SYDNEY, AUSTRALIA: Identitii Limited has signed a Master Technology Agreement (MTA) plus a 3-year licence agreement with Standard Chartered Australia (SCB).
Under the terms of the agreement, SCB will licence Identitii’s new Software-as-a-Service (SaaS) 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.
The MTA also provides the opportunity for Identitii to further expand its partnership with SCB businesses in other locations. Activity and revenue are laid out in Order Forms (Statements of Work), the first of which is worth $0.3M to Identitii. Either party has the right to terminate the contract for any reason, with 90 days’ notice.
Identitii Limited is helping regulated entities reduce their exposure to regulatory risk, without replacing existing technology systems. Founded in 2014 and headquartered in Sydney, Australia, Identitii is listed on the Australian Securities Exchange (ASX:ID8). www.identitii.com