In this paper, we propose a data-driven cancellable biometrics scheme, referred to as SoftmaxOut Transformation-Permutation Network (SOTPN). The SOTPN is a neural version of Random Permutation Maxout (RPM) transform, which was introduced for facial template protection. We present a specialized SoftmaxOut layer integrated with the permutable MaxOut units and the parameterized softmax function to approximate the non-differentiable permutation and the winner-takes-all operations in the RPM transform. On top of that, a novel pairwise ArcFace loss and a code balancing loss are also formulated to ensure that the SOTPN-transformed facial template is cancellable, discriminative, high entropy and free from quantization errors when coupled with the SoftmaxOut layer. The proposed SOTPN is evaluated on three face datasets, namely LFW, YouTube Face and Facescrub, and our experimental results disclosed that the SOTPN outperforms the RPM transform significantly.