Services expanding

Beeks adds two more top level clients to growing portfolio

Gordon McArthur

Beeks Financial Cloud Group, a cloud computing and connectivity provider for financial markets, has signed two additional clients: a global investment management organisation and a global bank.

Renfrewshire-based Beeks will provide the global investment management organisation with managed connectivity to support its fixed income platform. The contract is worth approximately £500,000 over the initial two-year period.

The global bank has contracted with Beeks’ via a partner for the delivery of an initial proof of concept for a fixed income implementation. This proof of concept is revenue generating and is currently live with the bank. It is anticipated to be a pre-cursor to an extensive deployment with the client.

These wins build on the announcement of Beeks’ first top level customer in December from the insurance sector, and add to the company’s growing portfolio in the fixed income asset class.

The company also announced that the group traded in line with expectations for the year ended 30 June ahead of final results, to be released in late August.

Gordon McArthur, CEO, said: “We are pleased to announce a strong second half and successful outcome to the year, in which we delivered continued revenue and profit growth, while expanding our offering.

“Beeks Financial Cloud is growing the services we can provide and therefore the variety of customers we can serve, as reflected by these exciting Tier 1 client wins.

“We are seeing growing interest from financial services organisations in managed cloud computing and connectivity. The resilience and scalability of our network, combined with our specialist financial services expertise, means we are increasingly well positioned to benefit from the growth of this market and we look to the future with confidence.”

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