News and Announcements
DomaCom (ASX: DCL) Creates Strategic Partnership with IRESS
- Published December 25, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
KEY TAKEAWAYS:
- DomaCom entered into a strategic partnership with IRESS, a leading Australian fintech company, in order to integrate its platform with the fractional investment plan.
- This partnership is expected to boost DomaCom’s revenue that had fallen during the quarter ending 30th September 2017, by providing a much wider exposure and enabling clients to build a quality portfolio.
According to DomaCom’s CEO, Arthur Naoumidis, this deal is significant because it meant integrating with XPLAN, which is the most popular software package and accruing its multiple advantages.
DomaComAustralia Limited (ASX: DCL) announced that it had struck a strategic partnership with IRESS, a fintech entity, wherein its sub-funds would be integrated into XPLAN using data feed.
A pioneer in its own right, DomaCom is credited with being the first to launch an online platform in Australia to cater to all kinds of investors. Clients that use this technology platform invest in various commercial/residential properties by acquiring fractional units and accrue gains when the property in question is re-evaluated over the years. Subsequent to the fall in the revenue of the company as revealed by the financial report on 30th September 2017, the possibility of striking a deal has been high.
On its part, IRESS is a leading fintech company in Australia and its latest offering XPLAN is designed to enable investors to manage their portfolios and meet administrative requirements. According to DomaCom, many of the issues that advisors face in property investment, particularly those related to the selection of assets and insurance cover, could be effectively avoided by engaging professionals who would short-list suitable options and help to build a quality portfolio.
Arthur Naoumidis, CEO of DomaCom, commented that the deal was a significant move for DomaCom since it is likely to provide a much wider exposure to the fractional investment strategy which is DomaCom’s creation. He went on to point out that it was essential for survival to align with key software packages and XPLAN emerged as a viable option in every way.
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