HUB Cyber Security Wins €20 Million Contract to Lead Banking Modernization for Prestigious Financial Institution in Europe
TEL AVIV, Israel, April 09, 2025 (GLOBE NEWSWIRE) — HUB Cyber Security Ltd. (NASDAQ: HUBC) (“HUB” or the “Company”), a global provider of cybersecurity and data protection solutions, today announced it has been selected by Cassa di Risparmio della Repubblica di San Marino S.p.A. (the “Bank”) to execute a comprehensive €20 million digital banking and infrastructure modernization initiative (the “Project”). The Bank is the oldest financial institution in San Marino. The Project remains subject to regulatory approvals and the execution of a definitive agreement. Subject to the foregoing, HUB expects to implement the Project by the end of 2025.
HUB’s secure, on-premise infrastructure model was chosen for its strategic alignment with San Marino’s evolving regulatory landscape, coupled with its cost-effective, OPEX-driven financial approach. This landmark initiative aims to revolutionize the Bank’s core technology ecosystem — encompassing regulatory compliance, advanced cybersecurity, data center modernization, and a full overhaul of its core, mobile, and online banking platforms – using HUB’s secured data fabric solution.
Noah Hershcoviz, CEO of HUB, stated:
We are honored to be selected by this prestigious European financial institution to lead its transformative initiative.
“This contract represents a key milestone in HUB’s strategic expansion into the regulated banking sector, reinforcing our position as a trusted partner in high-security, mission-critical environments. We view this as a long-term growth opportunity and look forward to delivering sustained value through innovation, operational excellence, and deep regulatory alignment.”
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HUB Cyber Security Wins €20 Million Contract to Lead Banking Modernization for Prestigious Financial Institution in Europe, source
