REG - Insig AI Plc - Contract win

Insig AiAnnouncement

30/09/2022 07:01

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RNS Number : 2540B  Insig AI Plc  30 September 2022

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30 September 2022

 

Insig AI plc

("Insig AI" or the "Company")

Contract win

Insig AI plc (AIM:INSG), the data science and machine learning solutions
company serving the asset management industry is pleased to announce a new
contract win.

The client, a London-based wealth manager, has signed a development contract
for delivery of a centralised cloud-based database and automated alerting
mechanism (the "Contract"). Using Insig AI's proprietary machine learning
models, the client will be alerted to specific company disclosures that are
designed to improve investment returns and generate alpha.

The terms of the Contract entitle Insig AI to a total consideration of
£200,000, with £50,000 payable on signing of the Contract and the remainder
payable across three instalments at certain stages of completion. It is
expected that the project will be completed by mid-January 2023.

Insig AI's Chief Executive, Colm McVeigh commented: "Progressive asset
managers appreciate not only the competitive advantage of utilising our
machine learning solutions but the ability to improve investment returns
without increasing risk. This contract win is a good example of how the
enormous array of company sourced disclosures now within our repository can be
accessed to target specific financial information."

For further information, please visit www.insg.ai (http://www.insg.ai/)  or
contact:

 Insig AI plc                                          Via SEC Newgate

 Colm McVeigh (CEO)
 Zeus (Nominated Adviser & Broker)                     Tel: +44 (0) 20 3829 5000

 David Foreman / James Hornigold / Danny Philips

 SEC Newgate (Financial PR)                            Tel: +44 (0) 7540 106 366

 Robin Tozer                                           Email: insigai@secnewgate.co.uk

 

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