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- Credit Clear (CCR) deploys its digital platform in South Africa, the first time in an international market
- The platform was operational after signing a partnering and teaming agreement with Techub in November 2021
- In terms of the agreement, Techub leverages Credit Clear’s technology platform to digitise its offering commencing with the migration of its existing multi-billion dollar client portfolio for which the company receives ongoing commissions
- The platform’s highly automated service offering demonstrates the company’s ability to rapidly scale the digital business into new global markets, says Credit Clear
- Shares in Credit Clear were up 12.94 per cent to $0.48 as of 12:39 pm AEST
Receivables management provider Credit Clear (CCR) has deployed its digital platform in South Africa, the first time in an international market.
The platform was operational after signing a partnering and teaming agreement with Techub in November 2021.
Techub will leverage the platform to digitise its offering, beginning with the migration of its existing multi-billion-dollar client portfolio for which Credit Clear will receive ongoing commissions.
The deployment occurred five months from signing the agreement and the platform’s highly automated service offering demonstrated the company’s ability to rapidly scale the digital business into new global markets.
“In addition to our growth in Australia, CCR is now able to simultaneously and very efficiently scale internationally with its highly automated technical capabilities, matched with a commission fee revenue model,” CEO Andrew Smith said.
Credit Clear’s teaming agreement covers the onboarding of new direct Techub clients that utilise the digital platform under which revenues are split equally.
Since deployment, Techub has elected to fast-track the platform’s rollout to its US$1 billion (A$1.34 billion) debt portfolio, dispensing with the planned three-month $100 million pilot.
Credit Clear also faces the possibility of deployment in other regions, such as the United Arab Emirates and Southeast Asia, after Techub’s holding company CSS Group received a “strategic” investment from iSON Xperiences, Africa’s largest BPO service provider.
“News from Techub about iSON Xperience’s strategic investment in its holding company, provides our Techub/CCR partnership with direct and immediate entry into new markets and sectors,” Mr Smith said.
“I look forward to working very closely with the Techub team in South Africa, taking our joint offering to global markets.”
The cumulative total of the Techub clients migrated to the platform are expected to represent a material increase in Credit Clear’s revenues in the next 12 months.
Shares in Credit Clear were up 12.94 per cent to $0.48 as of 12:39 pm AEST.
