- Fintech company Identitii (ID8) has secured an International Organisation for Standardisation (ISO) certification for its regulatory risk reduction services
- Identitii has been awarded ISO 27001 information security certification, which opens up a range of customer opportunities for Identitii
- The company’s Overlay+ platform is designed to help financial institutions reduce their risk of breaching regulatory rules
- Investors seem pleased with today’s certification, with Identitii shares up almost eight per cent and worth 20 cents each this afternoon
Fintech company Identitii (ID8) has secured an International Organisation for Standardisation (ISO) certification for its regulatory risk reduction services.
Specifically, Identitii has been awarded ISO 27001 information security certification. This means a team of auditors, on behalf of the ISO, has verified the Identitii tech’s ability to manage and protect company and client data.
Simply put, the certification is an important milestone in securing financial service contracts, meaning it opens up more customer opportunities for Identitii.
The company’s Overlay+ platform is designed to help financial institutions reduce their risk of breaching regulatory rules and subsequently avoiding serious fines.
The tech works on the idea that Know Your Customer (KYC) services are no longer enough to prevent money laundering. As such, Identitii’s “Know Your Transaction” services are designed to take things a step further by sending intelligent information with a transaction to help customers and watchdogs better understand its origin and purpose.
Importantly, the Overlay+ platform allows banks to do this without having to upgrade or change their technology.
“We envisage a trusted and transparent financial services industry, which is accessible to everyone, and where financial crime is impossible,” Identitii CEO John Rayment said.
“Our vision simply isn’t possible unless we have the right systems and processes in place to protect not only our own information, but that of our customers and partners,” he said.
“Our sincere thanks to Compass Assurance Services who are accredited by JAS-ANZ to certify ISO 27001 Information Security Management Systems.”
Investors seem pleased with today’s certification, too, with Identitii shares trading 7.89 per cent higher this afternoon. At 2:20 pm AEST, shares in Identitii are worth 20 cents each.