I have only a vague understanding of the ID8 technology but here are some thoughts. A lot depends on the scope of bank activities that they are targeting. At a basic level, I assume that banks have databases that include accounts, account holders, and transactions. They also exchange messages with counterparties, and provide reports to regulators such as Austrac. My guess is that for most banks the databases are in legacy format and hard to change. We also know that interbank messaging is moving to increasingly mandated but complicated standards such as ISO 2022 Earlier in my career I was involved in the deregulation of the electricity industry. in their case a handful of companies made very big money by building hubs and interconnectors for the inter company messaging which had to support open standards. However the internal databases were infernally complicated and it was hard to make a dollar adapting them. For what it's worth I hope ID8 has some offerings in the messaging space and the ability to offer adapters for different banks.
ID8 Price at posting:
3.7¢ Sentiment: Hold Disclosure: Held
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