Contract with South Asian financial institution

7 November 2022

GRC International Group PLC

IT Governance business signs three-year contract with South Asian financial institution

GRC International Group PLC (AIM: GRC, "GRC" or "the Group"), the international governance, risk management and compliance company whose main business is cyber defence-in-depth, announces that its IT Governance business has signed a three-year contract with a South Asian financial institution to help the organisation with its SWIFT compliance. This follows IT Governance recently being approved to join the SWIFT CSP (Cyber Security Providers) directory.

IT Governance will initially identify and report on gaps in the financial institution's SWIFT compliance and existing cyber security controls. It will then work with the organisation on remediation activities, recommending minimum security controls and reassessing its SWIFT compliance framework.

SWIFT is a global member-owned cooperative and the world's leading provider of secure financial messaging services. It carries over five billion financial messages a year. The CSP directory was developed by SWIFT for international businesses looking to assess counter parties' levels of cyber compliance and implementation of the CSP mandatory and advisory controls.

IT Governance was officially approved to join the Swift CSP directory in October 2022 having met the exacting criteria with its focus on cyber security services.

Alan Calder, Chief Executive Officer, commented:

"The combination of securing one of South Asia's largest financial institutions as a client and being approved for the SWIFT CSP directory demonstrate our growing international reach in Asia/Pacific and our widening capabilities.

"SWIFT's CSP programme is one of the largest of its kind in the world, particularly in financial services. It is one of only a few mandatory global cybersecurity programmes. IT Governance's addition to its unique CSP directory demonstrates our commitment to broadening our services in the financial industry and the strength of our SWIFT services.

"We believe that there are additional business opportunities to be pursued in the Asia/Pacific region and similarly the Swift CSP approval further enhances our highly regarded capabilities. We also hope to secure further contracts to assist organisations on SWIFT compliance."

Enquiries:

GRC International Group PLC +44 (0)330 999 0222

Alan Calder, Chief Executive Officer

Christopher Hartshorne, Finance Director

Singer Capital Markets (Nominated Adviser and Joint Broker) +44 (0)20 7496 3000

Phil Davies, James Fischer

Dowgate Capital Limited (Joint Broker) +44 (0)20 3903 7715

James Serjeant, Russell Cook, Nicholas Chambers

Meare Consulting +44 (0)7990 858548

Adrian Duffield

 About GRC International Group PLC

GRC is an international governance, risk management and compliance company whose main business is cyber defence-in-depth.

A technology business, its proprietary premier brands including the market leader, IT Governance, offer 'Our expertise, your peace of mind' for GRC's wide range of domestic and international corporate customers across all industrial sectors.

GRC's three operating divisions - Software as a Service (SaaS), e-Commerce and Services - offer a wide range of products and services encompassing: IT governance, risk management, compliance with data protection and cyber security regulations, online and in-person training and staff awareness, consultancy, online publishing and distribution as well as software. The Group's capabilities also include products and services to enable corporates to address wider governance issues such as money laundering and bribery.

In addition to its UK business, GRC has operations in the EU, US and Asia-Pacific regions. 

This is a Reach announcement and the information contained is not considered to be material or to have a significant impact on management's expectations of the company's performance.