Probanx Coreplus core banking & APRA CPS234
Probanx Coreplus core banking & APRA CPS234
Melbourne, Feb 7, 2019 AEST (ABN Newswire) - iSignthis Ltd (ASX:ISX) (FRA:TA8) ("The Company") is pleased to announce that it has received communications from its auditors Grant Thornton Australia Ltd and its IT Security Auditors, Security Centric Pty Ltd ("the Auditors"), regarding the use of the Probanx Coreplus core banking platform in Australia to satisfy its ADI operations and APRA requirements.

Highlights

- iSignthis eMoney (AU) Pty Ltd ADI application ongoing/progressing

- Probanx.com CorePlus assessed by Grant Thornton & Security Centric

The reports received from the Auditors have been submitted to the Australian Prudential Regulation Authority (APRA) as part of the application process that is currently ongoing/progressing by iSignthis eMoney (AU) Pty Ltd for an Authorised Deposit-taking Institution (ADI) license.

All APRA regulated entities must adhere to CPS 234 by 1st July 2019, with third party verification of an operative and compliant core banking system being a key milestone towards achieving ADI licensing.

On the basis of the foregoing, the Company advises that its ADI application is progressing well, with only minor matters remaining to be addressed. The Company is of the view that the license issue remains on target for early Q2 2019.

Probanx & APRA Prudential Standard CPS 234

Grant Thornton has completed an Independent validation of the Probanx.com CorePlus core banking system. Accordingly, the Company is satisfied that Probanx is 'fit for purpose', in that the system maintains fair and true records for financial obligations, the system calculates interest accurately and performs key functions as required.

Security Centric Pty Ltd (www.securitycentric.com.au) has also reviewed the Company's IT policies and procedures incorporating Probanx CorePlus and has assessed these against compliance with APRA's Prudential Standard CPS234 'Information Security'. Accordingly, the Company is satisfied that it has met its requirements in this regard.

Probanx is an alternative to Temenos T24, Oracle Flexcube and SAP Cloud core banking platforms. The Company is already third party audited and certified to Payment Card Industry Data Security Standard (PCI DSS) Level 1 by Security Centric, and BSI audited and certified to ISO27001 'Information Security Management'. The Company has also previously been audited by the major card schemes for PCI security and general compliance.


About iSignthis Ltd

iSignthis LtdAustralian 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.

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

For investor information, please contact: investors@isignthis.com

      


Contact

Media: contact@isignthis.com

Investor Relations
Chris Northwood
Activ8Capital
T: +61-458-809-177
E: cnorthwood@isignthis.works or investors@isignthis.com



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