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- US$9.0M five-year agreement executed within Candescent’s financial infrastructure offerings
- Candescent serves more than 1,300 banks and credit unions representing over 30 million registered users
- US$1.8M annual revenue commitment, expected to contribute above Stakk’s FY2027 revenue milestone
- Another implemented commercial milestone following recent FBI and healthcare wins
Stakk (ASX: SKK) has landed another significant client win and growth milestone, with a US$9.0 million agreement with leading US financial infrastructure provider Candescent.
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Following its recent agreement to provide signature verification capabilities to the FBI and additional healthcare contract wins, Stakk is converting demand for its technology into live deployments and contracted revenue across multiple regulated industries.
Emiliano Giacchetti, CEO of Stakk IQ and ParaScript, said the Candescent milestone adds a five-year revenue commitment to that momentum, reinforcing the group’s execution, expanding its reach, and supporting the continued creation of shareholder value.
Candescent serves more than 1,300 banks and credit unions representing over 30 million registered users, with an ecosystem of more than 150 fintech partners. Its cloud- native Intelligent Banking Platform connects account opening, consumer and business banking, and digital and branch experiences. This scale and breadth make Candescent a major force in the modernisation of U.S. banking.
The agreement, entered into by wholly owned subsidiary ParaScript, delivers US$1.8 million annually through to 31 December 2030, with support included throughout the term.
Rollout is now complete, and Stakk’s AI- powered cheque and document intelligence is live, supporting in-branch, teller and back-office applications, including corporate remote deposit capture.
The agreement is expected to contribute modestly above Stakk’s FY2027 revenue milestone and significantly to FY2028 revenue outcomes. The relationship also provides a foundation for collaboration on further opportunities outside the signed contract.
Mr Giacchetti said together with the live signature verification deployment for use by the US Federal Bureau of Investigation and recent healthcare wins, Candescent demonstrates the breadth of demand for Stakk’s technology.
He added that across these sectors, the group is addressing critical requirements for accuracy, authenticity, automation and trusted decisioning – validating the strategic rationale for bringing Stakk and ParaScript together.
“It is a privilege to be part of Candescent’s journey in reshaping banking. Together, we are solving problems others have struggled to address—and delivering that capability at scale,” Mr Giacchetti said.
SKK was down 3.70% to 2.6¢. Mkt cap $117.3M.
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