Tungsten Corporation PLC Tungsten announces Analytics joint venture (3385L)
27 April 2015 - 4:00PM
UK Regulatory
TIDMTUNG
RNS Number : 3385L
Tungsten Corporation PLC
27 April 2015
TUNGSTEN CORPORATION PLC
("Tungsten" or the "Company")
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN
PART, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN
NOR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF
THE RELEVANT LAWS OF SUCH JURISDICTION
For Immediate Release 27 April 2015
TUNGSTEN CORPORATION PLC
("Tungsten" or the "Company")
Tungsten announces Analytics joint venture with Goldsmiths
Directorate Change
London, 27 April - Tungsten Corporation plc (LSE: TUNG) today
announced that it is establishing the Tungsten Centre for
Intelligent Data Analytics ("TCIDA") a research and development
partnership between Tungsten and Goldsmiths, University of
London.
TCIDA will be chaired by Phil Ashdown. Having successfully led
the acquisition of, regulatory approval for and subsequent
development of Tungsten Bank, Ashdown is stepping down as CEO of
Tungsten Bank and from Tungsten Corporation's board with effect on
24 April 2015.
Edmund Truell, Group Chief Executive of Tungsten Corporation
said, "I am excited by the prospects for Tungsten Analytics. We are
looking to extend our lead in the real time analysis of the
enormous repository of data to which we add every day. Phil, having
initiated Tungsten Analytics and who was instrumental in acquiring
Tungsten Bank, steering it through its authorisation in the UK and
major EU countries, will now Chair TCIDA and focus his attentions
on our new partnership with Goldsmiths.
On the Banking front, we are entering the next exciting phase of
development and now intend to accelerate our disruption of a
lending market that continues to neglect the working capital and
credit needs of businesses, particularly SMEs."
Enquiries:
Tungsten Corporation plc.
Edmund Truell, Chief Executive +44 20 7280
Officer 7901
Juliana Wheeler, Head of +44 20 7280
Global Communications 7973
Charles Stanley Securities
(Nominated Adviser and Joint
Broker) +44 20 7149
Marc Milmo/Dugald Carlean 6000
Canaccord Genuity Limited
(Joint Broker)
Simon Bridges/Peter Stewart/Cameron +44 20 7523
Duncan 8000
Neustria Partners (Investors
and Analysts)
Robert Bailhache/Nick Henderson/Charles +44 20 3021
Gorman 2580
Speed Communications (Press) +44 117 973
Rosie Park / Kerry Grove 3300
About Tungsten Corporation plc
Tungsten Corporation (LSE: TUNG) accelerates global trade by
enabling customers to streamline invoice processing, improve
cash-flow management and make better buying decisions from their
detailed spend data.
Buyer organisations that join Tungsten Network, the world's
largest compliant electronic invoice network, can reduce their
invoice-processing costs by 60%. Suppliers benefit from
efficiencies, greater visibility of their invoice status and peace
of mind. Tungsten offers supply chain financing through Tungsten
Bank; and helps buying organisations profit by applying real-time
spend analytics to its vast repository of line-level invoice
data.
Tungsten serves 56% of the Fortune 500 and 67% of the FTSE 100
by connecting the world's largest companies and government agencies
to their thousands of suppliers around the globe. It enables
suppliers to submit tax compliant e-Invoices in 47 countries, and
last year processed transactions worth over $187bn for
organisations such as Alliance Data, Aviva, Cargill, Deutsche
Lufthansa, General Motors, GlaxoSmithKline, Henkel, IBM, Kellogg's,
and the US Federal Government.
Tungsten Corporation acquired DocuSphere, a provider of accounts
payable automation solutions, in September 2014.
Contact: Juliana Wheeler, Head of Global Communications, +44 20
7280 7973.
juliana.wheeler@tungsten-network.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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