Intelligent Environments thrives as banks look to attract retail deposits

Intelligent Environments thrives as banks look to attract retail deposits

UK customer relationship management outfit Intelligent Environments (iE) is reporting strong growth in recurring revenues for 2008 and a solid order pipeline for 2009 as demand intensifies for software products to attract retail deposits.

In a trading update for the year ended 31 December 2008, iE says it expects full year revenues to be in line with market expectations, reaching £6.4million, four per cent ahead of 2007. Margins have also improved in 2008, with associated profit for the year "well ahead" of that recorded in 2007.

Further progress was made in the second half of 2008, reports the group, driven by a 45% increase in recurring revenues and increasing demand for software that enable banks to quickly launch new products and brands online.

In line with this shift in marketplace priorities, iE doubled its R&D spend to £700k in 2008 and launched a new version of its online content management system.

States the company: "These developments have been well received by potential customers and in the second half of 2008 we secured three new contracts with customers drawn from both the consumer finance market and the savings and investment market."

As a result, revenues are expected to increase by 15% compared to the first half of 2008, and by 10% when compared to the corresponding period last year.

The vendor further says its cash position has remained positive with net cash of £1 million, despite a move by some of its larger bank customers to extend their payment terms to 60 days.

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