I couldn’t quite clearly understand the first layer that the management is talking about.
Banks basically use this as a way to administer the benefits that have been given to the end consumers.
^ Agreed.
Still the question is does bank really need their platform? Cannot bank get this information when the card is swiped at a lounge/golf/spa ? Or may be Dreamfolks have something to do with card swipe machines which are used?
and this is the main platform on which all the usage, the spend, and everything is getting tracked
banks are using this technology to also drive a lot of their spend based models
and the usage-based models.
^Didn’t get this part.Doesn’t banks already have customer spend information. What spends are they talking about ?
And they spent 5.5 crore to develop it. The cost seems high for a simple software to manage logins.
And any other company who wants to build such tech can easily build it very quickly and at low cost.
To me it seems like there is no big moat in the business. Its just that there is very less competition in the space right now.
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