Ten Lifestyle Group plc (AIM: TENG), a leading technology-enabled global concierge platform for the world’s wealthy and mass affluent, is pleased to announce that it has secured a multiple-year renewal of its contract with Barclays Bank UK plc, one of Ten’s longstanding corporate clients.
Ten’s concierge and lifestyle services, including Ten’s proprietary digital platform, will soon be made available to all Barclays Bank personal current account holders with the Barclays Travel Plus Pack. This will replace access to Ten’s services via the retiring Barclays Bank Home Pack product, which has been off-sale for a number of years.
The existing Medium1 contract is expected to grow as a result of the service being attached to an ‘on-sale’ banking product with a larger customer base.
This contract expansion is incorporated within the Group’s existing growth plan.
1 Ten categorises its corporate client contracts based on the annualised value paid, or expected to be paid, by the corporate client for the provision of concierge and related services by Ten as: Small contracts (below £0.25m); Medium contracts (between £0.25m and £2m); Large contracts (between £2m and £5m); and Extra Large contracts (over £5m). This does not include the revenue generated from suppliers through the provision of concierge services.