BRANCHBURG, N.J.--(BUSINESS WIRE)--Hiperos, an Opus Global company and the leading provider of third-party management software, today announced it has signed a third major credit card network to use its global third-party management platform. This is in addition to seven financial institutions signing up as new name customers in the fourth quarter of 2014.
The win has significance for the evolution of systemic security and cost efficiency in the global credit card and payments technology industries. The critical mass created by a third credit card network exponentially improves cost efficiencies extracted from the Hiperos platform as all third parties are driven toward a consistent risk standard with uniform checks and balances and standardized reporting.
“The benefits for all three credit card networks resulting from a third joining are huge,” said Greg Dickinson, CEO of Hiperos. “They share thousands of third parties in common. The positive network effect of this will mean reduced monitoring costs, increased standardization and reduced third-party risk across the board. Everybody wins. It’s a testament to the power and value of the Hiperos network.”
The news comes fresh on the back of Hiperos’ recent announcement of record 2014 results. Newly signed annual contract value, a leading growth indicator for software-as-a-service providers, increased by 101 percent year over year, compared to 2013. This was accompanied by a 75 percent increase in new name customers, or “logos,” in the same period. Use of the Hiperos platform also surged, with volume of interactions between Hiperos customers and their third parties increasing by 104 percent across 180 countries.
In the fourth quarter of 2014 alone Hiperos added four companies from the Fortune 500, three more from the Forbes Global 2000, plus three of the largest banks in the world.
Hiperos, an Opus Global company, is the leader in Third-Party Management software connecting over 340,000 third parties to many of the world’s largest companies across a range of industry verticals including energy, financial services, manufacturing, real estate, pharmaceuticals, and technology. The company’s flagship product, Hiperos 3PM™, is the only solution in the market that is purpose-built to simultaneously minimize the risks of using third parties while maximizing the value they provide. Implemented by the global 2000 and business consortiums to address their expanding third party management requirements, Hiperos 3PM™ has become the industry’s most widely used SaaS-based solution. The winner of industry awards and accolades for the proven value and low cost of ownership it delivers, Hiperos 3PM™ enables companies to protect their brand and revenues by implementing an automated, consistent approach to third party onboarding, measurement, monitoring and controls, throughout their lifecycle. Hiperos’ clients include many of the world’s leading companies such as Aetna, Alcoa, AON, Arrow Electronics, Astra Zeneca, AXA, Baker Hughes, Bank of Montreal, CA Technologies, Charles Schwab, Fulton Bank, Halliburton, Huntington Bank, JLL, Kellogg, Kraft Foods, Mondelez, Microsoft, News Corporation, NY Community Bancorp, Peabody, PNC Bank, Rockwell Automation, Sun Life Financial, State Street, TD Bank, United Technologies and Zion’s Bank. For more information, visit http://www.hiperos.com.