Probanx Contracts Further Customers for Core Banking Service
Melbourne, Dec 17, 2019 AEST (ABN Newswire) - iSignthis Ltd (
ASX:ISX) (TA8:FRA) is pleased to announce that the Company's wholly owned technical services subsidiary, Probanx Solutions Ltd ("Probanx"), has finalized licensing and support agreements with two new unrelated entities, Management Financial Group and Currency One SA.
Management Financial Group (MFG) comprises leading companies specializing in the provision of non-banking financial services in Central and Eastern Europe.
Visit: https://managementfinancialgroup.com
MFG manages an extensive portfolio of successful endeavours in the field of consumer lending, financing of micro and small-sized enterprises, digital lending and other financial businesses models. The MFG companies employ over 7700 employees and consultants in over 450 offices in Bulgaria, Ukraine, Romania, Poland, and Macedonia. MFG brands include EasyCredit, iCredit, Verocash and ProspectCapital.
MFG will be supplied the CorePlus system, including the following modules and features:
- Cards Management Module - Integration with GPS Mode 2
- Probanx(R) Internal APIs
- Wire Payments Module
- Loan Management Module
The MFG service is due to go progressively live from early April 2020 and contribute to revenues, with ongoing maintenance, support and operational fees.
Currency One SA is an online currency exchange market in Poland. It was established as a result of merging the first currency peer-to-peer platform (www.walutomat.pl) with the first online currency exchange bureau (internetowykantor.pl), both of which enable users to exchange currencies quickly and safely.
Visit: https://currency-one.com/en/
Almost 600,000 users already trust Currency One SA, exchanging tens of millions of Euros, Dollars, British Pounds, Swiss Francs and other currencies on a monthly basis.
Currency One SA will be supplied the CoreConnect system, including the following modules and features:
- SEPA Credit Transfer (SCT)
o Secure and SEPA compliant file conversion and formation
o SEPA SCT Payments Schema Compliant
o Fully automated payment processing with IBAN and BIC
o Mass payments
o Data validation tools to validate BIC and IBAN
o Dictionaries control with payer and payee BICs validation
- SEPA Instant Credit Transfer (SCT Inst)
o Secure and SEPA compliant file conversion and formation
o SEPA INST Payments Schema Compliant
o Fully automated payment processing with IBAN and BIC
o Mass payments
o Data validation tools to validate BIC and IBAN
o Dictionaries control with payer and payee BICs validation
The services are due to go live from early February 2020 and will contribute to revenues next financial year (2020), with ongoing SaaS fees. Probanx licenses the CorePlus Core Banking platform comprising a setup/establishment fee in the range of EUR150,000 to 5,000,000 plus monthly Software-as-a-Service (SaaS) fees. ISO20022 based SEPA Core and Instant Credit Transfer (SCT) transactional processing services are charged at between 0.05EUR to 0.15EUR per transaction.
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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