IR $ISX’s transformation to a b2b neobank operating across the...

IR

$ISX’s transformation to a b2b neobank operating across the EU and Australia is almost complete!

It was a hectic quarter building out our various capabilities, including:

• Finalising our transactional banking network in the EU, which now includes Visa, Mastercard, JCB, and shortly Diners, Discover, Amex and ChinaUnionPay,
• deploying our core banking systems to the EU and Australia,
• working through our final APRA, ASIC and RBA requirements for ADI licensing,
• licensing Diners, Discover globally and ChinaUnionPay for EU and Australia,
• integrating the Probanx team and products into ISXPay® and Paydentity™,
• launching our IBAN issued and deposit taking capabilities in the EU,
• connecting to 4300 other banks via SEPA network, and
• making sure it all works as a seamless offering to our customers!

Sales and Operations were busy too – with new EMA customers and merchants for acquiring being contracted and prepared for onboarding.

Payment Services Directive 2
For those following the $ISX story for some time, the PSD2 is almost upon us. It was originally mooted to take effect in 2015, and will now finally become a requirement September 2018. That is, all card transactions will be subject to Strong Customer Authentication. Our proposition for SCA  is much stronger than what it was in 2015, and we expect to be announcing a major partnership fairly soon to tackle the large gap between regulation and solutions in the market.