Id8 software for the record is being used as we speak in multiple banks.. They will win more deals and probably surprise with a few of them, That would be a minimum expectation. 2022 was a soft year so 2023 will need to be greatly improved.
Whether they can scale it is unknown. Again the biggest competitor is the bank themselves. This isn't an Afterpay times 1000s in the space situation. You are right in that the software is hard to probably sell as Priority to show there current systems are messed up wouldn't be number 1 priority.
In saying that though, they wouldn't probably need a massive market share, they would need a good amount, the software is fairly sticky once implemented. Dont forgot you have HSBC using the tech as well as Mastercard. Worse case here someone like a MYOB will buy the tech. This would be as easy takeover target on any actual momentum in the business.
They are selling this software way to cheap. Imo the software should be 3x minimum. But on scale you would imagine that's the move.
ID8 Price at posting:
3.7¢ Sentiment: Buy Disclosure: Held
