Fynapse contract win with major existing client

Aptitude (LSE: APTD), a market-leading provider of autonomous finance software solutions, is pleased to announce a Fynapse contract win with an existing Aptitude Accounting Hub client, a leading global insurer with operations in over 50 countries and territories (the "Client"). The Client has entered into a three-year expansion contract in excess of £4m incorporating Aptitude's next-generation Finance Data Management platform, Fynapse and the Aptitude Accounting Hub, adding to the Group's Annual Recurring Revenue ('ARR').

The three-year contract has commenced in June and will generate a £0.4m incremental uplift per annum to the existing total software contractual commitment, delivering a total software contract value for the three years in excess of £4.0m.

The Client wanted to move to autonomous finance and avoid a monolithic, lengthy and costly "big bang" implementation, opting instead for a rapid, incremental and flexible approach made possible by Fynapse due to its modular nature and speed of implementation.

With a substantial existing Aptitude Accounting Hub customer base, the opportunity for Fynapse expansion contracts is significant and a key strategic focus for the Group.

Alex Curran, CEO of Aptitude, said: "We are delighted to continue our work with this client, supporting their autonomous finance journey with our next-generation Fynapse platform. The selection by a leading global insurer underscores the demand for an alternative approach to finance transformation and showcases the platform's appeal to a top-tier financial services organization."

Aptitude Software Group plc