Intelligent Environments appears to have lived up to the first part of its name with the revenue model it has in place with a growing number of customers.
Not only does it take a small one-off fee each time a consumer submits an application online for one of its customers' card or bank account products, but the company also takes an annual fee for each customer that agrees to be serviced purely online.
As more people eschew the paper statements in an effort to be green, they are also saving the bank a significant amount of money, which is how the bank can afford to pay IE.
If the company can help its bank customers address some of the shortfalls of being serviced purely online (namely the lack of significant archiving of transaction records and statements) it should continue to grow this nice, stable revenue stream.
© Finextra Research 2014