Probanx it is then Tradie, good pick
Probanx.com Acquisition - Core Banking Platform Business
Melbourne, 19th September 2018 – Australian Securities Exchange and Frankfurt Stock Exchange cross listed iSignthis Ltd
(ASX : ISX | FRA : TA8), the leading payment and identity technology company (the “Company”
, is pleased to announce that
it has completed acquisition of 100% of the issued capital of Cyprus based, Probanx Information Systems Ltd (‘Probanx”
.
Probanx (
http://www.probanx.com) has been in operation for more than a decade, and services more than fifteen (15)
prudentially regulated entities across the EU, Asia and North America, with regards to their core banking platform
requirements.
Probanx revenue model is predominantly based upon a software licensing model with annual maintenance fees, with
licensed software installed on local servers operated by the banking client. The Company expects that the Probanx revenue
model can be readily adapted to also include a Software as a Service (SaaS) model, which can be hosted as part of the
Company’s secure cloud infrastructure. SaaS services command higher fees, as they are ready to use without the need for
infrastructure and case by case certifications.
Probanx core banking services have recently been third party certified, and the Company intends to augment the Probanx
offerings by adding its card processing modules as they become scheme certified later this year and next, including schemes
such as Visa, Mastercard, JCB and others.
In addition to the future SaaS licensing opportunities around core banking and card processing SaaS, Probanx is a strategic
acquisition for the Company as it provides proven and certified systems as follows;
• Core Banking Platform
• E-banking (Client Portal)
• Mobile Banking Application
• Loans & Mortgages Module
• Portfolio Management
• IBAN Validation API
• Integration between ATM and POS switches, and the CorePlus Banking System.
• Multi-Currency Accounting
• Supports English, French, German, Italian, Greek, Spanish and Hebrew
• Wire Payments – SWIFT, SEPA and Earthport Integration
The Company’s EMA services will be integrated to the above certified services as soon as readily possible, allowing our
business customers and merchants access to the rich features of the core banking platform. The Client portal will allow retail
customers to view their ISXPay IBAN accounts online and via mobile.
Probanx shall operate as an independent business unit, sharing legal, treasury, and HR functions with the parent and sister
companies, with Mr Chris Georgiou staying on as a director and managing the Company. Probanx is expected to deliver a
positive EBIT contribution to the iSignthis group for FY2018.
The Company has acquired Probanx for €300,000 cash, with €100,000 in ISX ordinary shares due in six months, and an earn
out commission against future receipted sales closed within the next three (3) months.
John Karantzis, CEO of iSignthis said “We are delighted to have concluded the acquisition of Probanx Information Systems,
which we believe is an excellent addition to the overall iSignthis SaaS solution. ISXPay’s certified Tier 1 card processing
software will also conversely be available as a SaaS service from Probanx in due course, complementing the core banking
offering and strengthening the value proposition to small banks and PSPs. The addition of a proven core banking platform
will also allow our operating arm, ISXPay, to grow its eMoney Account (EMA) products rapidly, and to provide enhanced
services to its customers.”
