Proactis marks milestone in US with five-year deal with top bank

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SOFTWARE firm Proactis Holdings ​said it has signed a five-year deal with a leading US regional bank ​which​ has the potential to generate more than $2m (£1.2m) in revenue. ​

The Wetherby-based firm​ said​ ​as a result of this extra revenue it expects 2015 sales and profits to beat market expectations.

Proactis’ software will help Fifth Third Bank, one of the top 15 US regional banking corporations, to deliver profit improvements by bringing more of its expenditure on contract and under control.

Proactis’ CEO Rod Jones said: “We are delighted to have signed this deal which represented a milestone in the company’s US growth.

“We have a great solution which we believe can help Fifth Third realise its investment in a very short space of time.

“Our client-focussed approach and our geographic reach means we can serve Fifth Third exceptionally well and I am looking forward to broadening the relationship in the fullness of time.”

Fifth Third Bank is headquartered in Cincinnati, Ohio. It has $130bn (£77bn) in assets and operates 17 affiliates with 1,309 full-service banking centres and 2,616 ATMs across 12 states throughout the Mid-western and South-eastern regions of the US.

Proactis creates, sells and maintains specialist software which enables organisations to streamline, control and monitor all internal and external expenditure.

Its software is used in over 400 organisations around the world from the commercial, public and not-for-profit sectors.

Earlier this year, Proactis reported record forward orders during a “transformational” period for the group.

The group said it has seen encouraging levels of profit and its core UK business is growing well.

It said that its Indian operation has made further progress and two new deals were signed with Mittal network companies.

The group reported a three per cent increase in revenues to £4m in the six months to January 31.