ISX Financial, a global company specialising in financial services and payments infrastructure, has released its Q2 2023 report. One of the sectors ISX Financial covers closely is the gaming industry.

Overall revenue from the top 50 customers saw a 17% growth to €6.0m ($6.6m) when compared to the previous quarter.

When compared year-on-year, ISX Financial reported a 19% increase in gross profit margin.

The unaudited profit for Q2 2023 was €0.8m, while profit after tax expenses totalled €1.3m, which is an 18% year-on-year increase.

However, when compared to Q1 2023, this was a decrease of €0.1m.

Nikogiannis Karantzis, ISX Financial CEO, said: “These results continue to demonstrate ISX’s continuing profitable growth, whilst at the same time maintaining a high degree of product innovation and market expansion.

“The launch of our UK eMoney service, with its own Bank Identification Code, aka Sort Code, is a significant milestone, that will allow ISX Financial to continue to build and offer other products based upon its in house developed payments infrastructure.

“The ISX model demonstrates that growth, profits and innovation are not mutually exclusive.”

The Total Electronic Money Issued division saw an increase of 11% compared to Q1 2023, and Open Banking reported a 25% growth.

The amount of funds held on behalf of merchants was reported to be €22.9m, a ries of 23.5%.

Net assets amount also saw an increase of 7% when compared to the previous quarter.

Also this quarter, ISX Financial released a number of new services, including the Electronic Money Account in the UK, alongside the Faster Payments Service and Clearing House Automated Payment System.

Finally, the company has announced the upcoming launch of its PaidBy Bank service, which is anticipated to launch August 2023.

Recently, Karantzis spoke on the GI Huddle about open banking and the future of gaming payments.