RC365 Holding plc (LSE:RCGH) has added Target International Trustee Limited as the second client for the Wealth Management System SaaS platform operated by its Regal Crown Technology subsidiary.
Target International Trustee Limited, a Hong Kong-based trust company, will use the Wealth Management System alongside RC365’s Banking Virtual Account service. According to RC365, the client provides family and corporate trust and custodian services.
The companies have entered into a five-year strategic agreement that will renew automatically. Under the arrangement, Regal Crown Technology will provide multi-currency business virtual accounts, an upgraded trust management system, fintech integration and API access.
RC365 said the agreement will generate recurring SaaS fees of US$10,000 per month, equivalent to US$120,000 annually based on the stated monthly fee.
The agreement represents the second subscribing trust company using the Wealth Management System as RC365 continues the commercial rollout of the platform.
About RC365 Holding
RC365 Holding operates in the payments and financial technology sector, primarily in East and Southeast Asia, through subsidiaries including Regal Crown Technology and HC Capital.
The group provides services including payment gateways, IT support for financial systems and ERP solutions. Its activities have also expanded into digital remittance, foreign exchange and asset-linked credit card services for merchants, small and medium-sized businesses and individuals.
RC365 is developing additional financial technology services, including virtual banking and Banking Virtual Account products, and plans to expand geographically into the UK and other European markets.
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