Letter to Shareholders - Joint CEO ISX and NSX
Letter to Shareholders - Joint CEO ISX and NSX
Melbourne, Mar 13, 2020 AEST (ABN Newswire) - iSignthis Ltd ("ISX") announced its investment of $4.2m into NSX Ltd ("NSX") on the 20th February 2020.

The NSX is a competitor of the Australian Securities Exchange (ASX) and holds an equivalent Tier1 market operators license issued by the Australian Securities and Investment Commission (ASIC) to that of the ASX.

As part of that investment, the NSX and ISX agreed to form the ClearPay joint venture to compete with the ASX's monopoly clearing and settlement operation 'Austraclear', by means of a block chain enabled Delivery versus Payment (DvP) platform.

I'm excited about combining ISX's proven ability to integrate to trading platforms, DLT and payment systems to build a world class DvP platform for NSXA. Further, we look forward to offering different financial products to that of the ASX, whilst continuing to compete on company listings which will include a focus on companies in emerging FinTech sectors.

It was agreed with the board of the NSX that my appointment as interim CEO would allow the joint venture to be more efficient in delivering ClearPay. The intent is to also ensure that the new DvP platforms products, compliance, and operations are consistent with not only with the existing NSXA market licenced infrastructure but also designed to be operationally & regulatory compliant with other third-party financial market operators.

My role at the NSX is principally strategic, but I will also be responsible and accountable for the organisation as interim CEO. From an ISX perspective, my appointment means that I can focus on achieving results for both the NSX and ISX, as well as our shareholders, in a time efficient manner.

Delivery of ClearPay will require a 'start up' approach, and will be led by myself and ISX's CTO, Michael Andrewes. My appointment as interim CEO of the NSX is on an interim basis and will not impact my ISX role.

We intend to appoint an Operations Manager of the National Stock Exchange of Australia Ltd ("NSXA") (the operating subsidiary), to manage the day to day functions and the Tier 1 market operator license requirements. The existing NSXA team will continue to focus on ongoing operations, compliance and products, with strategic and performance oversight from myself, and market operations oversight remaining with the NSXA board and the independent listing and compliance committees per our license conditions.

Please be assured that delivery of shareholder value, for both ISX and NSX shareholders, is my primary objective by delivering competition into the Australian cash equity market.


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

Investor Relations
Chris Northwood
Investor Relations Director
iSignthis Limited
chris.northwood@isignthis.com
+61 (0) 458 809 177

Media Enquiries
Mark Hawthorne
Director
Civic Financial Communications
mark.hawthorne@civicfinancial.com.au
+61 (0) 418 999 894

Investor Relations Europe
Dr Eva Reuter
Friedrich Ebert Anlage 35-37
Tower 185
60327 Frankfurt
e.reuter@dr-reuter.eu
+49 (0) 69 1532 5857



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