{"id":835635,"date":"2025-04-09T10:35:33","date_gmt":"2025-04-09T14:35:33","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/hub-cyber-security-wins-e20-million-contract-to-lead-banking-modernization-for-prestigious-financial-institution-in-europe\/"},"modified":"2025-04-09T10:35:33","modified_gmt":"2025-04-09T14:35:33","slug":"hub-cyber-security-wins-e20-million-contract-to-lead-banking-modernization-for-prestigious-financial-institution-in-europe","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/hub-cyber-security-wins-e20-million-contract-to-lead-banking-modernization-for-prestigious-financial-institution-in-europe\/","title":{"rendered":"HUB Cyber Security Wins \u20ac20 Million Contract to Lead Banking Modernization for Prestigious Financial Institution in Europe"},"content":{"rendered":"<div class=\"mw_release\">\n<p>TEL AVIV, Israel, April  09, 2025  (GLOBE NEWSWIRE) &#8212; HUB Cyber Security Ltd. (NASDAQ: HUBC) (\u201cHUB\u201d or the \u201cCompany\u201d), 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 \u201cBank\u201d) to execute a comprehensive \u20ac20 million digital banking and infrastructure modernization initiative (the \u201cProject\u201d). 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.<\/p>\n<p>HUB\u2019s secure, on-premise infrastructure model was chosen for its strategic alignment with San Marino\u2019s evolving regulatory landscape, coupled with its cost-effective, OPEX-driven financial approach. This landmark initiative aims to revolutionize the Bank\u2019s core technology ecosystem &#8212; encompassing regulatory compliance, advanced cybersecurity, data center modernization, and a full overhaul of its core, mobile, and online banking platforms &#8211; using HUB\u2019s secured data fabric solution.<\/p>\n<p>Noah Hershcoviz, CEO of HUB, stated: \u201cWe are honored to be selected by this prestigious European financial institution to lead its transformative initiative. This contract represents a key milestone in HUB\u2019s 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.\u201d<\/p>\n<p>\n        <strong>About HUB Cyber Security Ltd.<\/strong>\n      <\/p>\n<p>HUB Cyber Security Ltd (\u201cHUB\u201d) was established in 2017 by veterans of the elite intelligence units of the Israeli Defense Forces. The Company specializes in advanced cybersecurity solutions that protect sensitive commercial and government information. HUB\u2019s offerings include encrypted computing technologies that prevent hardware-level intrusions and innovative data theft prevention solutions. Operating in over 30 countries, HUB serves a diverse client base with its cutting-edge cybersecurity appliances and services.<\/p>\n<p>\n        <strong>Forward-Looking Statements<\/strong>\n      <\/p>\n<p>This press release contains forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are typically identified by words such as \u201cplan,\u201d \u201cbelieve,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cintend,\u201d \u201coutlook,\u201d \u201cestimate,\u201d \u201cfuture,\u201d \u201cforecast,\u201d \u201cproject,\u201d \u201ccontinue,\u201d \u201ccould,\u201d \u201cmay,\u201d \u201cmight,\u201d \u201cpossible,\u201d \u201cpotential,\u201d \u201cpredict,\u201d \u201cseem,\u201d \u201cshould,\u201d \u201cwill,\u201d \u201cwould\u201d and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking.<\/p>\n<p>The forward-looking statements are based on the current expectations of the management of HUB Security, as applicable, and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties, or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those discussed and identified in public filings made with the SEC by the HUB Security and the following: (i) significant uncertainty regarding the adequacy of HUB Security\u2019s liquidity and capital resources and its ability to repay its obligations as they become due; (ii) the war between Israel and Hamas, which may harm Israel\u2019s economy and HUB Security\u2019s business; (iii) expectations regarding HUB Security\u2019s strategies and future financial performance, including its future business plans or objectives, prospective performance and opportunities and competitors, revenues, products and services, pricing, operating expenses, market trends, liquidity, cash flows and uses of cash, capital expenditures, and HUB Security\u2019s ability to invest in growth initiatives and pursue acquisition opportunities; (iv) the outcome of any legal or regulatory proceedings against HUB Security in connection with our previously announced internal investigation or otherwise; (v) the ability to cure and meet stock exchange continued listing standards and remain listed on the Nasdaq; (vi) competition, the ability of HUB Security to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (vii) limited liquidity and trading of HUB Security\u2019s securities; (viii) geopolitical risk, including military action and related sanctions, and changes in applicable laws or regulations; (ix) the possibility that HUB Security may be adversely affected by other economic, business, and\/or competitive factors; (i) other risks and uncertainties set forth in the sections entitled \u201cRisk Factors\u201d and \u201cCautionary Statement Regarding Forward-Looking Statements\u201d in HUB Security\u2019s Annual Report on Form 20-F\/A filed on October 22, 2024.<\/p>\n<p>Should one or more of these risks or uncertainties materialize or should any of the assumptions made by the management of HUB Security prove incorrect, actual results may vary in material respects from those expressed or implied in these forward-looking statements.<\/p>\n<p>All subsequent written and oral forward-looking statements concerning the business combination or other matters addressed in this press release and attributable to HUB Security or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in the press release. Except to the extent required by applicable law or regulation, HUB Security undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date of this press release to reflect the occurrence of unanticipated events.<\/p>\n<p>\n        <strong>Investor Relations:\u00a0<br \/><\/strong>Lytham Partners <br \/>Ben Shamsian <br \/>646-829-9701 <br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=xsz_DmVYfvGCYawP_upRU5PgSHZRQk4NeKLMnGdSvqyUOFcqh9JqE1GCHB2Z5uzZ62QfIWMEUliII6Hh_aBLooAn85OUddlZ62A5K-4rb2X_tGHPzAIaiRS38qfOsHEo\" rel=\"nofollow\" target=\"_blank\">shamsian@lythampartners.com<\/a>\u00a0<\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTQxOTU5OCM2ODU4NzExIzIyNTY1MTI=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/OTEzMzM4ZDEtYTdmNS00ZGQ3LWJlOTMtNGZkMzM3OWQ0YTlkLTEyNjgwNjEtMjAyNS0wNC0wOS1lbg==\/tiny\/HUB-Security.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>TEL AVIV, Israel, April 09, 2025 (GLOBE NEWSWIRE) &#8212; HUB Cyber Security Ltd. (NASDAQ: HUBC) (\u201cHUB\u201d or the \u201cCompany\u201d), 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 \u201cBank\u201d) to execute a comprehensive \u20ac20 million digital banking and infrastructure modernization initiative (the \u201cProject\u201d). 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\u2019s secure, on-premise infrastructure model was chosen for its strategic alignment with San Marino\u2019s evolving regulatory landscape, coupled with its cost-effective, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/hub-cyber-security-wins-e20-million-contract-to-lead-banking-modernization-for-prestigious-financial-institution-in-europe\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;HUB Cyber Security Wins \u20ac20 Million Contract to Lead Banking Modernization for Prestigious Financial Institution in Europe&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-835635","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>HUB Cyber Security Wins \u20ac20 Million Contract to Lead Banking Modernization for Prestigious Financial Institution in Europe - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/hub-cyber-security-wins-e20-million-contract-to-lead-banking-modernization-for-prestigious-financial-institution-in-europe\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HUB Cyber Security Wins \u20ac20 Million Contract to Lead Banking Modernization for Prestigious Financial Institution in Europe - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"TEL AVIV, Israel, April 09, 2025 (GLOBE NEWSWIRE) &#8212; HUB Cyber Security Ltd. (NASDAQ: HUBC) (\u201cHUB\u201d or the \u201cCompany\u201d), 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 \u201cBank\u201d) to execute a comprehensive \u20ac20 million digital banking and infrastructure modernization initiative (the \u201cProject\u201d). 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\u2019s secure, on-premise infrastructure model was chosen for its strategic alignment with San Marino\u2019s evolving regulatory landscape, coupled with its cost-effective, &hellip; Continue reading &quot;HUB Cyber Security Wins \u20ac20 Million Contract to Lead Banking Modernization for Prestigious Financial Institution in Europe&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/hub-cyber-security-wins-e20-million-contract-to-lead-banking-modernization-for-prestigious-financial-institution-in-europe\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-04-09T14:35:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTQxOTU5OCM2ODU4NzExIzIyNTY1MTI=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/hub-cyber-security-wins-e20-million-contract-to-lead-banking-modernization-for-prestigious-financial-institution-in-europe\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/hub-cyber-security-wins-e20-million-contract-to-lead-banking-modernization-for-prestigious-financial-institution-in-europe\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"HUB Cyber Security Wins \u20ac20 Million Contract to Lead Banking Modernization for Prestigious Financial Institution in Europe\",\"datePublished\":\"2025-04-09T14:35:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/hub-cyber-security-wins-e20-million-contract-to-lead-banking-modernization-for-prestigious-financial-institution-in-europe\\\/\"},\"wordCount\":899,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/hub-cyber-security-wins-e20-million-contract-to-lead-banking-modernization-for-prestigious-financial-institution-in-europe\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=OTQxOTU5OCM2ODU4NzExIzIyNTY1MTI=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/hub-cyber-security-wins-e20-million-contract-to-lead-banking-modernization-for-prestigious-financial-institution-in-europe\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/hub-cyber-security-wins-e20-million-contract-to-lead-banking-modernization-for-prestigious-financial-institution-in-europe\\\/\",\"name\":\"HUB Cyber Security Wins \u20ac20 Million Contract to Lead Banking Modernization for Prestigious Financial Institution in Europe - 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(NASDAQ: HUBC) (\u201cHUB\u201d or the \u201cCompany\u201d), 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 \u201cBank\u201d) to execute a comprehensive \u20ac20 million digital banking and infrastructure modernization initiative (the \u201cProject\u201d). 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\u2019s secure, on-premise infrastructure model was chosen for its strategic alignment with San Marino\u2019s evolving regulatory landscape, coupled with its cost-effective, &hellip; Continue reading \"HUB Cyber Security Wins \u20ac20 Million Contract to Lead Banking Modernization for Prestigious Financial Institution in Europe\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/hub-cyber-security-wins-e20-million-contract-to-lead-banking-modernization-for-prestigious-financial-institution-in-europe\/","og_site_name":"Market Newsdesk","article_published_time":"2025-04-09T14:35:33+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTQxOTU5OCM2ODU4NzExIzIyNTY1MTI=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/hub-cyber-security-wins-e20-million-contract-to-lead-banking-modernization-for-prestigious-financial-institution-in-europe\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/hub-cyber-security-wins-e20-million-contract-to-lead-banking-modernization-for-prestigious-financial-institution-in-europe\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"HUB Cyber Security Wins \u20ac20 Million Contract to Lead Banking Modernization for Prestigious Financial Institution in Europe","datePublished":"2025-04-09T14:35:33+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/hub-cyber-security-wins-e20-million-contract-to-lead-banking-modernization-for-prestigious-financial-institution-in-europe\/"},"wordCount":899,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/hub-cyber-security-wins-e20-million-contract-to-lead-banking-modernization-for-prestigious-financial-institution-in-europe\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTQxOTU5OCM2ODU4NzExIzIyNTY1MTI=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/hub-cyber-security-wins-e20-million-contract-to-lead-banking-modernization-for-prestigious-financial-institution-in-europe\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/hub-cyber-security-wins-e20-million-contract-to-lead-banking-modernization-for-prestigious-financial-institution-in-europe\/","name":"HUB Cyber Security Wins \u20ac20 Million Contract to Lead Banking Modernization for Prestigious Financial Institution in Europe - 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