Ann: CCR Q4FY22 ACTIVITY REPORT AND APPENDIX 4C, page-23

Great post and fully agree.

A few things I would add

1. The product is white labelled with their clients logo which means the customer feels like/is dealing directly with the clients, a better feeling than dealing with a third party message which you would get from a competitor like Indebted.
2. The AI and champion challenger will get better and better uplift as machine learning improves.
3. I think the main competitor is Indebted which is a platform , who offer digital communication with AI whereas CCR is more of software as a service (make an offer, hardship applications, QR Codes, invoice are attached to messages). For instance with Indebted they receive the money and then remit the money to the customer. So the onboarding process would be minimal but with Indebted you need ongoing communication to work out who has has paid. CCR is linked to your payment gateway so you know instantly who has paid.
4. Indebted focus is also on BNPL clients as being a platform it cant offer the intricates such as the above offering whereas CCR can cater to a wider market utilities , government departments tec.
5. In terms of stickiness I believe they have lose very few customers over the years , I don't think because of hassle but because of their superior product offering.