Proactive Investors - Information Services Corporation (TSX:ISV) told investors Bank of Canada has selected it as its operator and technology solutions provider for the Bank Act Security Registry.
The Act enables security interests to be registered under section 427 of the Bank Act across Canada.
ISC said the contract will expand its Registry Operations segment, which will be responsible for the service delivery of the Registry, while its Technology Solutions segment will develop and implement the critical technology solution.
Once it has completed the implementation, it said 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. It expects to commence operating the Registry in the summer of 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 commented in a statement.
“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 noted that the new contract builds on recent momentum for its RegSys technology platform, including a recent contract with the State of Michigan, as well as other recent contracts with Cyprus, Jersey and the States of Guernsey.
Headquartered in Canada, ISC is a leading provider of registry and information management services for public data and records.