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BNZ won't renew contract with fintech 9 Spokes

Ben Moore
Mon, 20 Jun 2022

BNZ won't renew contract with fintech 9 Spokes
BNZ signed a two-year contract for 9 Spokes' small business platform in 2020. (Image: Depositphotos)
Ben Moore
Mon, 20 Jun 2022
Auckland-based 9 Spokes International is about to lose another cornerstone customer after BNZ chose not to extend its contract with the ASX-listed fintech.The agreement, which accounts for almost 12% of 9 Spokes’ annual recurring revenue, will end on Oct 28, the fintech said in a statement to the ASX.BNZ's exit is 9 Spokes' second major customer to leave in the past 12 months, and comes as the fintech looks for new income streams or fresh capital to keep its operation going. The company's ASX-listed shares were voluntaril...

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