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iSignthis Ltd (ASX:ISX) Validates Its Unique Digital KYC Service Against AML/CTF Regulations

Melbourne, Australia, Feb 23, 2016 - (ABN Newswire) - iSignthis Ltd (ASX:ISX.AX - News) (the "Company") is pleased to announce that the Company's remote Know Your Customer (KYC) service, paydentity, is suitable for use by businesses in the regulated sector of the Isle of Man (IoM), including betting / eGaming operators and financial services.

Highlights

- Isle of Man is a significant global independent financial hub

- Isle of Man is a centre for global gaming, betting and wagering companies

- Gaming companies in the Isle of Man turn over approx. $A 1.5 billion annually

- Over forty of the key global online gaming businesses are based in Isle of Man

- ISX digital KYC/AML service - "paydentity"- can now be actively offered to businesses in the regulated sector

The Company's Managing Director, Mr John Karantzis, and Sales Director, Mr Chris Henry, attended the Isle of Man to meet with senior representatives of the Manx Government, Regulators and Industry.

Mr Karantzis said "We are very excited at the range of opportunities available to the company after our visit to the Isle of Man. Discussions with government officials and key regulators demonstrating how the iSignthis paydentity service will be of mutual benefit to the numerous remote AML obligated services that operate on the Isle was well received. The Company's digital KYC process is ideally suited to the Manx AML regulations for both the financial and gambling sectors. This is consistent with the Isle of Man being one of the first jurisdictions in the world to introduce legislation specifically designed to benefit gambling and eGaming firms whilst fully protecting customers."

Mr Karantzis continued "iSignthis' methodology is to first ascertain the validity of our process against local regulatory requirements. In particular, we are focussed on major jurisdictions where online gaming, wagering, betting, trading and/or forex regulated businesses operate. We are satisfied that our process has been validated for use as a remote KYC analytical tool and service by Isle of Man regulated sector businesses, with the Isle of Man being one of the key jurisdictions for online services.

iSignthis has been validated in other jurisdictions including Gibraltar, Malta, the United Kingdom, United States, France, Italy and Australia. These jurisdictions represent a coverage of over 85% of the global gaming sector, which sector represents over $AU60 Billion in revenue. iSignthis provides operators in these jurisdictions a single, unified customer due diligence solution that converges identity with payments. As a result, iSignthis is now aggressively marketing its paydentity KYC service to some of the world's largest gaming and betting related regulated entities offering them access to any of the world's 3.5 billion financially included individuals".

Manx Gaming Operators / Financial Services Licensees interested in further information on the iSignthis digital KYC service should contact Mr Chris Henry at: Chris.Henry@iSignthis.com


About iSignthis Ltd:

iSignthis Ltd (ASX:ISX.AX - News) converges remote payment authentication and KYC identification, to deliver automated customer on-boarding with global reach. Any transaction from any card or electronic payment instrument can be authenticated at checkout to safeguard against online fraud, whilst assisting with anti-money laundering regulation compliance. iSignthis' unique solutions protect online customers whilst providing confidence to operators regulated under AML/CTF for KYC compliance solutions.

Contact:

Todd Richards Company Secretary Tel: (03) 8640 0990 W: http://www.isignthis.com iSignthis digital KYC service Mr Chris Henry E: Chris.Henry@iSignthis.com

Source:

iSignthis Ltd

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