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  • Business analytics company 9 Spokes International (9SP) has teamed up with Clydesdale Bank for Virgin Money U.K.’s (VUK) working capital health proposition
  • Clydesdale is a subsidiary of Virgin Money, the U.K.’s sixth-largest bank
  • The parties signed a statement of work (SOW) to determine project scope for a working capital health proposition
  • The proposition is to help small and medium-sized businesses manage their performance and the project is expected to launch in the third quarter of 2021
  • On market close, 9 Spokes is up 20.1 per cent and is trading at 2.3 cents each

9 Spokes International’s (9SP) shares are in the green today after signing a framework services agreement with Clydesdale Bank.

Clyesdale is a subsidiary of Virgin Money U.K. (VUK), which owns Clydesdale Bank, Yorkshire Bank, and Virgin Money to form the U.K.’s sixth-largest bank.

The parties signed a statement of work (SOW) to determine the project scope for a working capital health proposition.

Under the SOW, the companies will explore the potential to participate in Virgin Money’s proposition: helping small and medium-sized businesses manage their performance.

The health proposition is expected to launch in the third quarter of 2021.

At the end of the first SOW, the parties will agree if or how the 9Spokes
platform will contribute to the working capital health proposition on an ongoing basis.

CEO Adrian Grant is delighted 9 Spokes has been announced as a Virgin Money platform partner for the proposition.

“Under the first statement of work we have signed, we are focusing on the scope of what can be delivered to enhance Virgin Money business as it launches its proposition this year,” he said.

“Virgin Money will be contracting through several phases, each phase subject to a specific SOW. While we cannot take for granted our on-going involvement, we are working closely with Virgin Money and we’re hopeful that this initial phase will demonstrate the capability and innovation of our platform,” he added.

On market close, 9 Spokes is up 20.1 per cent and is trading at 2.3 cents each.

9SP by the numbers
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