ISC Selected by Bank of Canada to Operate New Bank Act Security Registry Under Five-Year Contract
04 Dezember 2023 - 2:00PM
Information Services Corporation (TSX:ISV) (“ISC” or the “Company”)
is pleased to announce that the Bank of Canada has selected the
Company as operator and technology solutions provider for the Bank
Act Security Registry (the “Registry”), which enables security
interests to be registered under section 427 of the Bank Act across
Canada.
This opportunity expands the Company’s Registry
Operations segment, which will be responsible for the service
delivery of the Registry, with the development and implementation
of the critical technology solution being provided by ISC’s
Technology Solutions segment. Once implementation is complete, the
Bank Act Security Registry will be capable of 24/7/365 service
provision and a range of online submission and search capabilities
for customers. The Company expects to commence operating the
Registry in Summer 2024.
“ISC is proud to provide services to the Bank of
Canada on this important project,” says ISC President and CEO Shawn
Peters. “This five-year contract is a testament to ISC’s expertise
in modernizing, streamlining and operating complex registry
systems. We are pleased to embark on this initiative, and excited
about the continued growth for ISC and its Technology Solutions and
Registry Operations segments.”
ISC’s opportunity to operate the Bank Act Security
Registry builds on recent momentum for our RegSys technology
platform, including the recent announcement of our implementation
contract for the State of Michigan, as well as other recent
contracts with Cyprus, Jersey and the States of Guernsey.
See how ISC’s three lines of business are growing
the registry operations, technology solutions and information
services landscape at company.isc.ca/what-we-do
For sales inquiries or to request a product
demonstration of the RegSys platform, please email us
at contact@isc.ca.
About ISCHeadquartered in Canada,
ISC is a leading provider of registry and information management
services for public data and records. Throughout our history, we
have delivered value to our clients by providing solutions to
manage, secure and administer information through our Registry
Operations, Services and Technology Solutions segments. ISC is
focused on sustaining its core business while pursuing new growth
opportunities. The Class A Shares of ISC trade on the Toronto Stock
Exchange under the symbol ISV.
Cautionary Note Regarding Forward-Looking
InformationThis news release contains forward-looking
information within the meaning of applicable Canadian securities
laws including, without limitation, statements related to the
future operations and development and implementation of a
modernized registry system for the Bank of Canada and anticipated
benefits. Forward-looking information involves known and unknown
risks, uncertainties and other factors that may cause actual
results or events to differ materially from those expressed or
implied by such forward-looking information. Important factors that
could cause actual results to differ materially from the Company’s
plans or expectations include risks relating to changes in
economic, market and business conditions, implementation within the
time specified and at the expected cost, changes in technology and
customers’ demands and expectations, termination risks and other
risks detailed from time to time in the filings made by the Company
including those detailed in ISC’s Annual Information Form for the
year ended December 31, 2022 and ISC’s unaudited Condensed
Consolidated Interim Financial Statements and Notes and
Management’s Discussion and Analysis for the third quarter ended
September 30, 2023, copies of which are filed on SEDAR+ at
www.sedarplus.ca.
The forward-looking information in this release is
made as of the date hereof and, except as required under applicable
securities laws, ISC assumes no obligation to update or revise such
information to reflect new events or circumstances.
Investor ContactJonathan
HackshawSenior Director, Investor Relations & Capital
MarketsToll Free: 1-855-341-8363 in North America or
1-306-798-1137investor.relations@isc.ca
Media ContactJodi BosnjakExternal
Communications SpecialistToll Free: 1-855-341-8363 in North
America or 1-306-798-1137corp.communications@isc.ca
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