Vipera Plc (LON:VIP) Chief Executive Officer Marco Casartelli caught up with DirectorsTalk for an exclusive interview to discuss their preliminary results, their significant contract win and how they’re progressing in 2017
Q1: Marco, you’ve just announced news of a significant contract win for Vipera, can you tell us a little bit more about the deal?
A1: Sure. This deal is with one of our longstanding customers, it is a bank in the Middle East to whom we have been providing a mobile banking solution for several years and has now chosen to use our technology for all their digital channel needs.
Q2: The contract is with, like you say, an existing customer and is your largest to date. So, how much is it worth for Vipera?
A2: The deal is worth initially $2.4 million of which $1.8 million goes into this year and the rest in Q1 next year and yes, it is indeed the largest deal ever. We are also finalising $4 million in support and maintenance services which will span over the next 5 years, including 2017.
Q3: So, what additional services and functionality will you be delivering to your new customer?
A3: We’ve always provided this bank with mobile banking functionalities and so the bank has been doing platform for that and now they are using that also for all the digital channels. This means that we’re going to implement online banking, replacing the existing online solution, as well as application of the branches which can be used by sales bank people in providing services to the customers and also something on the ATM side.
Q4: How is 2017 progressing for Vipera?
A4: Well, it started very positively. We actually, at the end of Q1, we had a booked order of about €7 million which is 2 million better than this time last year and we also have a strong pipeline, €8 million, of which €1 million is currently in negotiations and another €2 million in tenders that we’ve been shortlisted with. So, we definitely look forward to new deal announcements very very soon.