This has been re-issued to accommodate the direction from the ASX (see end of this report).
Financial Analysis 1Q20
- 1Q20 is the Company's 4th quarter of positive operating cash flows,
- Cash balance at end of quarter was
- 1Q20 receipts from customers were down 33% from 4Q19 to
- Client funds held are now over
- The Company made a
- In the Quarter the Company completed the acquisition of UAB Baltic Banking Service for a total cost of
- Administration and corporate costs were up circa
- Cash flows in the quarter also include a
Business Activities 1Q20
- Probanx executed a
- Probanx mobilised key personnel to meet its obligations under the ClearPay JV agreement.
- Integrated UAB Baltic Banking Service team under "Probanx" banner.
- UAB Baltic Banking Service's SEPA Core and SEPA Instant services now integrated with Probanx COREPlus system. Available as a service by ISXPay under our Bank Institution Code (BIC) of ISEMCY22XXX.
- SEPA Instant also now available as a SaaS module to Probanx COREPlus third party financial institution customers.
- Injunctive relief was sought against the
- Enquiries for Probanx CORE banking and network products increased, with several (individually non-material) agreements executed with EU regulated entities.
- Flykk(R) app approved by
- Focus on enhancing AML compliance, including:
- Partnership agreement executed with Lexis Nexis, allowing the incorporation of Lexis Nexis data into our systems for resale to third parties consuming our Paydentity service or Probanx solutions.
- Paydentity(TM) cascade extended to include BankID from
- Integration completed to two key gaming platforms, extending our platform integrations beyond the exchange and trading platforms integrated during 2018.
- Due to the COVID-19 lock down requirements of Federal and State governments in
- COVID-19 impacted March revenues indirectly, with almost 3 weeks of processing time being lost. The Company failed to process transactions across a number of card schemes as a consequence of either the scheme itself being technically or commercially un-responsive, arrangements with the schemes being subject to further commercial or due diligence requirements, or the Company itself changing its systems without taking into consideration the impact on the scheme. By way of example, our PCI DSS certification, despite having been successfully audited and submitted to the relevant scheme on time, was not updated by one of the card schemes, leading to suspension of some processing services.
- Processing to merchants across the
- Other COVID-19 impacted matters include :
- Our Tier 1 Australian processing rollout being delayed and will not meet the
This is as yet to be rescheduled but is anticipated to be later in the year.
- SWIFT rollout has also been deferred, until such time as test slots will become available. The Company does not at this stage have visibility on expected dates.
- ASIC has advised that as a direct consequence of COVID-19, consideration of our application under Corporations Regulation
Update to Appendix 4C
In accordance with Listing Rules 18.8(a) and (b), ASX directs ISX to include in each quarterly activity report it gives to ASX under Listing Rule 4.7C, commencing with its quarterly activity report for the quarter ended
- Options/CFDs/FX
- Crypto/digital currency
- Online gambling
- Online video gaming
- Credit providers
- Travel services
- Other
1Q20 unaudited revenue was for the Group was
- Options/CFDs/FX - 11%
- Crypto/digital currency - 2%
- Online gambling - 1%
- Online video gaming - 60%
- Credit providers - 0%
- Travel services - 4%
- Other - 22%
To view full quarterly report with app. 4C, please visit:
https://abnnewswire.net/lnk/60LI713Y
About
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
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
ISXPay(R) is a principal member of
UAB Baltic Banking Service, a wholly owned subsidiary of
Contact:
Investor Relations
Investor Relations Director
chris.northwood@isignthis.com
+61 (0) 458 809 177
Media Enquiries
Director
mark.hawthorne@civicfinancial.com.au
+61 (0) 418 999 894
Investor Relations Europe
Dr
Friedrich Ebert Anlage 35-37
Tower 185
60327
e.reuter@dr-reuter.eu
+49 (0) 69 1532 5857
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