NowVertical Signs Multi-Year Contract With Leading South African Bank
NowVertical Signs Multi-Year Contract With Leading South African Bank. NowVertical Group Inc., a leading data analytics and AI solutions company, is pleased to announce it has renewed its contract with one of the oldest of South Africa’s “big four” banks for its NOW Privacy software. With this third consecutive renewal, the Customer has agreed to a 3-year $1.5 million commitment paid in the first half of 2024. This demonstrates a transition from previous one-year contracts to a substantial long-term partnership.
Under this multi-year renewal, NOW will continue delivering its solutions, services and cutting-edge technology through its NOW Privacy software solution. Among other use cases, NOW Privacy ensures ongoing compliance with the Protection of Personal Information Act (“POPIA”) of South Africa, effectively manages and reduces surface attack exposure, and streamlines processes for data subject access requests. The NOW Privacy technology is responsible for overseeing the management of over 1 billion unstructured data records for this Customer.
This contract solidifies NOW’s standing as a trusted partner among leading financial institutions globally. In addition to its longstanding relationship with the renewed South African bank, NOW serves a rapidly expanding portfolio of financial services clients, including industry giants like Lloyds Bank, Santander, Western Union, Industrial and Commercial Bank of China, Grupo Petersen, Banco Macro, and Banco Sol.
Sandeep Mendiratta, CEO of NOW, conveyed his satisfaction, remarking, “We are immensely pleased that another large, global financial institution has once again placed its trust in NOW to provide essential data governance solutions. It’s invigorating to collaborate with our clients, empowering them to harness the potential of our data and AI solutions to drive tangible business outcomes by unlocking the inherent value within their data. Our suite of solutions and services remains instrumental in empowering our global financial clients not only to meet but exceed regulatory compliance standards, proactively track data access, mitigate risk, and foster meaningful customer engagements.”
