Home Deals Identitii renews project agreement with HSBC
Identitii renews project agreement with HSBC Image courtesy of IndypendenZ at FreeDigitalPhotos.net Featured

Australian-listed fintech company Identitii has renewed an agreement with global tier one bank, HSBC Global Services (UK), to undertake phase two of a project to support HSBC’s plans to roll out Identitii’s intelligent information solution into multiple geographies.

Following the successful completion of phase one of its project with HSBC, a customer since 2017, Identitii (ASX:ID8) announced that it had commenced work on phase two of the project under the existing framework agreement.

Identitii said phase two would deliver additional functionality to support HSBC’s plans to roll out its solution into multiple geographies.

It also expects phase two to drive increased consumption of data points (transactions) across its platform. Initially, phase two will generate additional revenue of up to US$480,000 for Identitii.

The work will be conducted across a number of stages over a two-year period, with incremental billing and associated termination terms.

Identitii says that as further work is completed, it will earn additional consumption (transaction) fees based on usage.

“The commencement of phase two of Identitii’s project with HSBC is the culmination of some really innovative work, from both HSBC and Identitii. We are pleased to report that the project is delivering some great results and we look forward to continuing to extend these benefits to HSBC’s customers,” said Nick Armstrong, chief executive of Identitii.

“Today’s announcement validates and is consistent with our land and expand strategy for driving customer revenue growth,” said Armstrong. He added that typically a bank would purchase a single licence, earning Identitii a fee of between US$250,000 and $500,000. A large bank could further purchase multiple licences for various geographies or different use cases of Identitii’s platform.

“Identitii is pleased to announce this revenue growth and will continue to provide updates based on both an expanding customer base and partnership model, which will continue to drive increased consumption (transactions) through the platform.”

CDAO SYDNEY TURNS 5 IN 2019

With 50+ Speakers, 300+ senior data and analytics executives, over 3 exciting days you will indulge in all things data and analytics before leaving with strategic takeaways that will catapult you ahead on your journey

· CDAO Sydney is designed to bring together senior executives in data and analytics from progressive organisations
· Improve operations and services
· Future proof your organisation in this rapidly changing technological landscape
· CDAO Sydney 2-4 April 2019
· Don’t miss out! Register Today!
· Want to find out more? Download the Agenda

REGISTER HERE!

LEARN HOW TO REDUCE YOUR RISK OF A CYBER ATTACK

Australia is a cyber espionage hot spot.

As we automate, script and move to the cloud, more and more businesses are reliant on infrastructure that has the high potential to be exposed to risk.

It only takes one awry email to expose an accounts’ payable process, and for cyber attackers to cost a business thousands of dollars.

In the free white paper ‘6 Steps to Improve your Business Cyber Security’ you’ll learn some simple steps you should be taking to prevent devastating and malicious cyber attacks from destroying your business.

Cyber security can no longer be ignored, in this white paper you’ll learn:

· How does business security get breached?
· What can it cost to get it wrong?
· 6 actionable tips

DOWNLOAD NOW!

Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

 

Popular News

 

Telecommunications

 

Sponsored News

 

 

 

 

Connect