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9 Spokes has "banks almost queuing up at our door"

9 Spokes International Ltd (ASX:9SP) chief executive Mark Estall speaks to Proactive Investors about the data management company's rapidly growing and evolving operations.

9 Spokes International provides a platform collating cloud-based business tools for SMEs, delivered predominantly through major banking institutions. Estall explains, "these apps give the small business owner the ability to get on that cloud journey, buy some business tools that they couldn't do before. We have about 60 apps on our platform and we're growing that to be about 120 as we move into new geographies etc... we can stitch it altogether and give them a single pane of glass view on how their business is performing... we don't see too many competitors."

Part of the company’s growth model is based on geographic expansion through regional hubs run out of Auckland, New Zealand. Another catalyst for growth is the evolving legislation on data protection, with Europe at the vanguard of enacting new regulations which many expect will trigger new global standards. "The regulator and the impact that has on our business is huge. They change a law in a particular geography, and the software requirements that we have to build out for those banks is a massive opportunity for us," says Estall. 

Furthermore, Estall envisages opportunities in leveraging existing data, and building a network effect: "we know that the future is now building on the platform that we have and the ecosystem that we have... Because we have the relationships with the software partners, the banks, the small business owners and our alliance partners; we can actually start taking that data and start to do something really intelligent with it. We are looking at all the obvious AI tools, we're looking at some Blockchain technologies, we're kind of casting our eye over all those new things that we could tackle in the future."

 
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