SP1 0.00% $1.07 southern cross payments ltd

ISX Financial, page-31

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    In focus: ISX Financial

    Nikogiannis Karantzis, ISX Financial Managing Director & CEO, introduces ISX Financial EU Plc (“ISX Financial”)

    What is ISX Financial’s key focus and overall vision for the payments space?

    ISX Financial is a diversified RegTech with banking technology and regulated financial service offerings, founded in 2015, with more than 10,500 shareholders. We have researched, patented, written and deployed our core software technology stack to satisfy the unique requirements of our customer base.

    What is your vision?

    We envision a banking system tailored for the demands of contemporaneous consumers and businesses. We will make instant bank transfers as easy and convenient as paying with cards.

    What would you say are ISX
    Financials’ key services and how do they differentiate themselves in the payments space?

    ISX Financial offers a complete end-to-end regulated service across all our verticals. These include instant inter-bank payments, electronic money, card processing, card issuing, currency exchange and identity verification services.

    Instant Payments:
    Our customers can send and receive bank payments with us through our SEPA Instant and SEPA SCT service, as well as the UK’s Faster Payments Service (FPS).

    Our SEPA Instant service allows instant bank transfers to all participating banks across the EEA region, while our Faster Payments Service allows instant bank transfers to all participating banks across the UK. SEPA Instant transfers are sent and settled within 10 seconds and allow up to €100,000 ($106,000) per transfer.

    Faster Payments Service transfers are sent and settled within 10 seconds and allow up to £1m ($1.25m) per transfer.

    ISX Financial was the first provider of SEPA Instant in Cyprus and the Balkans, making instant bank payments across the EEA and is today one of the largest processors. ISX Financial processes on behalf of other banks, credit unions, payment institutions as well as its business customers.

    Our customers can also transact through us directly through our core banking platform, which links all our verticals together. All client funds are all held directly with the relevant central bank, ensuring a zero-credit risk and secure service sitting atop our core banking service. We have also recently expanded our offering to support SWIFT transfers, to banks all over the world in over 25 currencies. These include heavily sought-out currencies such as $USD, $CAD, $HKD, $AUD, ₹INR, ¥Yen & £GBP.

    Card Processing:
    Our ISXPay platform offers conventional card acquiring through some of the world’s largest payment schemes. We are principal members of Mastercard, Diners, Discover, UnionPay & JCB. We are also an aggregation partner of American Express (AMEX) which gives us access to top-tier card schemes and bridges the gap with our payment offerings.

    With the payments space being such a
    dynamic environment, how do you see the future for the company and what are its next steps?

    Technology is ultimately what differentiates service providers in this industry. We have consistently focused on researching, innovating, patenting and developing our current technology, and that will continue. We’re re-envisioning a payment system and tailoring it to the demands of today’s consumers that demand instant results. Open banking is where we see the future of this industry and instant bank transfers will be the tool to unlock it. Our own open banking platform allows customers to make payments well under 10 seconds 365 days per year, versus traditional card payments which can take days to clear.

    Our company continues to expand internationally with customers worldwide, making us a truly global company. Alongside our Headquarters based in Cyprus, we have offices in the USA, UK, Lithuania, Netherlands and Malta, with Canada & Brazil to follow shortly.

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