ASX Tech Stocks: Identitii inks compliance software deal with Standard Chartered, takes monthly share price gain to 300pc
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Regtech company Identitii (ASX:ID8) continued its strong recent rally this morning, after announcing a three-year licence agreement with the Australian division of global bank Standard Chartered.
The deal will see Standard Chartered deploy the rollout of ID8’s Software-asa-Service (SaaS) regulatory compliance platform.
ID8 said it will receive an initial payment of $300,000 from the deal, with opportunties to explore commercial partnership with other divisions in SC’s global network.
Launched on September 2, Identitii says its new platform “simplifies and automates AUSTRAC compliance” for the more-than 15,000 entities that are required to report to the Australian regulator.
ID8 said the new platform expands on the capabilities of its existing AUSTRAC reporting solutions, and makes it “easier for Mutual Banks, Money Service Businesses, Superannuation Funds, Casinos and Non-bank Financial Institutions to ensure complete and accurate AUSTRAC reporting”
From 12-month lows of 7c in late August, shares in ID8 have risen more than 300% over the past month and were trading this morning at 30c.
eSports and gaming technology company Emerge Gaming (ASX:EM1) also rose this morning, up 9.5% off the back of news its planning a strategic review of its assets – focusing on the MIGGSTER platform.
The aim of the review is to consider options for realising value from the MIGGSTER online eSports and casual gaming tournament platform technology and lifestyle hub.
The company says this could include the potential divestment, spin off or sale of the white label platform.
The Emerge board has appointed financial advisor, RSM Australia, to guide the review.
In the coming months the company is aiming to deploy its social gaming platforms via B2C and B2B2C models, as well as rolling out a ‘AAA’ cloud gaming streaming product to the market.
Elsewhere air traffic technology player Adacel Technologies (ASX:ADA) is up 5.8% after announcing its subcontract with Leidos for the US Federal Aviation Administration’s (FAA) Advanced Technologies and Oceanic Procedures (ATOP) program has been extended.
The subcontract previously provided around 45%-65% of the company’s services revenues, and has been extended on similar terms of one base year and eleven option years.
Over the last 20 years, Adacel has been supporting the oceanic automation software of the ATOP system which has provided increased’ operational efficiency within the U.S.-controlled oceanic airspaces of the Atlantic and Pacific.
Some of the ATOP system features include fully integrated flight and radar data processing, conflict detection between aircraft, satellite data link communication and surveillance capabilities, and electronic flight strips.
This has resulted in more optimal flight profiles, reduced fuel burn and carbon emissions, more airspace capacity and greater efficiency as well as reduced controller workload.