Credit Intelligence Share Price Spike 7% Higher, Here’s Why (ASX:CI1)
Microcap fintech stock Credit Intelligence Ltd [ASX:CI1] share price is on the up today. The share price has reached 1.4 cents at time of writing, up 7.69% for the day.
A decent move for the $29 million market cap stock.
As for why, well it is because the company is close to releasing its new app. A platform that Credit Intelligence is hoping will make it a new contender as a buy now, pay later (BNPL) provider for SMEs.
Let’s see what management had to say…
OneFlexi readying itself for a fresh debut
As Credit Intelligence notes in today’s update, their acquisition of OneStep Information Technology is hopefully about to pay off. Finalising development and preparing testing for their new OneFlexi app in mid-August, ahead of a mid-September release.
So, what is OneFlexi?
It is essentially a one-stop-shop for SME loans and BNPL services. Utilising its in-built credit rating system to evaluate and approve clients. All of which will be made available to Hong Kong businesses in the coming weeks.
Offering a swathe of financial services to those interested. And as management notes, higher credit ratings attract additional benefits:
‘High credit SMEs are privilege to extra BNPL and withdrawal limit, and extended instalments period [sic]. At current proposed settlement schedules, clients could choose 3 months, 6 months or 12 months for settlement.’
All of which will be contained in their sleek new app. Which Credit Intelligence and their shareholders are clearly hoping will be a fan favourite.
Time will tell if they can deliver.
What’s next for Credit Intelligence?
As we’ve already noted, the immediate focus for Credit Intelligence is the testing and release of OneFlexi. A goal that they hope to wrap up in the next month or so.
With that in mind, it is no doubt going to be a busy period.
For shareholders though, the real focus will be what comes after the release. With investors no doubt looking to see strong take-up and growth in users.
The first step for this tiny fintech is to start making a name for itself in the bustling sector. A speculative stock with a speculative future.
If, however, you’re looking for companies with a little more substance to them — the kind of stocks that have established themselves at least somewhat, then Credit Intelligence may not be for you.
Fortunately, we do have an alternative…
Our latest small-cap report covers four overlooked and primed picks to consider right now. The kind of stocks that may be set to rocket higher in the coming months. And you can read all about them for free, in the full report, right here.
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