Ten Wins Contract With OCBC Bank

RNS Number : 6114L

Ten Lifestyle Group PLC

20 April 2018

 

Ten Lifestyle Group plc

("Ten" or the "Company")

Ten Wins Contract with OCBC Bank

Ten Lifestyle Group plc (AIM: TENG), a leading technology-enabled lifestyle and travel platform for the world's wealthy and mass affluent, is pleased to announce it has won a new contract with OCBC Bank, the second largest financial services group in Southeast Asia by assets and the parent company of the Bank of Singapore, to provide concierge services to its high and ultra-high-net-worth clients as part of its Voyage Card Concierge programme. 

Ten will provide members with a premium travel and lifestyle concierge service, including access to unique offers, benefits, and localised events, as well as access to its leading digital platform among other services.

This is Ten's first contract with OCBC Bank, with concierge services online and offline expected to go live in late 2018. Ten was awarded the contract following a competitive tender and will be replacing the incumbent provider.

The contract is expected to be a Medium contract¹.

 Desmond Tan, Head of Group Lifestyle Financing, Global Consumer Financial Services, OCBC Bank, said;

"With this new partnership with Ten, our OCBC Voyage card customers will be served by a market-leading travel and lifestyle concierge platform which gives access to unique cultural, gastronomic and travel experiences. We are certain that this differentiated service will help strengthen engagement and loyalty, and increase satisfaction with our customers."  

Andrew Long, Group COO, Ten Lifestyle Group plc, said;

"We are incredibly honoured to have been chosen as a key partner for such a powerhouse of a bank here in Singapore, and the Southeast Asian market. Singapore is known for its exceptional customer service and we are excited to bring our unique digital platform and in-depth knowledge of the market to the OCBC Bank's Voyage card base."

(1) Contracts where Ten provides concierge and related services where the annual value of net revenue is between £250,000 and £2 million.

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Enquiries:

Ten Lifestyle Group Plc                                                 via Tavistock

Alex Cheatle, Chief Executive Officer

Sean Hegarty, Chief Financial Officer

Kerry Anderson, Head of PR                                       [phone]

Jefferies International Limited                                 [phone]

Nominated Advisor       

Simon Hardy

Christopher Binks

Tavistock                                                                             [phone]

Jos Simson

Mark Foxwell

Sophie Praill

Notes to Editors:

About Ten Lifestyle Group Plc

Ten Lifestyle Group Plc, founded in 1998, is a leading, technology-enabled lifestyle and travel platform, providing trusted concierge services to its members around the clock, 365 days a year. The Group currently has a headcount of over 750 staff around the world and is listed on the AIM market of the London Stock Exchange (AIM: TENG).

Ten assists its members to discover, organize and book travel, dining and live entertainment; seeking to save them both time and money. Through Ten's service proposition, members can achieve superior access, experiences and outcomes, more cost-effectively and conveniently than they could have achieved on their own. Ten provides a high-touch travel and lifestyle concierge service, underpinned by its proprietary technology-enabled platform.

Across the business, Ten manages and provides its personalized service to more than 1.6 million registered private and corporate individuals on behalf of over 40 organisations.

Ten is headquartered in London, with offices in 20 locations globally serving its growing global network of members.

For further information about Ten Lifestyle Group Plc, please go to: https://www.tengroup.com/.

 

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