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ZignSec has, through its subsidiary Web Shield, signed a contract with Deloitte Germany for the use of Web Shield’s Versatile Customer Underwriting (VCU).
VCU is a software-as-a-service solution to streamline the Know Your Business (KYB) processes by automating the corporate document retrieval process for various jurisdictions to identify the ultimate beneficial owners of legal entities as well as perform sanctions and PEP screenings.
Comment from Timm Schneider, CEO of ZignSec:
ZignSec has, through its subsidiary Wyzer Limited, signed an agreement with Grant Thornton, which means that Grant Thornton will use ZignSec's services to digitize and automate business processes relating to customer onboarding and risk assessment of individuals (Know Your Customer, KYC) and businesses (Know Your Business, KYB).
Second quarter in summary
Significant events during the second quarter
ZignSec has, through its subsidiary Wyzer Limited, signed the contract with the Maltese government worth in excess of SEK 30 million over a period of five years. The contract regards the development of a Government to Business portal that will coordinate the procedure of digitally connecting government agencies with businesses.
ZignSec AB (publ) (“ZignSec” or the “Company”) as today completed the acquisition of Web Shield Limited, including its subsidiaries Web Shield Services GmbH, Web Shield Services Polska sp.z.o.o and 50% of Web Shield Legal Services sp.z.o.o (”Web Shield”) which was announced in a press release on June 9, 2021 (the ”Transaction”) for an up-front purchase price of approximately EUR 20.0 million, equivalent to approximately SEK 201.5 million (using the FX rate EUR/SEK on June 8, 2021).
ZignSec has signed an agreement with Trustly Group AB which means that Trustly will use ZignSec's services for improved KYC (Know Your Customer) processes. Trustly Group AB is a fintech company that provides payment solutions in real time through its technology for direct payment via bank.
Today, Trustly is used by more than 8,000 companies and by 2020 the company had a reach of over 525 million consumers and was integrated into 6,300 banks in over 30 countries in Europe, North America and Australia.
ZignSec wants to inform its shareholders and other interested parties that a company presentation has been published. The presentation is led by ZignSec's CEO Timm Schneider, Web Shield’s CEO Alex Noton and Web Shield’s CIO Christian Chmiel.
The reason for the presentation is to provide all shareholders with information regarding the acquisition of Web Shield.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, HONG KONG, JAPAN, CANADA, NEW ZEALAND, SWITZERLAND, SINGAPORE, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES.
ZignSec AB (”ZignSec”) has today entered into an agreement to acquire 100 per cent of the shares in the UK-based company Web Shield Ltd, including the subsidiaries Web Shield Services GmbH, Web Shield Services Polska sp.z.o.o and 50% of Web Shield Legal Services sp.z.o.o (”Web Shield”).