Presentation - Canaccord Boston Growth Conference
Melbourne, Aug 11, 2016 AEST (ABN Newswire) - iSignthis Ltd (
ASX:ISX) are pleased to provide the Company's Presentation at the Canaccord Boston Growth Conference August 10 - 11th 2016.
Australia's only ASX listed RegTech, with payment processing capability, iSignthis automates AML/CTF KYC & transaction monitoring via its payments and identity processing platform for traditional and non traditional businesses.
iSignthis Ltd (ASX : ISX) - What will drive our growth?
1. Regulated Growth: Increasingly more stringent Regulation, such as the EC's 4AMLD and Payment Services Directive 2.
2. Online Transition: AML Regulated entities seeking to offer cross border services, and move away from localised face to face services.
3. Reach: CRA based services cover less than 9% of the world's population, whereas iSignthis dynamically reaches circa 51% of the world's (banked) population.
4. Mitigating Fraud Risk: Current manual or database KYC methods are not effective at mitigating electronic payment risk.
5. Enhanced Customer Value Proposition: Full Automation, dynamic, real time combination of payments and identity (paydentity(TM)) which delivers KYC and settled funds in parallel.
6. Additional Sectors: such as gaming, wagering, betting, digital currencies now regulated by full AML/CFT regulations in the EU.
Other opportunities: ISX expanding services and revenues
iSignthis has four core revenue streams available to it in the short and medium term.
Verify
The core of our patented process to verify identity for AML obligated financial institutions. ISX charges a fee for every identity verified.
Process
The 'Paydentity' service provided by ISX allows for Strong Customer Authentication to meet PSD2 requirements i.e. the transaction verification to authorise an online transaction. This service expands further to cover additional revenue opportunities in the card payment processing chain allowing ISX to become our customers;
- Payment Processor (Gateway): allows a merchant to accept payments by credit card.
- Acquirer: allows a merchant to collect funds from their customers.
ISX charges a fee for every transaction processed, authenticated and acquired.
Settle
A longer range (medium term) strategic play for iSignthis is to become a licensed settlement institution. Settlement being the exchange of funds between a card issuer and an acquiring institution (effectively completing the payment transaction). ISX has applied directly for an EU eMoney license which will enable it to become a settlement institution for transactions. This further expands the services available to be offered to our customers creating a stronger relationship and additional sources of revenue. Unlike our core services, the full acquiring and settlement initiative is a volume game with lower margins but an opportunity to settle a large number of transactions per day.
Issue
The EU e-money license will also allow ISX to potentially become a card issuer. This is a longer term initiative to potentially operate as a financial institution that offers credit or debit cards to users (the general public).
To view the full presentation, please visit:
http://abnnewswire.net/lnk/7HDP9SS9
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.
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