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- Business analytics company 9Spokes (9SP) has signed a two-year contract renewal with the Bank of New Zealand (BNZ)
- Under the extension, 9Spokes will continue providing MyBusiness Live, which is BNZ’s white-label 9Spokes platform
- Since the launch of the platform with BNZ last year, a number of innovative banking tools have been added to support small and medium businesses
- Recently, the bank added auto-provisioning where customers are automatically signed up to the platform to improve their banking experience
- Over the next two years, BNZ and 9Spokes aim to offer new features which may include more apps and access to lending services
- Company shares have dropped 10 per cent to trade for 2.7 cents
9Spokes (9SP) has signed a two-year contract renewal with the Bank of New Zealand (BNZ).
9Spokes will continue to provide MyBusiness Live, which is BNZ’s white-label 9Spokes platform. The platform helps small and medium businesses (SMBs) track performance through data insights.
Since the launch of the platform with BNZ in November 2019, MyBusiness Live has introduced 9Spokes Engage and 9Spokes’ in-life marketing program and content hub. The platform also comprises Connect which is a revenue-generating app marketplace.
Recently, the bank introduced auto-provisioning where customers are automatically signed up to the platform to complement their banking experience.
“BNZ was the first of our banking partners to migrate to V2 and was our launch partner for 9Spokes Engage, including the BNZ Content Hub, a rich repository of knowledge and resources for small businesses,” 9Spokes CEO and Co-Founder Adrian Grant said.
The extended two-year term allows 9Spokes to continue evolving its platform with BNZ.
So far, MyBusiness Live has been successful in driving deeper engagement with customers, reduce portfolio risk and improve cost-to-serve for the bank through more ‘holistic’ customer relationships.
“The renewal of the contract demonstrates the value of our services to BNZ and its customer base. It also allows us to continue to work with the bank to develop and introduce leading-edge banking tools, such as Monitor for bankers,” Adrian added.
Over the next two years, BNZ will focus on introducing new features and capabilities to MyBusiness Live. This may include more apps, more access to lending services and the ability for clients to utilise and buy apps they may not have.
“When we initiated our relationship with 9Spokes in 2018, we saw it as an early-stage opportunity. We’re evolving the platform with 9Spokes, providing value to our customers, particularly now as we navigate the challenges of COVID-19,” BNZ General Manager of Growth and Performance Karna Luke said.
Importantly, the companies recognise COVID-19’s role in the current demand for digital ecosystems. BNZ and 9Spokes are dedicated to being at the forefront of the shift to a robust digital economy.
Company shares have dropped 10 per cent to trade for 2.7 cents at 11:11 am AEDT.
