Identitii Limited announced that it has agreed to end its agreement with HSBC Hong Kong, under which it provides support for HSBC's Digital Accounts Receivables Tool (HSBC DART), which was built on Identitii technology. This agreement is a key component of Identitii's One Platform rationalisation strategy, which is helping the Company accelerate growth by reducing the number of products and platforms being supported across the business. The DART product was built exclusively for HSBC and integrated into their core systems, meaning it could not be sold to any other prospective customer.

Identitii has received a termination notice from HSBC, which provides the Company with 30 days written notice to end the contract on 15 January 2023. Last financial year (FY22) HSBC Hong Kong paid Identitii USD 139,000 in licence fees, plus USD 205,145 in professional services and other fees. The cost to Identitii to service this agreement was greater than the fees received.