Australian Securities Change (ASX)-listed Fintech agency Identitii (ASX:ID8) claims that the energy of its community, which incorporates international banking shoppers, has been one in every of its predominant aggressive benefits.
Identitii works with main banking establishments together with HSBC. They’re each creating the Overlay+ platform, which is a brand new resolution for “intelligent” info exchange that goals to the enhance monetary communication course of, by utilizing blockchain and tokenization.
As first reported by Stockhead, Identitii has been specializing in strengthening its buyer relationships. It has additionally been engaged on initiatives with Commonplace Chartered Bank.
Identitii just lately employed John Rayment as its new chief government, in an effort to assist the corporate deal with the challenges created by the COVID-19 outbreak.
Rayment beforehand labored at Travelex, a longtime multinational funds firm. He served as Travelex’s international head of its B2B enterprise division.
Rayment famous that after managing a division serving over 2,000 clients in 77 international locations, he wished to discover different alternatives. He now plans to use his data and experience to assist Fintech corporations, as they put together to scale their operations to satisfy rising demand for his or her companies, following the Coronavirus outbreak.
Rayment instructed Stockhead:
“I know a number of people in senior banking jobs around the world. And when I described the details of Identitii’s business to them …they said that if Identitii can execute on its strategy, then it’s a [good] opportunity.”
Rayment joined Identitii in January 2020. He started engaged on numerous benchmarks and key milestones he needs the corporate to realize this yr.
“The key focus now is how to take our core products, where we’ve already established traction with key clients, and build out our customer base.”
“We’re applying more of a lean startup approach, where you take a view of the market and the problems they want solved, as opposed to building a product and hoping we can sell it.”
ID8 just lately closed a $1.9 million funding spherical by way of a rights difficulty to certified shareholders. The Fintech agency says that the funds can be used to assist finalize numerous offers.
“If you look across the spectrum, from governments and regulators to banks and consumers, the demand for more information around transactions isn’t going to go away.”
“Financial institutions will likely be looking to identify quicker and more nimble ways to solve problems such as how to meet reporting and regulatory obligations…Solving technology challenges in a faster, smarter and more cost-effective way than completely overhauling existing technology systems is the key value proposition on which Identitii was built.”