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RegTech Open Project PLC on Monday said it struck a £200,000 deal with an unnamed Italian cooperative banking firm.
Shares in Regtech were up 16% to 9.86 pence each in London on Monday morning.
The London-based technology business focuses on automation and optimisation of regulatory compliance operations said the deal replaces an existing software licensing agreement with a software-as-a-service subscription, as well as the provision of professional services for a data-resilience project.
Additionally, the deal comprises a SaaS subscription for six months, with an option to extend for a further six months.
RegTech Chief Executive Officer Ian Halliday-Pegg said: ‘This agreement represents another significant milestone in the delivery of the group’s strategy. This deal not only demonstrates the industry-leading capabilities which RTOP offers its clients, but also highlights our ability to develop and grow value-based relationships with high profile, systemic European banking groups.’
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