Identitii (ASX:ID8) share price leaps 19% on new licence agreement

The company’s shares are making a statement of their own today…
The post Identitii (ASX:ID8) share price leaps 19% on new licence agreement appeared first on The Motley Fool Australia. –

The Identitii Ltd (ASX: ID8) share price is rocketing to uncharted territory for 2021. This comes after the financial technology company announced that it had signed a contract with Standard Chartered Australia.

At the time of writing, Identitii shares are swapping hands for 28.5 cents apiece, up 18.75%. It’s worth noting its shares reached as high as 32 cents in early morning trade, a new 52-week high — and a gain of 33% from market open.

Let’s take a look at what the company updated the ASX with before market open.

Identitii adds new contract

In news driving the Identitii share price, the company advised it has secured a Master Technology Agreement (MTA) and a 3-year licence agreement with Standard Chartered Australia.

Under the terms of the deal, Standard Chartered Australia will licence Identitii’s new software-as- a-service (SaaS) platform in Australia. However, there is scope to further extend this service to international markets.

Identitii highlighted that Standard Chartered Australia is the second global correspondent bank to sign a master technology (services) agreement. In addition, it’s the fourth global brand to sign a multi-year contract.

Identitii stated that activity and revenue are laid out in order forms (statements of work). However, the first initial job is worth $0.3 million.

Either party is able to terminate the contract for any reason, but must provide at least 90 days’ notice.

It’s no surprise to see the Identitii share price higher today as the company has had a busy 2021. Identitii filed patent applications for its intellectual property (IP) in the United States, and launched its new SaaS platform.

About the Identitii share price

Founded in 2014, Identitii is an Australian-based company that specialises in designing and developing financial software. The group serves in helping financial institutions eliminating anti-money laundering (AML) and counter terrorist financing (CTF) compliance risk.

Over the past 12 months, the Identitii share price has gained around 20%, and year to date has advanced by approximately 80%.

Based on today’s price, Identitii commands a market capitalisation of roughly $44.10 million, with about 152 million shares on issue.

The post Identitii (ASX:ID8) share price leaps 19% on new licence agreement appeared first on The Motley Fool Australia.

Should you invest $1,000 in Identitii right now?

Before you consider Identitii, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Identitii wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Why the Identitii (ASX:ID8) share price is up 11% today
Why the Identitii (ASX:ID8) share price has surged 180% in a month

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!