SAN DIEGO, CA / ACCESSWIRE / July 21, 2016 / Global Payout Inc. (GOHE) is pleased to announce today that its Board of Directors has accepted a board resolution to purchase a controlling interest in ISBC Holdings Ltd., the sole management company for International Sovereign Banking Corporation (ISBC). ISBC is a privately owned Sovereign Nation Bank to be held on the Sovereign Tribal land of the Wakpamni Lake Community, Oglala Sioux Tribe located at the Pine Ridge Tribal Reservation in South Dakota. ISBC Holdings Ltd. is a domestic and international bank management company acting as the sole manager for the bank's business and operations based upon an irrevocable Operations Management Services Agreement. As the parent company of ISBC Holdings Ltd., Global Payout will now assist in the final formation and capitalization of the Private Banking Structure. This will include the completion of its legal structure, the design and activation of its banking products and the integration of leading financial technologies, whereby the completion of the above will directly benefit Global Payout in gross revenues generated by the Private Banking Structure. First Revenues to be derived from ISBC Holdings Ltd., with its banking products, are scheduled to commence in the fourth quarter of 2016.
ISBC Holdings Ltd. will look to Global Payout to integrate an innovative retail cloud banking platform and prepaid card services for the domestic and international markets, utilizing the most up-to-date financial technologies (FINTECH). Global Payout will look to ISBC Holdings to provide competitive retail deposit products and services to these markets to attract depositors to a cloud banking platform, in addition to Commercial and Retail products.
"The management teams of both ISBC Holdings Ltd. and Global Payout have worked successfully to launch this new International Private Banking Structure and now believe our best interests are collectively served through the integration of these two firms," said Jim Hancock, CEO, Global Payout, Inc.,
"Our Banking team is excited to have joined with Global Payout, so we may complete the final steps in the buildout of the Banking Structure together. The integration of the companies and the expertise of both management teams will make for a very exciting 'high tech' new style, Private Banking Model," said Douglas Miller, Acting CEO, ISBC Holdings Ltd.
About Global Payout
Global Payout, Inc., www.globalpayout.com, headquartered in San Diego, California, is a Program Manager providing both project management advisory services and direct account provisioning systems that can be offered through Global's eWallet platforms, digital currency management, and prepaid debit card issuing bank programs located throughout the world. This enables end-users of the platform to maximize an expanded suite of financial services and minimize operational costs through integration of state-of- the-art FinTech applications and platforms.
About ISBC Holdings, Ltd.
ISBC Holdings, Ltd. (ISBC Holdings) is a domestic and international bank management company acting as the sole manager of International Sovereign Bank Corporation (ISBC), a private international bank. ISBC Holdings has entered into an irrevocable Operations Management Services Agreement with International Sovereign Bank Corporation for a term of 100 years to manage bank products, services and operations. ISBC Holdings has been established as an off-shore company based in Hong Kong and domestically in Nevada, with administrative offices in San Diego and Orange County, California.
SOURCE: Global Payout Inc.