RS2 plc - New Licence Agreement

On 20 February, RS2 Software plc announced a new licence agreement with OKQ8 in Sweden – one of the new client agreements referred to in the company announcement dated 14 November 2013. The agreement is for an indefinite period and RS2 will be receiving a monthly fixed fee for granting the use of the BankWORKS system.

OKQ8 has been an indirect user of the BankWORKS system for many years through one of Norway’s largest IT service companies which also uses BankWORKS. Consequently, OKQ8 chose to work directly with RS2 in order to power the continued expansion into specialist petroleum cards for companies and consumers across the Scandinavian region.

RS2’s CEO Mr Radi El Haj commented that the deal with OKQ8 highlights the flexibility of the BankWORKS system as it meets the client requirements for tailored products and services. Furthermore, the press release noted that this latest win follows a very successful year for RS2 during which it launched its managed services division, announced major wins with leading processors and concluded a licence agreement with Barclays Bank plc.