Probanx.com Acquisition - Core Banking Platform Business
Probanx.com Acquisition - Core Banking Platform Business
Melbourne, Sep 19, 2018 AEST (ABN Newswire) - Australian Securities Exchange and Frankfurt Stock Exchange cross listed iSignthis Ltd (ASX:ISX) (FRA:TA8), the leading payment and identity technology company (the "Company"), is pleased to announce that it has completed acquisition of 100% of the issued capital of Cyprus based, Probanx Information Systems Ltd ('Probanx").

Probanx (www.probanx.com) has been in operation for more than a decade, and services more than fifteen (15) prudentially regulated entities across the EU, Asia and North America, with regards to their core banking platform requirements.

Probanx revenue model is predominantly based upon a software licensing model with annual maintenance fees, with licensed software installed on local servers operated by the banking client. The Company expects that the Probanx revenue model can be readily adapted to also include a Software as a Service (SaaS) model, which can be hosted as part of the Company's secure cloud infrastructure. SaaS services command higher fees, as they are ready to use without the need for infrastructure and case by case certifications.

Probanx core banking services have recently been third party certified, and the Company intends to augment the Probanx offerings by adding its card processing modules as they become scheme certified later this year and next, including schemes such as Visa, Mastercard, JCB and others.

In addition to the future SaaS licensing opportunities around core banking and card processing SaaS, Probanx is a strategic acquisition for the Company as it provides proven and certified systems as follows;

- Core Banking Platform

- E-banking (Client Portal)

- Mobile Banking Application

- Loans & Mortgages Module

- Portfolio Management

- IBAN Validation API

- Integration between ATM and POS switches, and the CorePlus Banking System.

- Multi-Currency Accounting

- Supports English, French, German, Italian, Greek, Spanish and Hebrew

- Wire Payments - SWIFT, SEPA and Earthport Integration

The Company's EMA services will be integrated to the above certified services as soon as readily possible, allowing our business customers and merchants access to the rich features of the core banking platform. The Client portal will allow retail customers to view their ISXPay IBAN accounts online and via mobile.

Probanx shall operate as an independent business unit, sharing legal, treasury, and HR functions with the parent and sister companies, with Mr Chris Georgiou staying on as a director and managing the Company. Probanx is expected to deliver a positive EBIT contribution to the iSignthis group for FY2018.

The Company has acquired Probanx for EUR300,000 cash, with EUR100,000 in ISX ordinary shares due in six months, and an earn out commission against future receipted sales closed within the next three (3) months.

John Karantzis, CEO of iSignthis said "We are delighted to have concluded the acquisition of Probanx Information Systems, which we believe is an excellent addition to the overall iSignthis SaaS solution. ISXPay's certified Tier 1 card processing software will also conversely be available as a SaaS service from Probanx in due course, complementing the core banking offering and strengthening the value proposition to small banks and PSPs. The addition of a proven core banking platform will also allow our operating arm, ISXPay, to grow its eMoney Account (EMA) products rapidly, and to provide enhanced services to its customers."

Read more about the company at our website http://www.isignthis.com
and http://www.probanx.com


About iSignthis Ltd

iSignthis LtdiSignthis Ltd (ASX:ISX) (FRA:TA8) is the global RegTech leader in remote identity verification, payment authentication and payment processing. iSignthis provides an end-to-end on-boarding service for merchants, with a unified payment 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 3.5Bn 'bank verified' card or account holders, that can be remotely on-boarded to regulated merchants in as little as 3 to 5 minutes.

iSignthis Paydentity 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, Australia and New Zealand. ISXPay is a principal member of Visa Inc, Mastercard Worldwide and JCB, an American Express aggregator, and provides merchants with access to payments via alternative methods including Poli Payments, Sofort, Trustly, WeChat, AliPay and others.

Read more about the company at our website http://www.isignthis.com

For more information, please contact: contact@isignthis.com

      


Contact

For more information, please contact: contact@isignthis.com

iSignthis Ltd
T: +61-3-8640-0990
F: +61-3-8640-0953
E: investors@isignthis.com
WWW: www.isignthis.com



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