Economic uncertainty is a favourable market condition for Credit Intelligence

Credit Intelligence (CI1) is an ASX-listed fintech company experiencing tailwinds amidst the economic uncertainty of COVID-19 and a long-awaited market correction. 
Credit Intelligence (CI1) is an ASX-listed fintech company experiencing tailwinds amidst the economic uncertainty of COVID-19 and a long-awaited market correction.  CI1 offers a purpose-built platform for debt restructuring, lending, and insolvency management services. Requiring minimal staff, the platform records case data and changes to repayment plans, provides reporting features, accessible by creditors, and automates dividend distributions. CI1 is a well-established business in Hong Kong. It has handled over 13 000 bankruptcy cases for all the Hong Kong banks and financial institutions. The business remains strong under COVID-19 and the ongoing political unrest in Hong Kong.  Between half year 2018 and half year 2019, Credit Intelligence saw a 355% jump in its after-tax profits. For FY2020, the company expects an after-tax profit growth of 400%.  Last year, CI1 acquired two profitable companies in Singapore, ICS Funding and Hup Hoe Credit. ICS has since exceeded its profit guidance for the year and HHC is on track to do the same. CI1 is now investigating opportunities to expand both businesses. CI1 is now replicating its successful business model in Australia and is preparing to make its first Australian acquisition, Sydney-based debt negotiator, Chapter Two.  
“The whole world is in big financial trouble due to COVID-19. A lot of unemployment, the correction of the economy, and almost all countries will face a big risk of recession, including Australia so I think there’s a rising demand for the services of CI1,” says Executive Chairman, Jimmie Wong.   “I see a lot of market opportunity in the coming years because of the global economic downturn.”  
Watch the video to hear more about Credit Intelligence from Executive Chairman, Jimmie Wong.  Join the upcoming ‘Meet The CEOs’ webcast – Click here to book your spot. Recorded on 17 June 2020 at 12pm.      

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