iSignthis Ltd (ASX: ISX | FRA: TA8) (“The Company”) is pleased to announce that its two wholly owned technology subsidiaries, Probanx Ltd and UAB Baltic Banking Service (BBS), are now cooperating to deliver seamless CORE Banking (‘CorePlus’), SEPA and SWIFT interbank network technology (“CoreConnect”) to prospective customers.
The first customer to benefit from the integration of Probanx® CorePlus and BBS CoreConnect interbank Gateway is the Lithuanian licensed electronic money institution, Ibanera (www.ibanera.com ). Ibanera is licensed from and regulated by the Central Bank of Lithuania.
Ibanera’s main activity is the issuance, distribution and redemption of Electronic Money, whilst offering international corporate clients a range of financial solutions for managing funds and global payments.
Ibanera will be supplied the CorePlus system, including Internet banking module, SMS and email notifications, multi language pack, IBAN validation and integration to CoreConnect.
CoreConnect includes connectivity to the SEPA Core, SEPA Instant, SEPA Business and SWIFT interbank payment networks.
The service is due to go progressively live from early April 2019, and will contribute to revenues this financial year, with ongoing maintenance, support and operational fees.
The iSignthis group offers technology licensing of its probanx CorePlus Core banking platform and BBS CoreConnect interbank network, as well as ISXPay® managed card processing and settlement services as a Principal member of Visa, Mastercard, JCB, Diners, Discover and ChinaUnionPay.
iSignthis Lithuanian Expansion The Company has identified further opportunities in Lithuania, with plans to expand its local workforce to take advantage of the opportunities for the BBS CoreConnect service, as well as the obvious synergy between Probanx CorePlus, ISXPay® and Paydentity™.
The Company has also engaged with “Invest Lithuania” (https://investlithuania.com/), the Lithuanian Government’s advisory service with regards to the availability of R&D and investment grants. Lithuania has a highly skilled workforce with an attractive employer and commercial framework for companies such as iSignthis seeking to take advantage of the FinTech hub.
The Lithuanian operation will be managed by Raimundas Maciulevicius (Director & EGM) (firstname.lastname@example.org ), who has joined the Company’s executive team as part of the acquisition of UAB Baltic Banking Services.
We also welcome Evaldas Stonkus (email@example.com) to the Company’s Probanx Sales team, with a focus on CorePlus, CoreConnect, PayPlus and DocPlus services.
The BBS team will expand CoreConnect to include UK Faster Payments and Australia’s New Payments Platform (NPP) during this financial year.