Tickers: XCNQ:RIW
Tags: Blockchain, Technology
Toronto, ON / TheNewswire / October 22 2018 - RIWI Corp. (CSE: RIW) (the "Company" or "RIWI") is pleased to announce that one of its finance clients, a top-10 bank in the world as measured by assets under management, has awarded the Company a third contract. Work on this new contract, valued at US $543,000, has begun.
RIWI has so far won US $1.1 Million in business with this client over the course of the past 13 months. RIWI earns recurring revenue with the bank pursuant to a three-year long-term agreement signed in August 2017. RIWI signed its first contract in September 2017 valued at US $315,000 and signed a second contract valued at US $238,000 in February 2018. RIWI responds to ongoing data needs identified by the bank's global teams and therefore RIWI expects to win additional contracts in 2019 and 2020.
"Our unwavering commitment to client delivery excellence ensures that a growing proportion of RIWI's work in all of its business lines - global finance, global security, humanitarian aid, and global consumer goods - is now recurring revenue under long-term agreements," notes Mr. Neil Seeman, CEO of RIWI.
RIWI's data-on-demand offerings include: time-series analysis; predictions about major geopolitical events that significantly impact equities and commodities markets; and real-time analytics-infused insights about fast-changing investor sentiment and technology trends.
About RIWI
RIWI is a global trend-tracking and prediction technology firm. On a monthly or annual subscription basis, RIWI offers its clients tracking surveys, continuous risk monitoring, predictive analytics and ad effectiveness tests in all countries. https://riwi.com/.
RIWI CORP.
Signed: "Neil Seeman"
Neil Seeman, Chief Executive Officer
For more information, please contact:
Daniel Im, Chief Financial Officer
danielim@riwi.com | 1 416 205 9984 ext. 2
CAUTION REGARDING FORWARD-LOOKING INFORMATION:
Information and statements contained in this news release that are not historical facts are "forward-looking information" within the meaning of Canadian securities legislation that involves risks and uncertainties. Forward-looking information included herein is made as of the date of this news release and RIWI does not intend, and does not assume any obligation, to update forward-looking information unless required by applicable securities laws. Forward-looking information relates to future events or future performance and reflects management of the Company's expectations or beliefs regarding future events. This forward-looking information is based, in part, on assumptions and factors that may change or prove to be incorrect, thus causing actual results, performance or achievements to be materially different from those expressed or implied by forward-looking information.
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