REGINA, Saskatchewan, Dec. 04, 2023 (GLOBE NEWSWIRE) -- 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 ISC
Headquartered 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 Information
This 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 Contact
Jonathan Hackshaw
Senior Director, Investor Relations & Capital Markets
Toll Free: 1-855-341-8363 in North America or 1-306-798-1137
investor.relations@isc.ca
Media Contact
Jodi Bosnjak
External Communications Specialist
Toll Free: 1-855-341-8363 in North America or 1-306-798-1137
corp.communications@isc.ca
