Probanx Solutions & New Facilities
The Company intends to merge its technical teams from iSignthis eMoney Ltd, Authenticate Pty Ltd and Probanx Solutions Ltd into a single technical team in the new year. This initiative will allow the technical teams to be unified, resulting in greater efficiencies and increased responsiveness for clients.
The technical teams will operate as a separate business unit and profit centre, under the direction of ISX's Chief Technology Officer Mr Michael Andrewes. Probanx Solutions Executive General Manager Mr Chris Georgiou will head the business development and sales of the Company's product and Software as a Service ("SaaS") lines.
The new group will be able to offer unified sales and solutions of Paydentity(TM) KYC/KYCC IDVaaS, ISXPay(R) Major Card Scheme SaaS and Probanx(R) CorePlus CORE Banking platforms, integrated with the Baltic Banking Service SEPA Core, SEPA Instant SaaS.
The technical services will be marketed under "Probanx Solutions", and will be responsible for the development, support and maintenance of the Paydentity(TM), ISXPay(R) and Probanx(R) platforms.
Probanx Solutions will support ISX's European Economic Area authorised electronic money and payment service provider, iSignthis eMoney Ltd, and the Company's Australian payment service providers Authenticate Pty Ltd and iSignthis eMoney (AU) Pty Ltd, and all other future operating subsidiaries of the Company in other jurisdictions.
Probanx Solutions will also continue to support the Company's external customers, comprising banks, credit unions, electronic money institutions and payment service providers, and will operate and report as a separate profit centre.
The UAB Baltic Banking Service team will also merge into Probanx Solutions group at the conclusion of the earn-out period in February 2020.
The Company's total number of staff has increased by more than 75% in the past 12 months.
The Company now has 97 full-time employees with 41 technical personnel across Australia, Cyprus and Lithuania.
ISX has invested in new facilities in Cyprus to continue accommodating its growth, including EUR350,000 (~AUD$560,000) in investments, including new software tools and IT hardware, to bring its employees together in a single building and create an environment that will encourage the Company's growth to continue.
This restructuring initiative will also result in further technical roles in Australia, in order to support Probanx and the Company's growth through the Asia Pacific region.
About iSignthis Ltd
Australian Securities and Frankfurt Stock Exchange listed iSignthis Ltd (ASX:ISX) (FRA:TA8) is the global 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 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 Visa Inc, 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, Trustly, WeChat, AliPay and others.
UAB Baltic Banking Service, a wholly owned subsidiary of iSignthis Ltd, provides API based access to SEPA Core, SEPA Instant and SEPA business scheme, for neobanks, banks, credit unions and emoney institutions, and provides a bridge to the Central Bank of Lithuania's CENTROLink service.
Probanx Information Systems Ltd (Probanx(R)), a wholly owned subsidiary of iSignthis Ltd, is an international banking software company which has been serving the banking industry since the year 2000 by developing comprehensive banking software solutions to financial institutions around the globe. Probanx offers web-based banking solutions using the latest technology and international standard business rules. Our customers are located on five continents and supported from our technical centres in Europe and Australia.
iSignthis' Probanx delivers core banking software, including a fully comprehensive and versatile banking solution for retail, corporate and private banks, emoney and payment institutions, offering capabilities that up until now were affordable only by large commercial banks.
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