IRIS RegTech Secures Contract from NEC Corporation India

IRIS RegTech Solutions Ltd has announced the receipt of a contract from NEC Corporation India Private Limited for the design, development, and maintenance of a Digital Regulatory Reporting (DRR) solution for the International Financial Services Centres Authority (IFSCA). This project is categorized as part of the company’s ordinary business activities.

The contract involves the creation and upkeep of a supervisory technology (SupTech) core system. The project is domestic in nature and will be executed over a period of approximately seven years. The financial terms of the contract, including its value, have not been disclosed and remain confidential.

According to the filing, there are no related party transactions involved in this contract, and the promoters or promoter group of IRIS RegTech Solutions Ltd do not have any interest in NEC Corporation India Private Limited. The company has complied with the necessary disclosure requirements as per the SEBI regulations.

NEC Corporation India Private Limited is a subsidiary of NEC Corporation, focusing on providing IT and network solutions to various sectors. The company is involved in developing innovative solutions that cater to the needs of its clients, emphasizing technological advancements and digital transformation.

IRIS RegTech Solutions Ltd, formerly known as IRIS Business Services Limited, specializes in regulatory technology solutions. The company focuses on developing and maintaining systems that facilitate regulatory compliance and reporting. It aims to provide efficient and reliable solutions to its clients, leveraging its expertise in regulatory technology.