Market Overview

Top Image Systems Signs a Large Multi-Year, Multi-Million Dollar Agreement With a Top 5 U.S. Bank


Top Image Systems, Ltd. (NASDAQ: TISA), a global innovator of intelligent content processing solutions, announced that the company has signed a large multi-year, multi-million dollar SaaS contract with a top 5 U.S. bank. Based on a SaaS business model, the deal provides TIS both high visibility into revenues as well as a stable, consistent source of revenues against the bank's steady multi-year stream of transactions.

The bank decided to deploy TIS' cloud-based solution because of the solution's superior technology and functionality, as well as to benefit from cloud-based economics. Other key factors in the choice included TIS' state of the art security and capacity for compliance, as well as our many years' experience integrating with leading banking business processing applications, including the system which is implemented at this bank.

The solution is expected to enter production between now and the end of the year and will bring enhanced functionality, better performance and easier access, as well as improved system uptime.

"TIS Americas is proud to meet our publicly stated goal of closing a large SaaS deal with a leading U.S. bank in 2015. More importantly, this deal illustrates the growing demand coming from U.S. banks for highly secure, reliable, economical, auditable and compliant cloud-based document management solutions, which directly impact the quality of the service they provide to their customers," commented Bob Fresneda, President, TIS Americas. "By continuing to focus on innovative cloud and mobile solutions, we are confident that TIS will rapidly and steadily build our market share, both in the banking and financial market where we have rich experience and a substantial install base, as well as across other industry sectors."

Posted-In: News Contracts Press Releases


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