Bank of New Zealand goes live with 9 Spokes’ platform for small and medium businesses

9 Spokes ASX 9SP Bank of New Zealand BNZ
Bank of New Zealand is the third bank to go live with 9 Spokes’ platform.

Bank of New Zealand (BNZ) is the third bank to go live with 9 Spokes’ (ASX: 9SP) white label platform, enabling small and medium businesses to access a comprehensive view of their performance in one place.

The partnership between BNZ and 9 Spokes has resulted in a platform that incorporates key business data and BNZ’s core banking information.

This information is then accessible in one place to small and medium businesses – giving them a comprehensive view of performance.

“We are delighted that BNZ has launched the 9 Spokes platform for its small and medium business customers,” 9 Spokes co-founder and chief executive officer Adrian Grant said.

“To now see the dashboard launched in our home market is a pivotal moment for 9 Spokes and all our employees in New Zealand.”

“The market launch of the BNZ service underscores the gains we have continued to make in efficiently and seamlessly integrating the small business platform into the customer journeys of leading banks around the world,” Mr Grant added.

9 Spokes platform

According to 9 Spokes, its platform collates and stores business data so companies can more easily see their progress against the things that matter the most to their business.

It works by businesses connecting their cloud software to 9 Spokes to get a picture of their performance via a smart dashboard.

“It’s easier to make the big and small decisions required to manage and grow their business effectively,” 9 Spokes claims.

Uptake continues to grow

Uptake of 9 Spokes’ platform continued growing during the March 2019 quarter, with the company’s user base surpassing 95,000 – a 19% increase on the December quarter.

Banking partners have delivered about 60% of that user base.

In addition to boosting users, 9 Spokes collared a co-sell partnership with Microsoft at the beginning of March.

Under the Microsoft One Commercial Partner program, Microsoft’s sales team will be incentivised to co-sell the 9 Spokes platform into key global banking communities, offering 9 Spokes another channel to grow its user base.

Later in March, 9 Spokes inked a collaboration agreement with Visa US, which provides a basis for both entities to work together on mutual areas of interest.

Shareholders were positive about this morning’s news, with 9 Spokes’ share price rocketing 62.5% to $0.026 by late morning trade.

Lorna has more than 10 years' experience as a finance journalist and editor. She has written for numerous industry publications reporting on various sectors, including: resources, energy, construction, biotech, pharma, science and technology, agriculture, and chemicals. Specialising in resources, Lorna has also covered a myriad of small and large cap ASX and dual-listed stocks.