FirstWave Cloud Technology (ASX:FCT) announced a competitive tender win with Banco Nacional de Obras y Servicios Públicos (Banobras), Mexico's state-owned development bank.
The two-year software subscription contract, valued at approximately US$250,000, marks a pivotal breakthrough for the Australian cybersecurity firm into the Latin American public sector.
The partnership will see FirstWave deploy its sophisticated AI-powered compliance management solution.
The platform integrates Open-Audit with NMIS, opConfig, and STM modules, providing the bank with automated oversight of its extensive digital infrastructure.
Banobras, currently ranked among Mexico’s top five financial institutions, plays a critical role in financing federal and municipal infrastructure projects.
This deal is a strategic validation of FirstWave’s high-margin growth model, as the subscription is delivered with no incremental cost, generating a 100% gross margin.
It also represents the first major success stemming from FirstWave’s partnership with OmniPrinter, a subsidiary of the influential Grupo Salinas conglomerate.
By securing this contract, FirstWave successfully executes the AI-focused strategy it introduced in 2025.
Executives view the Banobras agreement as a foundational reference point for the region, with potential for future scope expansion.
At the time of reporting, FirstWave Cloud Technology’s share price was $0.0060.