Ten Lifestyle wins multi-year contract with 'premier' US bank

AIM-listed Ten Lifestyle has won a multi-year contract with one of America's "premier" private and business banks, headquartered in California, to provide concierge services to its high and ultra-high net-worth clients.

Ten, which has replaced the current provider following a competitive tender, said the first phase of the roll-out has been completed, with the offline concierge service offering already live.

As part of the contract, which is expected to generate annual net revenue of between £250,000 and £2m, Ten will provide members with a premium travel and lifestyle concierge service, including access to unique offers, benefits, and localised events, and to its digital platform.

Ten's Americas President Malcolm Berry said: "We are thrilled to have been chosen as a key partner here in the United States of America and are excited to be providing this major player with Ten's digital platform to give members the most relevant personalised information, through their preferred channel and with the ability to transact digitally, too."

At 1255 GMT, the shares were up 3.3% to 155p.