Beeks Financial Cloud Group has secured more than $7m of new private cloud contracts in August.

These latest wins span multiple financial institutions across different geographies, with revenue recognition commencing in the current financial year.

The stock exchange update explained that strong trading last month followed a record month in June for Proximity Cloud contracts.

Private Cloud is the company's secure, low latency platform built for a single organisation, residing within the client’s data centre. Unlike the public cloud, where resources are shared with multiple tenants, a private cloud is exclusively built and operated for a single client.

Gordon McArthur, chief executive of Beeks, commented: “Demand for our offerings continues to build as financial institutions increasingly

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