Fintech agency iSentric (ASX:ICU) loved a 35 per cent bounce in its share price in early commerce Monday after saying “dynamic improvements” to its core expertise IOU Pay Platform.
The expertise enhancements are supposed to capitalise on new market alternatives for its IOU Pay Platform within the digital funds and cell banking sectors.
The corporate says it added value for its company prospects by offering information mining companies that are focused to ship elevated buyer satisfaction and conversion and referral charges, and enhance transaction volumes.
The expertise enhancements to the IOU Pay Platform additionally embody the power to course of client loan funds by bank account debiting, credit score and debit playing cards, and connects with banks’ credit score scoring and buyer authentication features.
“Further product design and development to process Buy Now Pay Later (BNPL) instalment payments and to secure large volumes of purchase transactions between merchants and consumers is underway,” mentioned iSentric.
BNPL is an increasing sector in Australia which has led the best way with this client innovation.
Malaysian banks (and others) use IOU Pay Platform
Among the many firm’s prospects for its digital funds companies are giant home and worldwide banks in Malaysia, and enormous company organisations corresponding to utilities and telcos in Malaysia and Indonesia.
The IOU Pay Platform will likely be enhanced to permit bank and business prospects to package deal and promote product choices for particular buyer teams based mostly on their buy historical past.
The information-driven venture is tailor-made for giant model service provider distribution networks and their prospects, and makes use of present firm and third-party transaction, fee and credit score information.
This enchancment is designed to extend buyer engagement and improve recurring transaction volumes.
IOU Pay Platform processes greater than 17 million on-line funds and client interactions each month, producing a recurring income move for the corporate.
Air Asia, AXA and Solar Life Monetary, Heineken and Courts are among the model names linked to the IOU Pay Platform.