Maestrano goes live with major US banking customer

RNS Number : 2598H

Maestrano Group PLC

14 November 2018

 

14 November 2018

Maestrano Group PLC ("Maestrano" or the "Company")

Maestrano goes live with major US banking customer 

Maestrano Group PLC (AIM: MNO), the open cloud business integration platform with cross-app data synchronization, announces it has now successfully gone live with a platform for a major US based banking customer ("the US Bank").

This Maestrano platform is used by Enterprises to assemble and serve integrated suites of Cloud applications with value-adding data analytics to drive engagement with their small and medium sized ("SMB") customers. Maestrano has been working with the US Bank for almost a year developing new digital services using the Maestrano platform which allow increased functionality for SMB users.

The initiative has been introduced to the US Bank's customers with the first rollout now underway to a targeted initial audience. The engagement data from this first phase rollout will be analysed to help define subsequent stages as the initiative develops. Maestrano expects to collaborate with the US Bank to enhance functionality and user experience in support of driving ongoing adoption and usage.

Stephane Ibos, CEO of Maestrano, commented:

"This is a major milestone for Maestrano and we are delighted to be working collaboratively with such a prestigious US bank.  The commencement of live operations provides the opportunity to showcase our platform technology to a potentially huge customer base, as well as drive incremental revenues. This is potentially transformational for Maestrano and provides a significant opportunity for the Company.

Leading analysts such as McKinsey¹ report that banks that implement technology such as artificial intelligence, analytics and automation algorithms will enhance their value to customers by establishing an added personalised experience when using their services.  This is Maestrano's purpose and we look forward to reporting on the ongoing progress of the rollout of the US Bank's Maestrano-driven digital services in the months ahead."

1. "Remaking the bank for an ecosystem world", McKinsey & Company, Oct 2017.

Enquiries:

Maestrano Group plc Ian Buddery, Chairman Stephane Ibos, CEO Andrew Pearson, Deputy CEO	c/o IFC
Grant Thornton (Nominated Adviser) Colin Aaronson / Jamie Barklem	[phone]
Arden Partners (Broker) Ruari McGirr / Ciaran Walsh / Alex Penney	[phone]
IFC Advisory Limited (Financial PR & IR) Graham Herring / Miles Nolan / Zach Cohen [e-mail]     [e-mail]	[phone]

About Maestrano

Maestrano develops and deploys a patented cloud-based Platform as a Service that serves the needs of Small to Medium Businesses (SMBs) and large Enterprises (such as major banks and global accounting firms) to access real time, automated management data efficiently on an integrated platform.  This technology is called Master Data Management (MDM).

Further information on the Group is available at www.maestrano.com

 

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