC

("Fusionex" or the "Group")

GIANT 2016 contract win with major Asian bank

Fusionex, a multi-award winning international software solutions provider specialising in Big Data Analytics, the Internet of Things ("IoT"), Artificial Intelligence, and Deep Learning, is pleased to announce a contract win, that is expected to generate over a million dollars of revenue over time, for its next generation Big Data platform, GIANT 2016, with a major Asian bank. The client, which has a presence in thousands of locations across Asia, will be using Fusionex's Big Data solution to accelerate its move into digital banking and cognitive computing.

GIANT 2016 will be implemented to upgrade the data management of one of Asia's oldest financial services companies. The legacy manual data management system will be transformed into an automated and efficient structure, entailing seamless data collection as well as smart-processing, therefore generating significant efficiency, time and cost savings for the client. In addition, the security and traceability features of Fusionex's Big Data solution will further enhance the bank's ability to secure data across its businesses, which include commercial, corporate, retail, consumer, and micro banking.

Ivan Teh, Fusionex Managing Director and Chief Executive Officer, commented:

"We are delighted to be working with this forward-thinking financial services company. The contract win clearly demonstrates the growing demand for data management and analytics which generate significant productivity, cost and efficiency gains in the financial services sector, amongst other industries. Fusionex looks forward to working closely with the client, especially in the areas of 'fast data', streaming capabilities, deep learning and artificial intelligence and looks forward to the successful roll-out leading to further work together."

This announcement contains inside information.

For further information please contact:

 
 Fusionex                                     Through Buchanan 
  Ivan Teh, Chief Executive Officer 
  Yuen Choong Lai, Chief Financial 
  Officer 
  Darren Hopkins, Director of Investor 
  Relations & Corporate Development 
 Panmure Gordon (Nominated Adviser 
  and Joint Broker) 
  Andrew Godber, Alina Vaskina (Investment 
  Banking) 
  Charles Leigh-Pemberton (Corporate 
  Broking)                                       0207 886 2500 
 
   Peel Hunt LLP (Joint Broker) 
   Richard Kauffer, Euan Brown                   0207 418 8900 
 
   Buchanan 
   Sophie McNulty, Stephanie Watson, 
   Patrick Hanrahan                              0207 466 5000

This information is provided by RNS

The company news service from the London Stock Exchange

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