XM.com to implement iSignthis Digital KYC for enhanced due diligence (ASX : ISX)

Company Name: iSignthis

Announcement Date: 07/07/2016
Announcement Category: Contract/Partnership
Announcement Content:

Highlights:
• iSignthis executes agreement with leading global online currency trading platform, XM.COM
• iSignthis Digital KYC service to be made available to all XM.com customers from mid to late 2016
• iSignthis service provides enhanced due diligence per EC 4th AML Directive requirements, June 2016 CySec regulatory update and other FATF model jurisdictions

Cyprus, 7th July 2016 - iSignthis Ltd (ASX : ISX) is pleased to announce that it has entered into an agreement with one of the industry leaders in online Forex and CFD trading, XM.COM.

iSignthis will integrate with XM.COM to deliver its enhanced due diligence Digital KYC service. The iSignthis service will provide XM.COM with a user friendly, automated customer onboarding system, allowing XM.com to meet the stringent KYC requirements of CySec and the EU’s 4th AML Directive (“4AMLD”). The 4AMLD is set to come into effect in June 2017 within the EU.

The iSignthis service opens up the potential customer market for XM.COM to any of the worlds 3.5Bn financially included persons, with XM able to onboard customers who elect to pay by credit or debit card within minutes.

With over 500,000 clients since it was founded in 2009, XM has grown to a large and well established international investment firm, and has become a true industry leader. XM is headquartered in Cyprus with global operations.

iSignthis Managing Director Mr. N J (John) Karantzis commented “We are delighted to reach agreement with XM.COM, enabling XM to take advantage of iSignthis’ world best practice online identity services. ”

The Company requests that the trading halt be lifted immediately.

Announcement URL: http://www.asx.com.au/asx/statistics/announcements.do?by=asxCode&asxCode=ISX&timeframe=D&period=M6
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 ISXPay® 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 world’s 4.2Bn ‘bank verified’ 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]