As part of its international expansion strategy, Credit Clear (ASX: CCR) has secured an agreement to roll-out its account receivables digital technology across select clients within global financial company Centriciti Techub’s (Techub) multi-billion-dollar portfolio.
The roll-out is part of a global partnering and teaming agreement between Credit Clear and Techub, which is a South African-headquartered global contact centre service provider.
Part of the GB Group of companies, Techub provides financial recovery, technology solutions and business process outsourcing to the financial services industry worldwide.
Techub’s services include contact centre solutions for sales, customer experience, surveys, claims management, IT support and share services.
Credit Clear noted Techub has a global blue-chip client base of banks, retailers, utilities and telecommunications companies, with strong representation across South Africa, the United Kingdom and the United States.
Credit Clear and Techub partnership deal
Under the agreement, Credit Clear’s digital platform will be deployed across several of Techub’s existing account receivable portfolios, valued at a minimum of $50 million and up to $100 million on a rolling three month-basis.
Following the initial three-month period, Techub will then identify and select portfolios across the remainder of its account receivables – with the total pool of receivable for Credit Clear to pursue amounting up to $1 billion.
The initial portfolios under consideration include Techub’s clients in the US and UK and other international markets.
Credit Clear will deliver ongoing remote support for the platform from Australia.
Techub will provide a commission on all payments made across the portfolios Credit Clear manages.
In addition to the partnership deal, Credit Clear and Techub have agreed to jointly pursue new business opportunities in international markets.
Techub has exclusive rights to Credit Clear’s technology in Africa and non-exclusive rights in other international markets.
Any revenue won under the teaming arrangement will be shared equally.
Credit Clear chief executive officer David Hentschke said the company has flagged international expansion as a “strategic growth priority”.
“The partnering and teaming agreement with Techub delivers our most significant international opportunity to-date.”
“The agreement allows for a deep and meaningful partnership, where Credit Clear’s industry leading digital platform, which incorporates behavioural analytics and adaptive workflows will be put to work across multiple campaigns within Techub’s multi-billion-dollar account receivables portfolio.”
Mr Hentschke noted the agreement with Techub enabled Credit Clear to launch into new markets without the need for any significant set up or platform modifications.
“The results we’ve produced in Australia by applying our digital platform, with its cutting edge, optimisable workflows and behavioural AI, have demonstrated the enormity of the global opportunity.”
“Applying our technology to Techub’s multi-billion-dollar portfolio of account receivables is exactly how we envisaged the pathway to global expansion and scale,” Mr Hentschke added.