Plurilock Security Inc (TSX-V:PLUR) said it has signed a three-year contract renewal for its flagship software platform with Muthoot Finance Ltd, a leading financial services provider based in India.
With more than 5,750 branches and over 40,000 employees across India, Muthoot Finance offers various competitive loan products.
The customer will continue to license the cloud security functionality of the Plurilock platform, which includes IP and Device Restriction and Personal Email Block, for approximately 11,000 users.
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Additionally, the company has upsold an additional feature – Password Policy to Muthoot Finance as part of the contract renewal.
“We are pleased to announce a contract renewal with Muthoot Finance, a leading financial services brand in India,” said Ian L. Paterson, CEO of Plurilock in a statement.
“While our focus is to secure new clients for our high-margin software solutions, we also aim to maintain a strong business relationship with existing customers, which results in high customer retention and the potential for us to either cross-sell or upsell additional features of our platform," he added.
Plurilock offers world-class IT and cybersecurity solutions through its Solutions Division, paired with proprietary, AI-driven and cloud-friendly security through its Technology Division.
Contact the author at jon.hopkins@proactiveinvestors.com