..


Money

  • Written by Rick Willis


Fintech payments company Credit Clear has launched a $10M Series A capital raise to expand its disruptive payment software-as-a-service (SaaS) business into the US, UK and Asia.

 

Co-founded by one of Australia’s most prominent property developers, Mark Casey, and Lewis Romano, who successfully launched one of Australia’s largest recruitment business SpotJobs, the capital raising comes off the back of major contracts with leading financial institutions. The raise is being led by group CEO and former principal of one of Australia’s fastest growing credit funds, Brian Osborne.

 

Launched in July 2017, Credit Clear is a disruptive technology that houses unique tools and business intelligence to maximise payments for clients. Replacing traditional paper invoicing and collection processes with digital invoices and instant ‘one-step’ payment options. Credit Clear’s solution is entirely mobile and delivers smart payment plans that can be tailored to individual consumers, allowing them to seamlessly select a payment amount, and start date that suits them.

 

Credit Clear’s cutting edge technology has revolutionised collection models for a growing list of enterprise clients including major financial institutions, telecommunication, utilities, government and property agents. Following implementation of the Credit Clear technology, clients have reported up to a 500% increase in traditional collections and up to 200-times ROI.

 

Credit Clear recently appointed Simon Scalzo, former CEO of ‘buy now, pay later’ fintech Openpay, as Managing Director, to lead the global expansion.

 

Mr. Scalzo said: “These early outcomes highlight how fintech’s are overcoming the huge disconnect between the service offerings of traditional processes and the demands of today’s consumers.

 

Our technology has rewritten best practice, companies need to be looking at their current receivable processes, and make more relevant payment options available to their customers if they are to meet the growing need for flexible, mobile and simple payment processes,” he said.

 

The core of Credit Clear’s product is a sophisticated machine-learning engine, programmed to individual customers profiles, drawing from over one million users, who have currently utilised the payments engine, it decides the optimum time/day to send tailored communication and via the most appropriate platform (SMS, email or I.M.) that best suits the consumer.

 

Our Artificial Intelligence (AI) technology is being used to maximise payments by understanding the behaviour and attributes of our customers. The systems intelligence also extends to automatically translating communications into the user's default language, generating some very powerful results as english isn’t everyone's first language”,” continues Mr Scalzo.

 

Credit Clear’s decision engine also tailors wording used for each communication based on the user's profile. The systems machine learning extends to prioritising and escalating communications based on users interaction with each communications. This deep of understanding of client’s customers makes collections efficient and cheaper, at the same time providing new and easier ways to manage customer payments across all phases of the repayment cycle.”

 

The idea behind our smart payment plans system was to speak to people's values, rather than wielding a big stick. Our technology does this by delivering a seamless, non-invasive service, allowing the users to create a payment arrangement that suits their financial needs.”

 

Credit Clear has attracted the support of some of APAC’s leading technology executives who join its Advisory Committee, including Neal French, Head of Chrome & Android for Work – Google APAC & Japan; and Stephen Borg, Global CDO AOPEN Group.

 

We have developed an exciting fintech offering with multiple future applications, that doesn't need to manage a traditional loan book or carry that associated business risk, yet generates revenue and customer intelligence. Businesses and end-users are gravitating toward Credit Clear because it approaches an old problem in a distinctly new way”, Mr Scalzo said.”


About Credit Clear

Launched in July 2017, Credit Clear is a disruptive technology that houses unique tools to maximise payments for creditors. Replacing traditional paper invoicing systems with digital invoices and instant ‘one-step’ payment options, Credit Clear’s solution also delivers smart payment plans that can be tailored to individual customers, allowing them to seamlessly select a payment amount, and start date that suits them.

Key features for businesses include:

  • Anytime, anywhere - Our location engine ensures messages are sent and arrive in your customer’s local time zone anywhere in the world.

  • Speak their language - Our end user language decision engine identifies your customer's language default setting in their mobile phone and auto translates accordingly.

  • Smart, time-based messages - Tailored smart messages, which allow discounted repayment amounts if customers pay the full amount within a given time frame.

  • Let us lead the way - Our A.I. engine automatically recommends the platform (SMS, Email or IM), Time and wording for every communication based on the customer's profile. Our A.I. will also decide on next steps based on customer's activity.

  • It's in our DNA - Security is built into the DNA of the entire Credit Clear cloud platform.

  • Business intelligence - Our real-time bespoke dashboard monitors how your customers are using the application and provides live marketing and user insight.

 

 

Politics

Union demands paint a bleak future under Shorten

It’s time for Bill Shorten to come clean and rule out extreme changes to Australia’s industrial relations laws that would wind the clock back to the strike-torn Whitlam era.   As the ACTU prepares...

Doorstop at AKD Sawmill with Trevor Ruthenberg, LNP Candidate for Longman

MR TREVOR RUTHENBERG, LNP CANDIDATE FOR LONGMAN: Well morning folks. Welcome to Caboolture, welcome to Longman. This is a fantastic day for local jobs. This is a fantastic day for our community. ...

Australia’s resource and energy export figures are on track to set a new record

Resources and energy exports setting NEW records   Australia’s resource and energy export figures are on track to set a new record of $226 billion in 2017–18 – and go even higher this year – accor...

Business News

Top Tips if You’re Thinking About Quitting Your Day Job and Starting a Small Business

Are you fed up with working for another person and long to be your own boss? Do you think you’d like to take over a local business that’s up for sale? Would you like to make your hobby into somethin...

What is the best structure to use when starting up a business

Coco Hou, tax specialist and accountant, has shared her advice for people who are starting up their own businesses, setting up side gigs, or moving into consultancy work. The start of the new financ...

Leading Employment Firm in WA 2018

Only a certain few start their careers as the boss. For most of us, we get employed by companies and in most cases, we never really find the need to hire employment lawyers. But if we do, hiring an ...

Travel

Adina Apartment Hotel Brisbane

TFE Hotels has opened the doors of the spectacular new Adina Apartment Hotel Brisbane, which offers stunning views over the Brisbane River and awe-inspiring interiors that transport guests back to t...

Winter In Rotorua: Things To Do

While many travelers consider the summer months to be the prime traveling season, there are thousands and thousands of travelers who love to take to their campervan hire australia journeys when the ...

Discover Hong Kong Your Way With Ecruising

From July – November 2018, Ecruising in partnership with Hong Kong Tourism and Royal Caribbean, including Azamara and Celebrity Cruises are offering travellers new and exclusive cruising itinerari...

You might also like