I should also add that IF OCBC didn't renew based on lack of business to client relationship (or too little too late)... it would explain the lack of progress updates in regards to OCBC
This directly also relates to the void of news on BoA... if we are not updating the market on how this relationship is helping BoA's SMBs... does that mean it isnt?
At least with BNZ we were provided with the update that their customers were switched from an "opt in" to "opt out" - meaning that uptake was not great at the time of switch... either due to BNZ (& 9SP) not marketing the product to their own client - or - the pricing model for use from 9SP was switched from a "per user" to "all in subscription"
Winning new clients will not save 9SP if they cannot retain and grow what they have already won...I know I am traditionally conservative/pessimistic here - but its getting hard to maintain a long view when they seem to keep missing the mark.
Might throw a speculative call that CGS-CIMB may have known that this renewal was not going to occur and hence their exit... purely a rear view mirror call... but history of leaky ships here.
