RS2 plc - Interim Directors’ Statement

On 19 May, RS2 Software plc published an Interim Directors’ Statement updating the market on developments largely related to its growth plans and business pipeline since the start of 2016.

The Directors noted the establishment of a new subsidiary in Manila (Philippines) thereby creating a presence in the Asia Pacific (APAC) region in addition to its presence in Europe, US and Latin America. In the US, the Group’s subsidiary, Transworks LLC, managed to secure a sponsorship with a bank which is essential for it to carry out its managed service business in addition to its licence offering. In the APAC region, RS2 is pursuing new opportunities with partners in India and Vietnam to offer its managed services and licencing solutions.

Furthermore, the wholly owned subsidiary RS2 Smart Processing Ltd, engaged two new clients for its managed services business, namely a payment service provider (PSP) in Germany and one of the largest acquirers in Europe. The Directors explained that these latest contracts confirm the trust the market is showing towards the strength of the BankWORKS solution and the related services offered by the Group.

In this respect, the Directors noted that the Group continues to attract significant attention in the market, particularly due to the flexibility and modularity of the BankWORKS platform in comparison with other systems currently in the market that are nowadays regarded as legacy systems especially in the US. The Group remains committed in creating visibility of BankWORKS through the participation in industry conventions which also provide the opportunity to interact with current and potential clients as well as other players in the market.

In conclusion, the Directors noted that the Group holds a very healthy business pipeline both in its licencing business and managed services as well as across different regions. As such, the Group is expected to continue building on the success of last year whilst investing in a number of foreign offices to support its global expansion as well as building and maintaining strategic relationships.