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Yahoo
30-05-2025
- Business
- Yahoo
ISX Financial Reports Record Results in 2024 Annual Report - Revenue Up 81% Year-on-Year
NICOSIA, Cyprus, May 30, 2025 /PRNewswire/ -- ISX Financial EU Plc ("ISXPlc"), an innovative provider of regulated transactional banking services and real-time payment technology in the UK and Europe, today released the financial highlights of its 2024 Audited Annual Report, marking another record-breaking year of growth, profitability, and innovation. 2024 Financial Highlights Robust GrowthISXPlc reported revenue of €58.7 million for the financial year 2024, reflecting an 81% year-on-year increase. This growth was driven by surging transaction volumes, strong client acquisition, and strategic investments. ISXPlc's software subsidiary, Probanx, contributed more than €2.5 million to the Group's total revenue. Financial StrengthISXPlc achieved an industry-leading EBITDA margin of 61%, representing a 30% improvement compared to the previous year. This margin expansion underscores the scalability of the company's model and the strength of its diversified client base. Innovation FocusIn 2024, ISXPlc invested €2.8 million in Research & Development through its Probanx subsidiaries, accelerating product delivery and continuous platform enhancements. These investments support the company's ongoing commitment to pioneering secure, intelligent payments and regulatory technology solutions. Trusted PartnerClient balances held under custody rose by 56% to €189 million, reflecting increased trust from ISXPlc's growing network of business customers. As a prudentially regulated institution, safeguarding client funds remains a cornerstone of ISXPlc's reputation and service delivery. Product and Partnership DevelopmentIn the fourth quarter, ISXPlc launched its SEPA Direct Debit with Notification service and completed a strategic investment in an AI-focused business. The Group's 2025 product roadmap includes several innovations and enhancements developed and delivered by its Probanx subsidiaries. Community EngagementWith a substantial portion of its team based in Cyprus, ISXPlc reaffirmed its commitment to community engagement. In 2024, the company continued its long-standing partnership with Ronald McDonald House through both financial support and staff volunteering. ISXPlc also hosted a successful national blood donation drive and expanded its "Dream Big" Initiative, promoting youth participation in sport. Additionally, ISXPlc was proud to sponsor Olympic fencer Alexander Tofalides and the Cyprus Rugby Federation. Outlook for 2025Despite macroeconomic turbulence in early 2025, ISXPlc is targeting full-year revenues of €60–65 million while maintaining profitability margins in the 30–40% range. The company remains confident in its ability to execute on its strategy, driven by innovation, operational excellence, and disciplined growth. View the 2024 Annual Report here: About ISX Financial EU PlcISX Financial EU Plc is a leading UK and EU-based electronic money institution and transactional banking provider, offering secure, real-time payments via bank and card rails. Through its wholly-owned subsidiary Probanx, ISXPlc delivers cutting-edge Software-as-a-Service (SaaS) solutions to banks and financial institutions across the globe, including interconnecting banks with central banks. For more information, visit Media enquiries: +35722015740, media@ View original content: SOURCE ISX Financial EU PLC Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Khaleej Times
19-02-2025
- Business
- Khaleej Times
Christopher Aleo and the fintech challenge: iSwiss Bank brings digital banking to the Emirates
European accounts and instant payments for businesses and professionals in Dubai and Beyond Companies based in Dubai and the UAE will soon have access to an innovative financial solution thanks to the expansion of iSwiss Bank, the international fintech group led by Christopher Aleo. The institution has announced the introduction of a service that will allow local businesses to open bank accounts in Europe with just a few clicks, entirely online and without the need to visit a physical bank. This new digital banking model will streamline money transfers, making them faster and more accessible, in line with the company's strategic vision. Christopher Aleo, CEO and founder of iSwiss, emphasised that this innovation represents a crucial step in modernising banking services for businesses in the region. "We strongly believe in digitalisation and the need to offer fast, secure, and global financial tools. Our expansion into the UAE aims to provide local businesses with immediate access to European financial networks, eliminating the complexities typically associated with international transfers." The new iSwiss Pay service will allow Emirati businesses to obtain a European IBAN, making transactions in euros with suppliers, clients, and commercial partners within the European Union more efficient. The system is integrated with the SEPA Direct network, enabling instant and low-cost transfers. Account opening will be entirely online, with digital verification procedures ensuring a seamless and quick process. The iSwiss initiative enters a rapidly growing market, marked by the increasing adoption of fintech solutions for corporate financial management. The Swiss company, already a leader in the securitisation sector with transactions exceeding €21 billion between 2024 and 2025, has chosen Dubai as the starting point to strengthen its presence in the Gulf and offer high-value digital banking services. According to Aleo, this expansion is just the beginning of a broader plan to position iSwiss as a global bank, capable of supporting not only businesses and individuals but also financial institutions seeking Banking as a Service (BaaS) solutions. Beyond speed and efficiency, iSwiss Bank prioritises security. The group's banking infrastructure complies with stringent European regulations, ensuring a high level of fund and data protection. Businesses will be able to operate in a regulated environment, benefiting from a stable and reliable banking system. The vision of making digital banking globally accessible has been a core objective for Aleo since iSwiss was founded. "We don't just want to offer a payment service; we aim to create an innovative banking infrastructure capable of connecting emerging economies with the world's leading financial markets. Dubai is the ideal place to launch this initiative, given its central role in global trade and the openness of its financial ecosystem to new technologies." The entry of iSwiss Bank into the Emirati market represents both an ambitious challenge and a major opportunity. The fintech company will have to compete with well-established players in the sector, but its highly technological approach and extensive experience in managing global financial transactions could provide a strategic advantage. If the expansion plan succeeds, iSwiss Bank could emerge as a key player for businesses needing global digital banking solutions, establishing itself as an essential partner for international trade. The digital transformation of finance is underway, and with iSwiss entering the corporate digital banking market, the future of global payments could become even faster, safer, and more efficient.
