Brandshield secures three new business mandates

Brandshield said on Monday that the new mandates will see the company deploy its solutions to detect and shut down fraudulent websites duplicating its clients' existing websites, websites that imitate the clients by using similar domain names or logos and unauthorised mobile apps or fake social media pages.

The AIM-listed firm added that it had continued to witness a "high level of demand" for its software from the financial services sector, with its unique platform being "ideally placed" to detect threats that exist across multiple digital platforms.

Chief executive Yoav Keren said: "These wins are an excellent endorsement of both our solutions and capabilities, as we continue to build on our strong new business momentum across myriad sectors, demonstrating the very real need for our cybersecurity solutions.

"These three new customers all approached BrandShield directly with a unified problem which we are uniquely placed to neutralise. The clients, alongside almost anyone who chooses to have an online presence, have a clear need to protect their customers and their brand from fraudulent and counterfeit activities, which erode both goodwill and loyalty if left unchecked, and BrandShield is ideally placed to support them in this mission."

As of 1000 BST, Brandshield shares were up 4.53% at 17.90p.