Identitii

blockchainregtechauthentication and fraud preventioncompliance

FOUNDING YEAR: 2014
LOCATION: Australia
Last Update: 18/10/2019

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About

Identitii (ASX:ID8) is on a mission to improve the integrity of data as it moves around the global financial system. The technology being used in financial services today doesnt allow detailed data and documents to travel with funds. Value moves well and at speed, but information is still moving separately via unsecure channels like email, fax or excel spreadsheets. The challenge is that information requirements are increasing and the ability of institutions to onboard customers, process payments and meet reporting obligations is under threat because there hasnt been a secure way to share information and enable it to move with money. Identitii overlays existing technology systems with a digital platform that creates a single source of shared truth for every transaction. So information can be easily identified, collected and securely shared at the same speed as payments are made, without major system upgrades.

MEDICI Analysis

identitii is a secure information sharing company enabling banks to accelerate approvals. identitii allows banks to move away from customer-level information to detailed information about each and every transaction.

Focus

PRODUCTS & SERVICES

Solutions include financial crime compliance, overlay services for domestic & international payments (attaching rich information to traditional and emerging payment messages), correspondent banking (streamlining information exchange) and solving challenges in government service delivery by enabling track-and-trace and publicly verifiable exchange of true copies of official documents.

REVENUE MODEL

Subscription

PRIMARY PROBLEM SOLVED

identitii's tracking tokens use blockchain to solve KYC / AML / CTF problems, reduce cost of processing transactions and improve reporting for banks.

INTELLECTUAL PROPERTY

Patent(s) FILED

Traction

COMPANY TYPE:

For Profit

STOCK EXCHANGE:

ASX - Australian Securities Exchange

REVENUE

$500k - $999k in 2017

VALUATION AT IPO:

40000000

MONEY RAISED AT IPO:

7821716

TRANSACTIONS VALUE:

$500 K in 2017

ACTIVE USERS:

1 Million in 2017

company provided insights
Web Traffic

Web Traffic

MONTHLY VISITS

1,522

AVERAGE VISITS (6 MONTHS)

1,995.87

MONTHLY VISITS GROWTH

0.92%

VISIT DURATION

121

VISIT DURATION GROWTH

-17.9%

PAGE VIEWS VISIT

1.63

PAGE VIEWS VISIT GROWTH

-12.73%

BOUNCE RATE

59.31%

BOUNCE RATE GROWTH

11.07%

GLOBAL TRAFFIC RANK

5,360,473

MONTHLY RANK CHANGE

-2,251,988

MONTHLY RANK GROWTH

-29.58%

Innovation Programs

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Identitii

About

Identitii's token technology provides banks with a platform to exchange detailed payment information with no change to legacy systems. Identitii uses tokens and a distributed ledger to enrich traditional payments with attributes and documentation to a payments message,including originator and beneficiary records and attributes from Markit & Genpact's KYC.com Identitii was announced as a presenter in Finovate Fall New York 2016 and was accepted to pitch at Tokyo FinSum hosted by Japan FSA and Nikkei. It was part of the Monetary Authority of Singapore(MAS) Fintech Hackcelerator in 2016.

Focus

PRODUCTS & SERVICES

identitii’s patent-pending tokenisation technology allows both parties of a payment transaction to be verified in real-time. identitii turns traditional payments into enriched payments, including purchase orders, invoices, quotes and more. identitii’s tokenisation of payments allows customer to know where their payment is in real time.

REVENUE MODEL

Subscription

TOP PROBLEM SOLVED

identitii's tracking tokens use blockchain to solve KYC / AML / CTF problems, reduce cost of processing transactions and improve reporting for banks.

PRODUCT DEVELOPMENT STAGE

COMMERCIAL LAUNCH

PRODUCT DEVELOPMENT COMMENT

Just completed a pilot with SWIFT and 7 member banks: JPMorgan, HSBC, Standard Chartered, Barclays, Westpac, Macquarie, Rabobank

KEY DIFFERENTIATORS

Works with existing settlement systems, no need to rip & replace.

PRIMARY CUSTOMER TYPE

Enterprise - Banks or Financial Institutions

PRODUCT ATTRIBUTES

On-premises

White label

Traction

ANNUAL REVENUE:

$500k - $999k

TRANSACTIONS VALUE:

500 K

ACTIVE USERS/ACCOUNTS:

1 Million

LIVE USERS/TRANSACTIONS:

Yes, in live production

How will you grow the number of users/accounts/transactions?

Channel partners eg. SWIFT

CHANNEL STATUS

INITIAL CLIENTS

NUMBER OF CLIENTS OR PAYING CUSTOMERS

1

People

NUMBER OF EMPLOYEES

11-50

Momentum

FUNDED

YES

FUNDING COMPLETED

NO

LISTED

NO