Do any of you recall the contract with CIMB? Declared at over $4M value per year on a 3 year deal and subsequent to that, both parties walked away after about 6 months?
What does that mean? Well, iSentric at the moment is the only thing bringing in income (not allowing for dividend payments from IDSB). One of iSentric's main businesses is SMS messaging for their banking partners. Looks like this part of the business could come under pressure if other banks do the same. It's not the only thing that iSentric does, but if this was a business OVT was looking to sell once they got into BNPL, looks like it's value may be hurt significantly from this move away from SMS.
Alternatives like mobile tokens, biometric authentication, and multi-factor authentication (MFA) to enhance security are now the new norm. I wonder if iSentric is doing any of this? Based on revenue announced through quarterlies, it doesn't appear so. Below is a snapshot from March 2023, then March 2024 and then March 2025 quarterlies. I think everyone can see the trend and if this is so, is iSentric actually a business anyone would want to buy? The old BOD moved to a new data centre anticipating increased business. Looks like that's not happening based on the figures below.
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