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 onboarding system, allowing FxNet to meet the stringent KYC requirements and demands of CySEC and the European Union’s 4th AML Directive (“4AMLD”). 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 Cyprus’ CySEC (Cyprus Securities & Exchange Commission). The company is also registered with the United Kingdom’s - FCA (Financial Conduct Authority), Germany’s BaFin (Bundesanstalt für
Finanzdienstleistungsaufsicht), France’s ACP (Autorite de Controle Prudentiel), Spain’s CNMV (The Comisión Nacional del Mercado de Valores), The Netherlands AFM (Autoriteit Financiële Markten), and Norway’s FINANSTILSYNET (Financial Supervisory Authority of Norway).
The iSignthis service opens up the potential customer market for FxNet to any of the world’s financially included persons resident in FATF or MONEYVAL member countries (or equivalents). Once the iSignthis service has been integrated with FxNet’s 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.