Ten upgrades contract in Latin America

RNS Number : 6944G

Ten Lifestyle Group PLC

17 November 2022

 

17 November 2022

Ten Lifestyle Group plc

("Ten" or the "Group")

Ten upgrades contract in Latin America

Ten Lifestyle Group plc (AIM: TENG), the platform driving customer loyalty for global financial institutions and other premium brands, is pleased to announce that a concierge programme for the premium cardholders of an issuing bank in Latin America is being upgraded.

On 9 August 2022, it was announced that Ten won a competitive tender with an existing global client to launch a digitally enabled concierge programme for the premium cardholders of an issuing bank in Latin Americas.

It was expected that the new deal would represent a Medium¹ contract in 2023.

Member engagement with new programme has exceeded expectations, leading to an additional commitment from the corporate client to expand the programme, including paid-for customised content and assets, to further drive their customer loyalty objectives.

It is now expected that the programme will represent a Large contract in 2023.

¹ Ten categorises its corporate client contracts based on the annualised value paid, or expected to be paid, by the corporate client for the provision of concierge and related services by Ten as: Small contracts (below £0.25m); Medium contracts (between £0.25m and £2m); Large contracts (between £2m and £5m); and Extra Large contracts (over £5m). This does not include the revenue generated from suppliers through the provision of concierge services. Medium, Large and Extra Large contracts are collectively Ten's "Material Contracts".

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For further information, please visit https://www.tenlifestylegroup.com/ or contact:

Ten Lifestyle Group Plc Alex Cheatle, Chief Executive Officer Alan Donald, Chief Financial Officer	[phone]
Peel Hunt LLP, Nominated Advisor and Broker Paul Gillam James Smith	[phone]

Notes to Editors:

About Ten Lifestyle Group Plc

Ten Lifestyle Group plc  partners with global financial institutions and other premium brands to attract and retain wealthy and mass affluent customers.

Millions of members have access to Ten's services across lifestyle, travel, dining, entertainment and retail benefits on behalf of over fifty clients including HSBC, Coutts, Morgan Stanley and Royal Bank of Canada. Ten's partnerships are based on multi-year contracts generating revenue through platform-as-a-service and technology fees.

Ten's operations are underpinned by an increasingly sophisticated personalisation platform comprising industry-first, proprietary technology, thousands of supplier relationships and 25 years of proprietary expertise delivered from 22 global offices.

Ten is on a mission to become the most trusted service platform in the world. 

For further information please go to: www.tenlifestylegroup.com.

 

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