Rubik Announces the Acquisition of the software, staff and customer base of Admerex’s Ltd Software Collection business.

5 January 2009

Rubik has acquired the software business and its staff including admin, sales development and client service, 100+ customers, source code for CWX & Mercantile which is the Collections systems, SPX a payment engine, RBX the core banking system and the Analytic Engine.

Rubik Financial CEO Brent Jackson said he is pleased to announce the acquisition, which takes immediate effect. This acquisition is timely and is part the strategy in which adds another piece to the jigsaw Jackson is obtaining to ensure Rubik offers a “bank in a box solution” in technology solutions. It also strengthens Rubik’s customer position in which Rubik now will services 90% of the ADI market within Australia and New Zealand as well as some international markets.

The value of the Admerex CWX system for our banking customers is to increase the efficiency of the overall collection activities by automating the integration of data from its core billing system, eliminating the need for re-entering customer account and payment information and automating the process of follow-up letters and customer contact. The benefit results in an efficient employee utilisation and more profitable customer contact.

Jackson said “the collections software is vital in today’s market to ensure ADI Market Credit Unions and Building Societies can do all they can to increase collection efficiency whilst reducing overhead cost. 2009 we will see a focus in this space and Rubik is glad to be able to offer our customers a solution to address this.

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