Annual Report to Shareholders
Letter from the Chairman
It is with great pleasure that I present the iSignthis Annual Report for 2018.
The past financial year has seen the Company continue to deliver on its core strategies and objectives in becoming the world leading hybrid Regtech and financial institution, for identity verification and payment services. It has evolved and strengthened its existing merchant relationships by offering a range of transactional banking services to the regulated market and leveraged the unique selling proposition of its patented services to enhance its reputation in the market place and deliver a unique suite of services and new revenue streams.
I am particularly pleased to look back on the major milestones that we have been able to announce throughout 2018. These have included;
- Significant revenue growth for the financial year (FY18$6.3m versus FY17$1.4m)
- Principal Membership in the major card schemes
- Additional partnership agreements with Worldline and Payvision
- Processing and settling funds as a licensed Electronic Money Institution in the European Economic Area
- Building our acquiring book (GPTV) to a contracted value in excess of AUD$600m
As the Company has grown and expanded into new territory in regard to the transactional banking services and products on offer to our merchants, the Board are constantly looking at evaluating the skills and experience required in order to meet regulatory requirements and strengthen the knowledge and strategic insight required as we move in to FY2019 and beyond. I am therefore delighted to welcome Christakis (Takis) Taoushanis to the Board of Directors. Takis brings a wealth of banking and payment industry experience to the Board and I am sure that he will make a valuable contribution in the coming years as we continue to develop in both Australia and Europe.
On behalf of the iSignthis Board of Directors, Management Team and dedicated employees, we would like to express our sincere appreciation to our shareholders. We look forward to sharing our success with you as we continue to grow.
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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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