{"id":34274,"date":"2019-08-21T07:42:33","date_gmt":"2019-08-20T21:42:33","guid":{"rendered":"https:\/\/australianfintech.com.au\/?p=34274"},"modified":"2021-02-03T19:40:45","modified_gmt":"2021-02-03T09:40:45","slug":"hsbc-signs-new-license-with-australian-fintech-identitii","status":"publish","type":"post","link":"https:\/\/australianfintech.com.au\/hsbc-signs-new-license-with-australian-fintech-identitii\/","title":{"rendered":"HSBC signs new license with Australian fintech Identitii"},"content":{"rendered":"<section class=\"wpb-content-wrapper\"><p>[vc_row][vc_column][vc_column_text]<\/p>\n<blockquote><p>HSBC has signed a new license agreement to provide <a href=\"https:\/\/www.identitii.com\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"text-decoration: underline;\"><strong>Identitii\u2019s<\/strong><\/span><\/a> Overlay+ platform to its Australian customers.<\/p>\n<p>This new license comes after HSBC partnered with <a href=\"https:\/\/australianfintech.com.au\/Company\/Identitii\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"text-decoration: underline;\"><strong>Identitii<\/strong><\/span><\/a> in June to launch a Digital Accounts Receivable Tool (DART).<\/p>\n<p>The expanded agreement is for an initial five-year term with a minimum contract value of $511,600, which could be extended. Termination clauses are consistent with the current HSBC Global Framework Agreement with Identitii.<\/p>\n<p>Nick Armstrong, Identitii CEO, said: \u201cWe are very happy to announce that we have signed a new licence agreement for Overlay+. This is our second technology license with HSBC and it delivers on a key part of our growth strategy, which is deepening relationships with existing customers.<\/p>\n<p>\u201cIt also represents the commercialisation of a new use case for Overlay+. This seamlessly integrates with existing systems to ensure compliance with regulatory reporting requirements.\u201d<\/p>\n<p>Revenue for the new license will be generated through professional service fees for upfront technology implementation work. There will also be an ongoing monthly license fee.<\/p>\n<p>The implementation work is expected to be completed in Q2 2020. Following this, Overlay+ is expected to go live with HSBC Australia.<\/p><\/blockquote>\n<p><em>To read more, please click on the link below\u2026<\/em><\/p>\n<p>Source: <em><a href=\"https:\/\/www.verdict.co.uk\/electronic-payments-international\/news\/deal-news\/hsbc-identitii-new-license\/\" target=\"_blank\" rel=\"noopener noreferrer\">HSBC signs new license with Australian fintech Identitii<\/a><\/em>[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/section>","protected":false},"excerpt":{"rendered":"<p>HSBC has signed a new license agreement to provide Identitii\u2019s Overlay+ platform to its Australian customers.<\/p>\n","protected":false},"author":23,"featured_media":34278,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[17,25],"tags":[67,68,135,211],"class_list":["post-34274","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","category-fintech","tag-banking","tag-banks","tag-fintech-disruptors","tag-partnership"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>HSBC signs new license with Australian fintech Identitii<\/title>\n<meta name=\"description\" content=\"International bank HSBC has signed a new license agreement to provide Identitii\u2019s Overlay+ platform to its Australian customers.\" \/>\n<meta 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