Company Name: iSignthis
Announcement Date: 12/07/2016
Announcement Category: Contract/Partnership
Announcement Content:
Highlights:
⢠iSignthis executes agreement with global online currency (Forex), shares and commodities (CFDs) broker, FxNet Ltd.
⢠The iSignthis Digital KYC service is available for rapid, automated customer on-boarding.
⢠The iSignthis service provides enhanced due diligence as per ECâs 4th AML Directive requirements as well as the June 2016 CySEC regulatory update.
⢠Integration is set to be completed within 10 weeks, allowing commercial services to commence shortly thereafter.
Cyprus, 12th July 2016 - iSignthis Ltd (ASX : ISX) is pleased to announce that it has entered into an agreement with online Forex and CFD broker, FxNet Ltd.
FxNet Ltd is a global Forex award winning broker which offers online trading services to clients in over 100 countries, including Islamic, Multi-Account Manager and Corporate trading accounts.
FxNet will integrate with iSignthis over the coming two and half months in order to take advantage of the iSignthis enhanced due diligence Digital KYC service. The iSignthis service provides its clients with a user friendly, automated customer on-boarding system, allowing FxNet to meet the stringent KYC requirements and demands of CySEC and the European Unionâs 4th AML Directive (â4AMLDâ). The 4AMLD is now likely to come into effect in the EU by 1st January 2017; six months earlier than the original date.
FxNet is regulated by the stringent EU AML requirements by Cyprusâ CySEC (Cyprus Securities & Exchange Commission). The company is also registered with the United Kingdomâs - FCA (Financial Conduct Authority), Germanyâs BaFin (Bundesanstalt fĂźr Finanzdienstleistungsaufsicht), Franceâs ACP (Autorite de Controle Prudentiel), Spainâs CNMV (The ComisiĂłn Nacional del Mercado de Valores), The Netherlands AFM (Autoriteit FinanciĂŤle Markten), and Norwayâs FINANSTILSYNET (Financial Supervisory Authority of Norway).
The iSignthis service opens up the potential customer market for FxNet to any of the worldâs financially included persons resident in FATF or MONEYVAL member countries (or equivalents). Once the iSignthis service has been integrated with FxNetâs systems, the broker will be at an advantage as they will be able to onboard customers in minutes, where they elect to pay by credit or debit card.
Announcement URL: http://www.asx.com.au/asxpdf/20160712/pdf/438hxsczgn2jvf.pdf
About iSignthis:
Australian Securities and Frankfurt Stock Exchange listed iSignthis Ltd (ASX : ISX / FRA : TA8) is the only neobank focussed on making business banking simpler. We are the global leader in remote identity verification, payment authentication and payment processing to meet AML/CFT requirements. iSignthis provides an end-to-end on-boarding service for merchants, with unified deposit taking, IBAN accounts, payments, card acquiring and identity service via our Paydentity and ISXPayÂŽ solutions.
By converging payments and identity, iSignthis delivers regulatory compliance to an enhanced customer due diligence standard. We offer global reach to any of the worldâs 4.2Bn âbank verifiedâ card or account holders, that can be remotely on-boarded to regulated merchants in as little as 3 to 5 minutes.
iSignthis is the trusted back office solution for regulated entities, allowing our customers to stay ahead of the regulatory curve and focus on growing their core business.
We are a principal of Visa, Mastercard, JCB, ChinaUnionPay and AMEX.
Go to Company Profile for: iSignthis
Announcement Contact: [email protected]
