ASX-listed Douugh Ltd (ASX: DOU), the award profitable fintech on a mission to allow extra environment friendly cash administration by means of its embedded finance platform expertise, have launched its Quarterly Actions Report for the interval ending 31 December 2023.

Immediately’s report highlights robust income progress achieved by Douugh, pushed primarily by its Embedded Finance (B2B) actions and its client app (B2C) mortgage origination and share-trading actions.

With over $7 million of shareholder capital invested into the expertise platform over the previous 36-months, Douugh has efficiently developed and deployed one of many trade’s most complete and multi-functional Embedded Finance options – generally referred to outdoors of Australia as Banking-as-a-Service (BaaS).

Designed not solely to ship key banking and investing capabilities in numerous areas throughout the globe, Douugh’s expertise stack is principally centered on enabling extra intuitive and environment friendly cash administration.

Initially deployed on a business-to-consumer foundation (B2C) in Australia and the USA below the “Douugh” model, Douugh has continued to capitalise on its expertise stack (and the shareholder capital invested in it), by making it obtainable by means of a ‘enterprise to enterprise’(B2B) mannequin.

This B2B mannequin, operated below the “Stakk” model, “powered by Douugh”, is now producing preliminary month-to-month revenues of ~$55,000. Though Douugh anticipate continued progress on this space, they assume shareholders will agree that preliminary revenues from this exercise are significant at this early stage.

In its modular kind, Stakk is a multi-functional providing, provided on an a-la-carte foundation, that features:

• Digital banking apps (native iOS, Android, and https white labelled apps)
• On-line Account Opening (KYC, AML, Fraud Monitoring, Credit score decisioning)
• Identification verification
• Account to account funds (together with RTP)
• Banking (and linked accounts)
• Debit and bank card issuing (and program administration)
• Checking and financial savings accounts (together with DDA and Pseudo DDA’s within the U.S Market)
• US share buying and selling
• Automated cash administration (budgeting, saving, investing)
• Instalment based mostly credit score
• Stockback rewards (cashback rewards program that’s transformed into shares)
• Service provider fee gateway

All performance is API (utility programming interface) pushed and complemented with sure Cell SDK’s (software program developer kits) for speedy deployment.

Maybe most notably although, this extremely environment friendly mannequin makes the Douugh Embedded Finance resolution interesting and accessible to Fintech suppliers, lenders, banks, credit score unions and constructing societies, mutual funds, and different manufacturers looking for such capabilities as a part of their Embedded Finance methods.

Complemented by the expansion of its mortgage origination actions (B2C), which noticed Douugh subject ~700 loans, equating to $102,000 in Q2, up from $53,000 in Q1. Douugh is happy by the industrial prospects of Stakk, and is now pursuing additional income progress from throughout the Australian market, in addition to by means of strategic partnerships in the USA.

Douugh appears to be like ahead to preserving the Market up to date because it achieves additional notable milestones, together with the anticipated full-market launch of its “Douugh Pay” resolution for Retailers, which is presently in Beta testing.

Commenting on the announcement, Douugh’s Founder and CEO Andy Taylor mentioned, “We’re delighted to announce a cloth improve in income following the roll out of our new (B2B) Embedded Finance division Stakk.

“As beforehand introduced, having invested considerably into R&D during the last 5 years, we’ve lengthy been assessing the deserves of white-labelling our expertise to different companies with a purpose to broaden our income profile, while reaching economies of scale and profitability sooner for the good thing about shareholders.

“We are actually beginning to reap the monetary advantages of this technique and we count on this to proceed as we broaden our gross sales pipeline and forge new strategic partnerships throughout Australia and the US.

“The Douugh (B2C) providing might be scaled up by means of Service provider partnerships as we roll out our new Douugh Pay gateway product to Retailers. We count on this to meaningfully contribute to buyer and income progress from This fall.

“We additionally made additional enhancements within the quarter and can proceed to cut back our overheads as a lot as attainable, while sustaining our skill to proceed to function and develop the enterprise.”