In November 2022, Bango hosted a technology-focused strategy day in London. There were presentations from members of the Bango team and from some of our customers.
In his presentation, Bango Executive Chair, Ray Anderson explained what a ‘platform’ means for Bango, and why a platform model is best placed to meet the needs of our customers. The key highlights from his presentation were:
- The Bango strategy is merchant led. We help our merchant partners grow their paying customer numbers and, in turn, their revenues, faster than they can do on their own. We do this through Bango Payments (DCB, wallets, bundling) and by helping merchants target their marketing more effectively using Bango Purchase Behavior Targeting technology.
- Bango is a Platform business. We don’t create connections between a merchant and a telco. In the platform model, the merchant connects to the Bango Platform and the Platform gives access to all the other merchants and telcos connected to it. Similarly, a telco connects and can take advantage of the wide range of merchants already connected.
- The Platform provides value to merchants because it connects them instantly with hundreds of payment providers, providing fast routes to market.
- The Platform is a true value-add ecosystem. Not only does it provide access to others connected, Bango adds additional value generated by everyone else connected to the platform. For example, the Bango platform provides unique data insights that no merchant or operator could have on their own.
- These insights from the Bango Platform are a key competitive advantage and barrier to entry for competitors.
- Bango is more important to our customers than simply being a payment provider because of this ability to use data to drive their growth.
- Leading brands have gone public with their adoption of the Bango Platform. Verizon uses Bango to power consumer subscription offers. Therefore merchants that want to offer their subscription products through Verizon will use the Bango “Digital Vending Machine” technology, positioning Bango at the centre of the digital merchant ecosystem
The above bullet points provide a summary overview, but Ray says it best himself. You can find a recording of his strategy day presentation here: https://bangoinvestor.com/strategy-day/introduction/
