AGM-Managing Director & CFO Report
Melbourne, May 14, 2021 AEST (ABN Newswire) - iSignthis Ltd (
ASX:ISX) (TA8:FRA) is a technology company with EEA and UK financial institution authorisations with inhouse developed flykk(R), ISXPay(R), Paydentity(TM)(patented), Probanx(R) CorePLUS(R) and CoreConnect platforms that allow us to deliver technology and financial services to our customers.
We employ more than 125 staff located across Melbourne, Sydney, Vilnius, Nicosia, London, Amsterdam and Tel-Aviv.
Approximately half of our staff are technical, with more than 43% of our employees being women.
ISX is a:
- RegTech that invents and develops software delivered as a service for exchanges, banks, credit unions, financial institutions and payment service providers.
- UK and EEA authorised Monetary Financial and Payment Institution, that provides payments, issuance of electronic money, IBAN addressable stored value accounts and KYCC identity verification services to eCommerce merchants, regulated sector businesses and consumers.
ISX also operates a sophisticated & patented anti-money laundering and anti-fraud system that also provides transactional security to business and retail customers. It is real time and detects the AML issues currently in focus by regulators.
iSignthis is a provider of cloud based core banking & networking. The iSignthis technology group services financial institutions by offering a complete CORE banking software solution (CorePLUS(R)) together with CoreConnect networking.
The services are available as SaaS and upfront licensing.
During 2020 Probanx Solutions has executed more than 2m transactions processing more than EUR 4.75Bn.
What's unique about iSignthis?
Onboarding speed and reach. Paydentity can reach, identify, verify and take payment at the same time from 4.2 billion people, or 69% or the world's population. We massively improve conversions by use of automation.
Diversified payment choice. ISXPay is a principal member of major card schemes in the EU and/or Australia, including Mastercard, China UnionPay, Diners, Discover, JCB, and American Express, as well as a number of alternative payment methods (APM's).
Speed to payout. This is emerging as an important aspect for the customers of our financial services merchants. The ability to move funds quickly and to a variety of destination accounts is a critical selling point for merchants to their customers.
Multi-currency choice. We offer between 16 to 23 currencies natively to our merchants, so that they can accept and we will settle in the world's most popular currencies (with some exotics!).
- In 2020 the Group recorded its second annual profit of $1.36m, slightly lower than the $1.59m profit in 2019. The lower profit is largely due to higher income tax expense in 2020.
- Revenue from Customers increased by 22% to $36.29m, with growth mainly coming from regulated services in Europe.
- Expenses increased 20% in 2020 due to increased legal and advisory costs, combined with increased costs to support the Group's revenue growth.
- Funds held on behalf of merchants grew 2% in 2020 largely due to foreign exchange gains.
To view the full presentation, please visit:
https://abnnewswire.net/lnk/3Z69866H
About iSignthis Ltd
iSignthis Ltd (ASX:ISX) (FRA:TA8) is a hybrid monetary financial institution and also a RegTech leader in remote identity verification, payment authentication with deposit taking, transactional banking and payment processing capability. iSignthis provides an end-to-end on-boarding service for merchants, with a unified payment, electronic money and identity service via our Paydentity(TM) and ISXPay(R) solutions.
By converging payments and identity, iSignthis delivers regulatory compliance to an enhanced customer due diligence standard, offering global reach to any of the world's 4.2Bn 'bank verified' card or account holders, that can be remotely on-boarded to meet the Customer Due Diligence requirements of AML regulated merchants in as little as 3 to 5 minutes. Paydentity(TM) has now onboarded and verified more than 1.5m persons to an AML KYC standard.
iSignthis Paydentity(TM) service is the trusted back office solution for regulated entities, allowing merchants to stay ahead of the regulatory curve, and focus on growing their core business. iSignthis' subsidiary, iSignthis eMoney Ltd, trades as ISXPay(R), and is an EEA authorised eMoney Monetary Financial Institution, offering card acquiring in the EEA, and Australia.
ISXPay(R) is a principal member of Mastercard Inc, Diners, Discover, (China) Union Pay International and JCB International, an American Express aggregator, and provides merchants with access to payments via alternative methods including SEPA, Poli Payments, Sofort, PRZ24 and others.
Probanx Solutions Ltd, a wholly owned subsidiary of iSignthis Ltd, provides API based access to CORE Banking solutions, SEPA Core, SEPA Instant and SEPA business scheme, for neobanks, banks, credit unions and emoney institutions, and provides a bridge to the Eurosystem's Central Bank of Lithuania's CENTROLink service.
| ||
|
