Let's reanalyse this very important announcement 3-4 months on.
1) This is important. Next month we may find out if the Barclays contract is extended or not renewed.
2) 9SP absolutely delivered on this NA bank statement with the Bank of America contract which was a huge win for the company.
3) This is the most telling paragraph. The Barclays exclusivity was an impediment to a global banking group that also operates within the UK (rather than a UK only bank). This is not in reference to Bank of America in my opinion. BofA generates 90% of its revenue domestically and does not have a significant UK operation.
My suspicion is that 9SP are in discussion with either HSBC or Santander. The 7th and 16th largest banks in the world respectively.
[q] HSBC Holdings plc is a British[6] multinational investment bank and financial services holding company. It was the 7th largest bank in the world by 2018, and the largest in Europe, with total assets of US$2.558 trillion (as of December 2018). HSBC traces its origin to a hong in Hong Kong, and its present form was established in London by the Hongkong and Shanghai Banking Corporation to act as a new group holding company in 1991.[7][8] The origins of the bank lie mainly in Hong Kong and to a lesser extent in Shanghai, where branches were first opened in 1865.[1] The HSBC name is derived from the initials of the Hongkong and Shanghai Banking Corporation.[9] The company was first formally incorporated in 1866. [/q]
[q] Banco Santander, S.A., doing business as Santander Group (/ˌsɑːntɑːnˈdɛər/), is a Spanish multinational commercial bank and financial services company based in Madrid and Santander in Spain. Additionally, Santander maintains a presence in all global financial centres as the 16th-largest banking institution in the world. Although known for its European banking operations, it has extended operations across North and South America, and more recently in continental Asia. [/q]
