MSG Milestone Grp

 
TIDMMSG 
 
 
   MILESTONE GROUP PLC 
 
   ("Milestone" or the "Company") 
 
   Launch of New KYC Platform 
 
   Milestone (AIM: MSG), the AIM and Social Stock Exchange quoted provider 
of digital media, technology and social impact solutions announces that 
Black Cactus Holdings, its joint venture partner in Nexstar, a 
subsidiary of Milestone, has launched a KYC (Know your customer) and AML 
(Anti Money Laundering) platform. 
 
   The new platform is part of a fintech solution designed to be used by 
those organisations involved in banking, gaming, insurance and card 
programmes amongst others. The platform ties into a number of major 
global databases to carry out background checks on both individuals and 
Corporates, these include criminal records, financial & personal history, 
sex offender registries, employment and payroll services databases, 
insurance and all other KYC and AML requirements. 
 
   The new KYC and AML platform has been developed to significantly reduce 
the processing time for each full background check application from 
weeks to days, making it more business responsive. 
 
   The release of the product to the UK and European marketplace via 
Nexstar is to be accompanied by a marketing campaign commencing on 1st 
July 2017 with a mobile version scheduled to be released in August 2017, 
this will embed biometric capabilities and computer vision for facial 
recognition. Nexstar will charge clients a fee per case processed and an 
ongoing monthly fee, which will be determined separately for each client 
offering the Company an opportunity for immediate revenue generation. 
 
   The KYC platform has been designed to work on traditional banking and 
financial systems as well as new fintech technologies with a strong bias 
towards blockchain, hyperledger, cryptocurrency and internet of things 
following several years of development. 
 
   The product has been in development and pre-release in North America for 
the past year, and has been used by over 200 companies as part of that 
process. A list of these companies can be found at 
https://www.blackcactusholdings.com/kyc-aml 
 
   This platform has initially been created for the fintech sector, but 
with increased concerns over global security, is a landmark development 
bringing security checks and KYC into a real-time capability for all 
sectors, substantially expanding our potential market base for the 
product. 
 
   Deborah White, CEO of Milestone commented: 
 
   "The KYC platform, which will be marketed by Milestone Group and its 
subsidiary Nexstar is a significant leap forward for organisations 
globally keen to have the KYC processing time brought down from the 
current average of 3 weeks. Having the ability to process this in a 
matter of minutes, safe in the knowledge that the time reduction has 
also been made more secure through the use of hyper ledger, is expected 
to interest many organisations globally." 
 
   About KYC 
 
   Know Your Customer (KYC) is the process of a business identifying the 
identity of its clients. The term is also used to refer to the bank and 
anti-money laundering regulations that govern these activities. The 
objectives of KYC guidelines are to prevent banks from being 
intentionally or unintentionally used by criminal elements for money 
laundering activities. 
 
   About Nexstar 
 
   Nexstar, a joint venture entity between Milestone and Black Cactus, is a 
technology provider delivering fintech, blockchain, hyperledger, 
cryptocurrency and digital entertainment solutions. The Nexstar platform 
is designed to meet the needs of clients, offering access to unique 
financial technology, which has global regulatory as well as 
transactional (downloadable) content from a number of global providers. 
 
   This announcement contains inside information for the purposes of 
Article 7 of EU Regulation 596/2014. 
 
   For further information: 
 
 
 
 
Milestone Group PLC 
Deborah White, Chief Executive                   Tel: 0207 929 7826 
 
Cairn Financial Advisers LLP, Nominated Adviser 
Liam Murray/Sandy Jamieson                       Tel: 0207 213 0880 
 
Hybridan LLP, Broker 
Claire Louise Noyce                              Tel: 0203 764 2341 
 
Walbrook PR Limited, PR 
Gary Middleton/Paul Cornelius/Paul Whittington   Tel: 0207 933 8780 
 
 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Milestone Group PLC via Globenewswire 
 
 
  http://www.milestonegroup.co.uk/ 
 

(END) Dow Jones Newswires

June 22, 2017 02:00 ET (06:00 GMT)

Milestone Group (LSE:MSG)
Historical Stock Chart
From Dec 2024 to Jan 2025

Milestone Group (LSE:MSG)
Historical Stock Chart
From Jan 2024 to Jan 2025