IRIS Business Services Secures Contract Extension with South African Partner
Filing Summary
IRIS Business Services Ltd has announced an extension of its existing contract with Xpert Decisions Systems (Pty) Ltd, a South African partner. The agreement involves the continued implementation and support of the CODI deposit insurance solution for the South African Reserve Bank. This contract is part of the company’s regular business activities and does not materially impact its financials. The contract value remains confidential and is subject to negotiation. The disclosure complies with SEBI regulations and is available on the company’s website.
IRIS Business Services Ltd has confirmed the extension of its contract with Xpert Decisions Systems (Pty) Ltd, a South African partner. The extension pertains to the ongoing implementation and support of the CODI deposit insurance solution for the South African Reserve Bank. This update follows a previous disclosure made on March 3, 2023.
The extended contract involves technology implementation and support services. It is classified as an international engagement. The specific terms of the contract, including the project timelines, are detailed in the Statements of Work, which remain confidential. The financial consideration for this contract is also confidential and will be negotiated with the partner.
This engagement is conducted in the ordinary course of business for IRIS Business Services and does not have a material impact on the company’s financials. The disclosure is made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and complies with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.
The contract does not involve any related party transactions, and there is no interest from the promoter or promoter group in the entity awarding the contract. The disclosure has been made available on the company’s website for public access.
Xpert Decisions Systems (Pty) Ltd is a partner in the implementation of technology solutions, focusing on providing support and services for financial institutions. The company collaborates with international partners to deliver specialized solutions tailored to the needs of its clients.
IRIS Business Services Ltd, now operating as IRIS RegTech Solutions Limited, specializes in providing regulatory technology solutions. The company focuses on delivering software solutions that assist financial institutions in meeting regulatory requirements efficiently. IRIS continues to expand its international presence through strategic partnerships and technology-driven engagements.