Banking and wealth management software provider Lombard Risk Management PLC (LON:LRM) is encouraged by its pipeline of new business prospects.
At its annual general meeting (AGM) this morning, non-executive chairman Philip Crawford was set to tell shareholders that the company continues to see a positive market for its products.
The roll out of Lombard’s next generation reporting product, AgileREPORTER, continues to present a broad range of opportunities, both in terms of upgrading existing regulatory reporting clients and accessing new markets.
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Its flagship product enables banks and financial institutions to keep the regulators and compliance officers happy, while also providing key information for company management.
“The widening requirement for collateral clients to comply with, amongst others, uncleared margin rules, along with key product enhancements such as the launch of our Exchange Traded Derivatives module, offers similar opportunities in the collateral management space,” Crawford’s AGM statement said.
Hub in Midlands to bring cost advantages
As per usual, revenues in the current financial year (to end of March) are expected to be weighted to the second half.
The company continues to invest in its development centre in Birmingham, and believes its decision to build a technology development hub in the Midlands will bring both cost advantages - the company had previously told Proactive it was becoming increasingly difficult to source talent at its Shanghai development hub - and time-to-market benefits.
“The board is satisfied with the progress of this important initiative and continues to look to the future with confidence," Crawford’s statement concluded.