TIDMECK
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 GBP31m 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 GBP32.1 million and
Adjusted Operating profit of GBP4.9 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."
S
For further information please contact:
Eckoh plc Tel: 01442 458 300
Nik Philpot, Chief Executive Officer
Chrissie Herbert, Chief Financial Officer
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
Canaccord Genuity Limited (Joint Broker) Tel: 020 7523 8000
Simon Bridges / Andrew Potts
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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