Despite rising cost-of-living pressures which would typically be favourable to debt recovery businesses, Credit Intelligence (ASX: CI1) has recently issued a profit warning for FY23, citing struggles from their buy-now-pay-later and SME lending businesses. The warning forecasts a significant net loss of $1.5 million, reflecting a 165% decrease compared to the previous year’s net profit
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It’s been tough sledding for the buy-now-pay-later (BNPL) sector over the past 12 months and even at the smaller end of the scale, debt recovery company Credit Intelligence (ASX: CI1) has not been immune from rising expenses which has resulted in a 70% profit downgrade warning. Fortunately for Credit Intelligence, which operates a BNPL platform
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Debt management company Credit Intelligence (ASX: CI1) has become the latest financial service provider to enter the BNPL sector with the launch of YOZO Pay which has commenced lending to business owners, offering flexibility and transparency. The launch of YOZO Pay is an extension of Credit Intelligence’s primary services where the profitable company’s operations have
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Debt management company Credit Intelligence (ASX: CI1) is broadening its service lifecycle by entering the SME financing sector through a 60% investment in financial services company YOZO Finance. The investment will enable Credit Intelligence to increase its exposure to the financial services sector, specifically lending, where their primary operations currently focus on debt management and
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With apologies to Charles Dickens, it’s the best of times or the worst of times for the receivables management industry – known in less polite circles as debt collectors. Broadly speaking the sector’s fortunes are inversely correlated to the economy, so swelling unemployment and consumer and business stresses imply rosy fortunes. But too much misery
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With financial hardships brought upon as a result of COVID-19, debt management company Credit Intelligence (ASX: CI1) is set to expand their exposure to Australia’s high levels of personal debt via the 60% acquisition of debt negotiation business Chapter Two Holdings (CTH). Listing on the ASX in 2018 but primarily operating in Hong Kong’s credit
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