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- Software company Identitii (ID8) signs a master technology agreement and a three year licensing agreement with Standard Chartered Australia (SCB)
- Under the agreement, SCB will licence Identitii’s new software-as-a-service platform initially in Australia
- Activity and revenue will be laid out in order forms, with the first one worth $300,000
- On the market this morning, Identitii is up 21.9 per cent and is trading at 29.3 cents per share at 12:22 pm AEST
Identitii (ID8) has signed a master technology agreement and a three year licensing agreement with Standard Chartered Australia (SCB).
SCB offers banking products in Asia, Africa and the Middle East to Australia wholesale clients. It has nearly 50 years experience of banking experience in Australia, entering the market in 1964.
Under the agreement, SCB will licence Identitii’s new software-as-a-service platform initially in Australia.
SCB is the second global correspondent bank to sign a master technology services agreement and the fourth global brand to sign a multi-year contract with Identitii.
Activity and revenue will be laid out in order forms, which the first one is worth $300,000.
The agreement also provides the opportunity for Identitii to further expand its partnership with SCB business in other locations.
Earlier this year, Identitii signed fellow ASX-lister Novatti (NOV) as its first Overlay+ customer.
Under the software agreement, Novatti will licence Overlay+ software as a service to streamline and automate AUSTRAC reporting.
The deal is for three years and worth $180,000.
On the market this morning, Identitii is up 22.9 per cent and is trading at 29.5 cents per share at 11:24 am AEST.
