New global contracts combined with organic growth and client retention expand the company's footprint across banking, insurance, and investment services
NEW YORK, June 12, 2024 /PRNewswire-PRWeb/ -- Supply Wisdom, the market's only full-stack, real-time risk intelligence SaaS platform powered by AI, today announced three new customers in the financial services industry, contributing to the company's 120% year-over-year (YoY) revenue growth.
Q2 customer wins include:
- One of the three largest banks in Ireland.
- One of the 50 largest asset managers globally.
- One of the largest home, auto, and business insurers in the U.S.
Expanded Q2 contracts include:
- One of the four largest banks in the U.S.
- One of the largest four brokerage firms in the U.S.
- One of the leading insurance, retirement, and investment services providers in the US.
Organizations across financial services, technology, energy, healthcare, and more are being challenged to maintain both environmental and economic responsibility, while also managing intricate supply chains and numerous third-party vendors. Not to mention, navigating a volatile market exacerbated by disruptions from climate change, economic fluctuations, and geopolitical conflicts. But by forgoing traditional risk management processes and instead embracing predictive, AI-based solutions, companies can stay ahead of the competition and ensure they have resilient risk management frameworks in place to overcome these hurdles.
"With rising threats across all markets, more and more companies are recognizing that their existing third-party risk management strategies, or lack thereof, are no longer sustainable from a time, cost, and reputational perspective. No one can afford supply chain delays, nor can they afford lengthy, complex vendor onboarding," said Tom Thimot, CEO of Supply Wisdom. "We are helping leading players address these concerns quickly and efficiently, while providing them with an unmatched competitive edge. Innovative third-party risk, procurement & sourcing, IT, and revenue growth leaders are coming to Supply Wisdom because they understand the positive impact that continuous monitoring can have on ROI, revenue potential, regulatory excellence, and crisis prevention."
With these new customers, Supply Wisdom is now working with two of the top three banks in Ireland, and 14 of the Fortune 100 and 21 of the Fortune 500 companies. Supply Wisdom has achieved 56% YoY growth in number of customers.
Thimot continued, "We are excited to see this growth with several new customer wins and expanded contracts in Q2 and expect to continue this momentum throughout the rest of 2024."
To learn more about how Supply Wisdom is revolutionizing risk management for financial services organizations, check out the company's latest case study with a large regional U.S. bank here. For a free, two-week trial, organizations can sign-up for real-time alerts on specific third parties and locations here.
About Supply Wisdom
Supply Wisdom transforms global business with comprehensive, predictive, real-time risk intelligence. Through continuous monitoring, comprehensive intelligence reports, and real-time alerts, Supply Wisdom speeds business growth, lowers costs, increases security and compliance, and unlocks revenue opportunities. Supply Wisdom's full-stack AI-based SaaS products turn open-source data into risk intelligence and are the market's only software to cover all risk domains in real-time: financial, cyber, operational, ESG, compliance, Nth party, and location-based risk. Supply Wisdom clients include Fortune 100 and Global 2000 firms in the financial services, insurance, healthcare, and technology sectors, including United Healthcare, BNY Mellon, and Bank of Ireland. Supply Wisdom values diversity with a global workforce that is currently 57% female.
Media Contact
Aileen McNelis, Supply Wisdom, 1 732-813-1146, [email protected]
SOURCE Supply Wisdom
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