The investment trends report over the years has shown COIN's market share has deteriorated as the system has struggled to keep up to pace with the industry's needs (a good example of this would be the fact that they were late in providing a FOFA compliant solution - needed to have been ready much earlier). The system has a good reputation for producing quick SOAs but the data or modules behind the SOA could be be a lot better.
If you dig deeper you will note that aligned dealer groups of COIN's biggest clients (e.g. CBA or Macquarie)have made the move towards the XPLAN platform in the past 12 months.
RFL is a positive in COIN's future, and things may turn around once they release their 're-booted' solution, but the problem is that wealth management clients are 'sticky' and dealer groups are effectively buying into an eco-system that they invest heavily into and there would be a degree of reluctance to make a move.
Irrespective of what happens on the COIN front, if I was looking to invest then the bank-in-the-box solution is certainly something that would have my attention.
RFL Price at posting:
27.0¢ Sentiment: None Disclosure: Not Held
