TORONTO, Ontario – March 2, 2023 /Globe Newswire/ – NowVertical Group Inc. (TSX-V: NOW) (OTCQB: NOWVF) (“NOW” or the “Company”), the vertical intelligence (“VI”) software and solutions company is pleased to announce it has renewed its contract with one of the oldest of South Africa’s “big four” banks (the “Customer”) for a fourth consecutive term. The renewal brings the total lifetime value of the ongoing engagement above the seven-figure range and represents the management of more than 1 billion unstructured data records.
Under the contract, NOW will provide essential work and technology through its NOW Privacy software solution to ensure ongoing compliance with the Protection of Personal Information Act (“POPIA”) of South Africa, manage and reduce surface attack exposure, and provide efficiencies for data subject access requests.
With this recent extension, NOW adds to a quickly growing list of financial services that entrust critical functions of their industry-specific data processing and management to it. NOW’s financial services customers include Equifax, Santander, Western Union, Arrow Global, Grupo Petersen, Banco Macro and Banco Sol, amongst others.
“We are extremely pleased that another large, global financial institution has once again entrusted NOW to provide them with essential data governance software solutions,” said Daren Trousdell, Chairman and CEO of NOW. “By providing industry-specific applications of AI technologies and services, we unlock value for the modern enterprise. Our VI platform provides mission-critical AI and big data solutions for our global financial customers to meet and exceed regulatory compliance, track data access, reduce risk and retain customers.”
About NowVertical Group Inc.
NowVertical Group is the vertical intelligence (VI) software and solutions company that helps organizations confidently make bold decisions. NOW’s proprietary VI solutions, organized by industry vertical, are built upon a foundational set of data technologies that fuse, secure, and mobilize data in a transformative and compliant way. The NOW product suite enables the creation of high-value VI capabilities that are predictive and drive automation specific to each industry vertical. The company was founded in 2018 and is rapidly growing organically and through targeted acquisitions. For more information about NOW, visit www.nowvertical.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Daren Trousdell, Chief Executive Officer
t: (212) 302-0868
Glen Nelson, Investor Relations
t: (403) 763-9797