Sign up Australia
Proactive Investors - Run By Investors For Investors

9 Spokes signs contract with Bank of New Zealand, hits revenue guidance

Shares are up almost 24% in late trading, last priced at 5.2 cents.
laptop analytics dashboard display
A dashboard can be accessed online to quickly assess business data points

9 Spokes International Ltd (ASX:9SP) has signed a contract with the Bank of New Zealand (BNZ) to provide performance dashboard services to the bank’s customers.

Significantly, the BNZ contract means 9 Spokes has now met the range of annualised recurring revenue guidance of $6 to 7 million by March 31, 2018.

White label service for BNZ customers

Under the contract, 9 Spokes will provide a white label version of its dashboard for BNZ to offer to their small and medium sized customers as their own.

This is a substantial contract and new relationship, BNZ is a recognised leader in business banking with more than 130,000 small and medium business customers.

READ: 9 Spokes wins contract with Royal Bank of Canada affiliate

Mark Estall, co-founder and CEO, said: “The signing of BNZ is extremely important to us, being a company that was born and bred in NZ.

“We deliberately set out to be a global company from day one, that is, instead of partnering with local banks, we targeted global banks, such as Barclays and RBC.

“We are extremely delighted to now enter the Australasian retail bank market with such a well-recognised and respected partner in BNZ.”

Dashboards gather client’s business data for analysis

9 Spokes provides online dashboards for its clients.

This means it collects all of a business’s data so it is in one place, known as the dashboard, in order to be analysed.

The company receives implementation fees on top of recurring licence fees to each channel as it is deployed.

9 Spokes is building a good reputation amongst banks

BNZ is the first Australasian bank to partner with 9 Spokes and follows contracts with UK business bank leader Barclays (LON:BARC) and Canada’s largest bank, Royal Bank of Canada (TSE:RY).

BNZ is a fully-owned subsidiary of National Australia Bank (ASX:NAB).

View full 9SP profile View Profile

9 Spokes International Ltd Timeline

Related Articles

Vault online software in the cloud image
August 08 2018
The company has achieved strong sales on the back of its risk and safety management software systems.
1510592057_gas-pipeline.jpg
November 14 2017
In the quarter, the power and electromechanical segment contributed revenues of $16.7 million,
electric vehicle charging
July 04 2018
AMP wants to add 25 sites in Greater London and extend its reach into the North-West around Liverpool and Manchester

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use