The YOZO Pay platform is a ‘truly unique offering’ in the Australian BNPL market.
Fintech platform Credit Intelligence (ASX:CI1) is officially live with its leading BNPL platform for small businesses.
Investors responded well to the announcement, as CI1 shares rose to as high as 13c at the opening bell.
That marked an intra-day return of 73 per cent (and a year to-date gain of more than 300 per cent), before the stock settled in a trading range at around 9c for a morning gain of ~20 per cent.
The YOZO Pay service leverages AI and machine learning to help businesses manage their payments and improve cash flow.
And CI1 managing director Jimmie Wong said the offering is “totally different from other personal BNPL products being offered in Australia right now”.
With its entry into Australian marketplace, the platform will offer Australian businesses a number of unique features including flexible repayment instalments and same-day loan approvals.
YOZO Pay was developed by a team of leading researchers at the University of Technology, Sydney (UTS) who used their knowledge of AI and advanced computing systems as the basis for an improved business payments solution.
For small-to-medium enterprises (SMEs), one of the keys to business success is cash flow management.
On that front, YOZO Pay offers clients a BNPL solution with the inbuilt flexibility to choose their own repayment dates so as to better align with business cash flows.
Through its proprietary AI engine, the YOZO Pay platform also has the capacity to calculate lending facilities and issue quick loans with a same-day turnaround based on the inputs from registered customers.
Once clients have become established on the platform, the AI function also has the capacity to adjust borrower limits without the need for cumbersome loan reapplications.
In addition, YOZO Pay issues loans based on the relevant metrics of its clients – cash flow and revenue – removing the need for customers to use additional assets for collateral such as real estate.
The YOZO Pay feature set gives Credit Intelligence a leading platform with the opportunity to disrupt the Australian market for business lending.
In describing its competitive advantage, Wong said the platform is not only aligned with the operations and cashflow of the business, but is also faster, cheaper and more transparent for the SME owner to use – allowing them “more time to focus on the day-to-day running of their business”.
As it gains traction in the market, YOZO Pay can also leverage the intellectual property advantage of the UTS research team led by Dr Guangdong Xu, who holds the position of director at the School of Computer Science & Advanced Analytics Institute.
“The company is continuing to collaborate with UTS to further leverage their AI engine to develop new features like ‘24/7’ loan approvals, to be able to provide support for SMEs outside of normal business hours,” Credit Intelligence said.
This article was developed in collaboration with Credit Intelligence, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.