Aptitude Software Group (LSE:APTD) has secured multi-year renewals for its Aptitude Accounting Hub with two banking groups in the UK and Ireland, with the contracts carrying a combined value of £6.5 million.
The UK banking customer has renewed its agreement for two years, while the Irish banking group has agreed a three-year renewal.
Aptitude said the agreements provide an opportunity to migrate the customers to its Fynapse finance platform and potentially introduce additional capabilities over time.
The company’s Accounting Hub operates as an accounting layer between high-volume transaction systems and general ledgers within financial institutions.
Separately, Aptitude has completed the implementation of Fynapse for the UK’s largest mobile virtual network operator, with the customer going live on the platform in September.
The implementation was completed over a 12-week period and replaced manual and offline billing-to-ledger processes with automated workflows.
Aptitude said the deployment demonstrates the implementation timeframe available through Fynapse compared with traditional finance transformation programmes. The company also sees potential for the technology to be deployed more widely within the customer’s broader group, although no additional contracts were disclosed.
More about Aptitude Software Group
Aptitude Software Group plc is a UK-listed provider of finance ERP software for large organisations, including customers operating in regulated industries.
Its Fynapse platform is designed to consolidate financial data and automate finance processes, as well as support analytics and AI-based applications.
The company serves approximately 100 customers and provides technology used within finance architectures in sectors including banking and telecommunications.
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