iSignthis Ltd. (“The Company”) is pleased to announce that it has received communications from its auditors Grant Thornton Australia Ltd and its IT Security Auditors, Security Centric Pty Ltd (“the Auditors”), regarding the use of the Probanx Coreplus core banking platform in Australia to satisfy its ADI operations and APRA requirements.

The reports received from the Auditors have been submitted to the Australian Prudential Regulation Authority (APRA) as part of the application process that is currently ongoing/progressing by iSignthis eMoney (AU) Pty Ltd for an Authorised Deposit-taking Institution (ADI) license.

All APRA regulated entities must adhere to CPS 234 by 1st July 2019, with third party verification of an operative and compliant core banking system being a key milestone towards achieving ADI licensing.

On the basis of the foregoing, the Company advises that its ADI application is progressing well, with only minor matters remaining to be addressed. The Company is of the view that the license issue remains on target for early Q2 2019.

Probanx & APRA Prudential Standard CPS 234

Grant Thornton has completed an Independent validation of the Probanx.com CorePlus core banking system. Accordingly, the Company is satisfied that Probanx is ‘fit for purpose’, in that the system maintains fair and true records for financial obligations, the system calculates interest accurately and performs key functions as required.

Security Centric Pty Ltd (www.securitycentric.com.au) has also reviewed the Company’s IT policies and procedures incorporating Probanx CorePlus and has assessed these against compliance with APRA’s Prudential Standard CPS234 ‘Information Security’. Accordingly, the Company is satisfied that it has met its requirements in this regard.

Probanx is an alternative to Temenos T24, Oracle Flexcube and SAP Cloud core banking platforms.

The Company is already third party audited and certified to Payment Card Industry Data Security Standard (PCI DSS) Level 1 by Security Centric, and BSI audited and certified to ISO27001 ’Information Security Management’. The Company has also previously been audited by the major card schemes for PCI security and general compliance.