Trading Update and Product Update
04/04/2022 07:00
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RNS Number : 0603H Eckoh PLC 04 April 2022
4 April 2022
Eckoh plc
("Eckoh" or the "Group")
Trading Update and Product Update
Integration of Syntec progressing well and trading in line for FY22
New multi-Cloud platform launched with Fortune 100 retailer
Significant product enhancements to customer engagement security suite
Trading update
Eckoh, the global provider of customer engagement security solutions, is
pleased to announce that the integration of Syntec, the payments solutions
provider acquired for £31m in December 2021, is progressing well. Syntec's
contribution to revenue and profits in the three months since acquisition are
expected to be consistent with management's projections at the time of the
transaction, and the initial steps towards realisation of market, product
portfolio and cost synergies are proceeding on plan.
The Group expects results for the year ended 31 March 2022 to be in line with
consensus market expectations* and will provide more detail in its pre-close
trading update in early May 2022.
* Eckoh believes that consensus market expectations for the year ending 31
March 2022 are currently revenue of £32.1 million and Adjusted Operating
profit of £4.9 million.
Product update
Eckoh has started the new financial year by announcing significant
enhancements to its customer engagement security portfolio to assist
organisations in protecting their customers' payment and personal data in more
efficient and diverse ways.
· Launch of a new Azure Cloud platform with a Fortune 100 client
· Updated Eckoh Live Chat and ChatGuard boasts a new, fresh and more
intuitive interface
· The market leading CallGuard product has two exciting new extensions
for very distinct needs
· Digital payment product Pay by Link is now available globally
· Speech recognition language models for payments extended
significantly with new contract
These developments support Eckoh's strategic goals to capitalise on the
structural developments in the global market and to use Cloud technologies to
develop and enhance our proprietary solutions whilst maintaining a market
leading position for customer engagement data and payment security.
Cloud Platform extended into Azure
As announced in our full year results in June 2021 we have been investing in
extending our Cloud platforms and security capabilities. To date we have
deployed our global Cloud solutions exclusively on Amazon Web Services
("AWS"), however, it has always been our intention not to be single threaded.
To that end we have just launched a new platform in Microsoft Azure that will
enable us to provide the same customer engagement security portfolio as we do
in AWS, thereby giving our customers a choice of Cloud provider, which is a
sensitive decision for many enterprises. This new offering will see Eckoh as
the only provider in our sector to have multiple Cloud options.
Our first customer to be deployed on the new Azure platform is a US
headquartered retailer in the Fortune 100 who are expected to go live in the
coming weeks. This is a new 3-year contract that is also expected to extend
into other geographies and other Eckoh security propositions during this year.
Live Chat and ChatGuard
Eckoh's Live Chat product is used by large enterprises that need the most
versatile customisations and integrations that off-the-shelf Chat products
cannot provide, with the ability to scale to support the largest and most
demanding requirements.
With a new redesigned interface based on extensive client feedback, agents and
customers can now enjoy an even slicker and more convenient experience that is
fully Cloud-hosted, allowing for sudden and significant fluctuations in
demand. And with Eckoh's unique and patented product ChatGuard built-in as
standard, organisations can take fast in-chat payments with the reassurance of
full PCI DSS compliance, the only chat service to offer this capability. This
updated version of the product is available from April globally and is
expected to add significant value to the consumer proposition.
CallGuard Express
CallGuard Express is designed to make compliance and security straightforward
for any business. It offers companies of any size the same security
functionality and credentials of CallGuard, but without the customisation and
managed service that larger companies often require. This enables Express to
be quick to deploy, simple to use and with a lower-cost entry point. As well
as standalone businesses this new proposition is also available to resellers
through a partner program, enabling them to switch on new clients within days
and with no integration required.
CallGuard On-Demand
In response to the increasingly rigorous Payment Card Industry Data Security
Standards ("PCI DSS"), Eckoh has developed an on-demand option for
organisations who may have low or variable volumes of payments, but still
require the reassurance of full compliance. This enhancement gives the contact
centre agent the ability to invoke CallGuard only when a payment is taken,
rather than all calls needing to traverse through the system.
Pay by Link
Blending digital security with live person interaction, Eckoh's Pay by Link
can be extended to any customer engagement channel. Organisations that want an
omnichannel method of taking payments can now provide their customers with a
secure payment link that offers traditional card payment or popular
alternative payment methods like PayPal, ApplePay or GooglePay. Pay by Link is
now available globally through Eckoh's multi-Cloud platforms, the latest
addition to the broadening security product range that is facilitating greater
opportunities for cross-selling into Eckoh's extensive client base.
Speech technology expansion
Eckoh has a long and successful history of speech-based applications and is
leveraging that knowledge with enabling even more languages for the speech
option in our security solutions. A new 5-year contract, which was a
significant cross-sell into a Syntec account, will see 18 different languages
being implemented across the global estate of an international travel
business.
Nik Philpot, Chief Executive Officer at Eckoh, said:
"I am pleased to announce that Eckoh expects results to be in line with
consensus market expectations and we are making good progress with integrating
Syntec, our transformational Secure Payments acquisition.
Eckoh is always looking for new ways to make the payment experience for
customers and contact centres quicker and more satisfying, but without
compromising security. At a time when card-not-present payment fraud is
accelerating and many agents are now permanently working from home, tighter
security is necessary for any business that needs its agents to take payments
without risk.
Our long history of working alongside leading organisations from different
industries has taught us that one size does not always fit all, and our
decision to deploy and offer an alternative Cloud platform is a perfect
example of that flexibility. We have succeeded in producing market-leading
payment security products that are flexible, easy to use, adaptable across any
customer contact channel, and compliant with the highest security standards.
Our latest enhancements and additions provide organisations with even more
comprehensive options, and ensure that Eckoh's portfolio remains best in
class."
ENDS
For further information please contact:
Eckoh plc Tel: 01442 458 300
Nik Philpot, Chief Executive Officer
Chrissie Herbert, Chief Financial Officer
www.eckoh.com (http://www.eckoh.com)
FTI Consulting LLP Tel: 020 3727 1017
Ed Bridges / Jamie Ricketts / Tom Blundell
eckoh@fticonsulting.com
Singer Capital Markets (Nomad & Joint Broker) Tel: 020 7496 3000
Shaun Dobson / Tom Salvesen / Alex Bond / Kailey Aliyar
www.singercm.com (http://www.n1singer.com)
Canaccord Genuity Limited (Joint Broker) Tel: 020 7523 8000
Simon Bridges / Andrew Potts
www.canaccordgenuity.com (http://www.canaccordgenuity.com)
About Eckoh plc
Eckoh is a global provider of customer engagement security solutions,
supporting an international client base from its offices in the UK and US.
Our secure payments products help our clients take payments securely from
their customers through multiple channels. The products, which include the
patented CallGuard, can be hosted in the Cloud or deployed on the client's
site and remove sensitive personal and payment data from contact centres and
IT environments. They offer merchants a simple and effective way to reduce the
risk of fraud, secure sensitive data and become compliant with the Payment
Card Industry Data Security Standards ("PCI DSS") and wider data security
regulations. Eckoh has been a PCI DSS Level One Accredited Service Provider
since 2010, securing over $5bn in payments annually.
Eckoh's customer contact solutions enable enquiries and transactions to be
performed on whatever device the customer chooses, allowing organisations to
increase efficiency, lower operational costs and provide a true Omnichannel
experience. We also assist organisations in transforming the way that they
engage with their customers by providing support and transition services as
they implement our innovative customer contact solutions.
Our large portfolio of clients come from a broad range of vertical markets and
includes government departments, telecoms providers, retailers, utility
providers and financial services organisations.
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