- Information Services Corp. (TSX:ISV) was selected by the Bank of Canada to be the operator and technology solutions provider for the Bank Act Security Registry
- The Bank Act Security Registry enables security interests to be registered under section 427 of the Bank Act across Canada
- 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
- Information Services Corp. last traded at C$20.33 per share
Information Services Corp. (TSX:ISV) was selected by the Bank of Canada to be the operator and technology solutions provider for the Bank Act Security Registry.
The Bank Act Security Registry enables security interests to be registered under section 427 of the Bank Act across Canada.
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.
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.
The company expects to commence operating the registry by summer 2024.
“This five-year contract is a testament to ISC’s expertise in modernizing, streamlining and operating complex registry systems,” ISC President and CEO Shawn Peters said in a news release. “We are pleased to embark on this initiative, and excited about the continued growth for ISC and its technology solutions and registry operations segments.”
This builds on recent momentum for the company’s RegSys technology platform, including the recent announcement of the implementation contract for the State of Michigan, as well as other recent contracts with Cyprus, Jersey and the States of Guernsey.
ISC is a provider of registry and information management services for public data and records. The company operates through three segments: Registry operations, services and technology solutions.
Information Services Corp. last traded at C$20.33 per share. While the stock is down nearly 11 per cent in the past year, it is up 30 per cent over the last five years.
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