Change of Financial Year End Date to 31 December
Melbourne, April 24, 2018 AEST (ABN Newswire) - Australian Securities Exchange and Frankfurt Stock Exchange cross listed iSignthis Ltd (
ASX:ISX) (TA8:FRA), the world leading RegTech for identity verification and payment services, is pleased to announce that the Company has applied to the Australian Securities and Investment Commission (ASIC) to change its financial year from the Australian standard 1st July to 30th June to the European position of reporting on a calendar year basis.
iSignthis has received notification that ASIC have granted this request and plans are in place to transition our reporting during 2018.
The Company has made the change in financial year in accordance with section 323D (2A) of the Corporations Act 2001 (Cth). The Company confirms that;
- The Company's current financial year will end on 30 June 2018;
- The Company will have a six-month transitional financial year beginning on 1st July 2018 and ending on 31st December 2018; and
- Thereafter, the Company will revert to a twelve-month financial year, commencing on 1st January and ending on 31 December.
The change in reporting dates allows the Company to meet its European banking reporting requirements based on a calendar year without undergoing additional audits and the expense associated with the continual reporting. The Company's subsidiary, iSignthis eMoney Ltd, reports cash monthly under the European Central Bank and EU's 'Eurosystem' regulatory requirements.
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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