iSignthis Ltd Stock Market Press Releases and Company Profile
Web Shield & iSignthis to deliver unified KYB & UBO KYC
Web Shield & iSignthis to deliver unified KYB & UBO KYC

Melbourne, Oct 18, 2017 AEST (ABN Newswire) - Australian Securities and Frankfurt Stock Exchange cross listed iSignthis Ltd (googlechartASX:ISX) (googlechartTA8:FRA), the global leader in RegTech for identity verification, is pleased to announce that it has executed an agreement to integrate its Paydentity(TM) UBO Service with Web Shield Ltd's InvestiGate platform.

Highlights:

- Web Shield's Know Your Customer Corporate/Business (KYCB) InvestiGate Platform to feature Know Your Customer (KYC) for individual UBO's, PSC's and Directors

- iSignthis Service to be enabled for all Web Shield customers globally from Nov 2017

- Web shield will actively promote iSignthis Paydentity through the InvestiGate platform to existing and new customers.

Web Shield is a world leader in Know Your Customer Corporate/Business (KYCB) Customer due diligence services, which focusses verifying legally incorporated entities, corporations, clubs, trusts and associations. Each of these entities will ultimately have one or more natural person behind them, who also needs to be identified and verified. The InvestiGate platform currently identifies the natural person, but does not incorporate KYC services that can verify the individual natural persons who comprise the Ultimate Beneficial Owners (UBO), Persons of Significant Control (PSC) or directors of the entities being subjected to due diligence by its customers.

iSignthis integration to Web Shield's platform will allow InvestiGate customers to also benefit from the unique Paydentity(TM) KYC Solution, whereby the unification of KYCB and KYC individual will be a world's first to offer complete end to end customer due diligence services automatically. Verification of natural persons has until now been a largely manual process, that requires extensive time and persistence to complete.

Web Shield is an official MasterCard Merchant Monitoring Service Provider (MMSP), and serves the global market of acquiring banks and payment service providers. Web Shield currently serves over 140 clients all around the globe, with their current customer base mainly in the US, UK, Europe and the CIS countries.

"We saw the exceptional work done by iSignthis on Paydentity(TM) and instantly knew that we had to integrate it into our InvestiGate underwriting platform," said Web Shield CEO and Founder Christian Chmiel. "This partnership provides our customers with another valuable tool to mitigate risk in their merchant portfolio. Whilst Web Shield has been a global company from the beginning, the ideas behind its solutions were first developed in the Compliance departments of Germany's expanding merchant acquirers of the late 2000's. Today, Web Shield counts the majority of Germany's international acquiring business and globally-minded payment service providers among their customers - which was one of the deciding factors for moving its headquarters to Leipzig in 2015."

iSignthis CEO John Karantzis said, "We are delighted to be delivering wholesale identity services to Web Shield. Paydentity(TM) solves the verification problem of UBO/PSC's globally, and together with InvestiGate, forms the worlds most advanced customer due diligence platform, targeting natural and legal entities. The partnership with Webshield is strategic, allowing iSignthis to deliver core product into an adjacent market sector, as well as establishing a means to penetrate the German market."

John Karantzis further said "The 4th Anti-Money Laundering Directive (4AMLD) now includes a requirement to verify UBO's and PSC's typically after they have been identified as being associated with an entity by Webshield or other means. This is a new requirement that incorporates AML regulated sector businesses including marketplaces, trading sites, payment service providers, acquiring banks, and law and audit firms. Verifying the UBO/PSC, which is a new requirement under the 4AMLD, would take several days effort, and it can now be done in less than five minutes. This revolution in cost reduction and time saving is made possible by the Paydentity(TM) solution."

Since the 2011 Financial Crises US banks alone have incurred compliance fines of approximately US$119 Bn whereas the total global market for KYC for business compliance is thought to be US$70Bn (Source googlechartASX:KYK)

About Web Shield (www.webshield.com)

Web Shield's mission is to identify criminal or non-compliant traders in your portfolio and protect them from problematic new customers.

Our high-precision digital investigation tools InvestiGate and PULSE enable financial institutions, acquiring banks and payment service providers to make sound onboarding decisions and alert you if existing customers are questionable.

Our software-as-a-service solutions show where risky situations arise and your best options when it comes to effective risk reduction - to save you time and money.

Web Shield is an official Mastercard Merchant Monitoring Service Provider.

To view the German release, please visit:
http://abnnewswire.net/lnk/ZOZEP65J


About iSignthis Ltd

iSignthis LtdiSignthis Ltd (ASX:ISX) (FRA:TA8) is a hybrid monetary financial institution and also a RegTech leader in remote identity verification, payment authentication with deposit taking, transactional banking and payment processing capability. iSignthis provides an end-to-end on-boarding service for merchants, with a unified payment, electronic money and identity service via our Paydentity(TM) and ISXPay(R) solutions.

By converging payments and identity, iSignthis delivers regulatory compliance to an enhanced customer due diligence standard, offering global reach to any of the world's 4.2Bn 'bank verified' card or account holders, that can be remotely on-boarded to meet the Customer Due Diligence requirements of AML regulated merchants in as little as 3 to 5 minutes. Paydentity(TM) has now onboarded and verified more than 1.5m persons to an AML KYC standard.

iSignthis Paydentity(TM) service is the trusted back office solution for regulated entities, allowing merchants to stay ahead of the regulatory curve, and focus on growing their core business. iSignthis' subsidiary, iSignthis eMoney Ltd, trades as ISXPay(R), and is an EEA authorised eMoney Monetary Financial Institution, offering card acquiring in the EEA, and Australia.

ISXPay(R) is a principal member of Mastercard Inc, Diners, Discover, (China) Union Pay International and JCB International, an American Express aggregator, and provides merchants with access to payments via alternative methods including SEPA, Poli Payments, Sofort, PRZ24 and others.

Probanx Solutions Ltd, a wholly owned subsidiary of iSignthis Ltd, provides API based access to CORE Banking solutions, SEPA Core, SEPA Instant and SEPA business scheme, for neobanks, banks, credit unions and emoney institutions, and provides a bridge to the Eurosystem's Central Bank of Lithuania's CENTROLink service.

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Contact

Media: contact@isignthis.com

Investor Relations
Chris Northwood
Activ8Capital
T: +61-458-809-177
E: cnorthwood@activ8capital.com.au



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