Show me a provider in this space that don't use outside provider technology. The whole industry has been built around a combination of inhouse and o/s software.
Look at Westpac. Rumour has it spent over 600million building Panorama using Avaloq. That will require huge fee revenues to recoup the spend where the industry margins are very tight.
The issue here is no growth because they can't sell and win business. IMO
Lets hope a capable executive team can be assembled and a restructured board can turn this ship around.
MGP Price at posting:
13.0¢ Sentiment: Hold Disclosure: Held
