Tony Sheehan
Chief Executive Officer

Good morning, and welcome to the Q3 FY '26 update for Change Financial. My name is Tony Sheehan, CEO of Change, and I'm joined by Tom Russell, Executive Director.

Similar to our usual webinar format, Tom and I will run through a presentation and then take Q&A at the end. If you do have any questions, please submit them through the chat function on this webinar. Okay. So what do we do at Change Financial? Many of you have listened to this slide and seen this slide many times, so I'll try and go through pretty quickly.

We provide innovative and scalable payments solutions for over 150 clients across more than 40 countries. We're a B2B business with 2 core products, the first being Vertexon, which is our payments as a Service offering, which provides card issuing, card management and transaction processing. Vertexon supports prepaid, debit and credit card issuing, and there are 2 main models under Vertexon. The first is processing only. So under this model, Change provides the technology, which is a card management system to clients to run their card programs. So the clients hold the necessary scheme and regulatory licenses to issue cards. Processing only is available globally and supports all major schemes.

So we have clients using Vertexon in Southeast Asia and Latin America, including 2 of the largest banks in the Philippines running over 45 million cards on the platform. The second model is processing and issuing. This is only available in Australia and New Zealand. And under this model, clients utilize Vertexon for processing capabilities and leverage Change's regulatory and scheme licenses and issuing capabilities. So under