One Click Life Surpasses 70,000 Registered Users

Fast growing life admin technology platform One Click Group Limited (ASX:1CG) (“Company”) is pleased to announce that it’s registered user base has now surpassed 70,000 users which is another exciting milestone for the Company.

Key Highlights:

• One Click Life has surpassed 70,000 registered users on its fast growing technology platform
• This growth in new registered users equates to over 600% growth on the prior corresponding period showing excellent penetration and which further positioning the Company for continued strong revenue growth 
• The tax lodgement season commences shortly where revenues typically increase for the Company, with preparations well advanced to capitalise on the growing user growth
• Marketing channels showing increasing engagement leading into tax season where strong revenue and user growth is expected
• Ability to monetise additional products through high demand period with One Click Mortgages product now established

Managing Director Mark Waller commented “Our focus has been on continuing to grow user numbers on the One Click Life platform whilst we expand the platform’s capabilities, increasing revenue opportunities within our user base across multiple products. This has resulted in a maturing of our marketing approach across multiple platforms in readiness for the coming tax season, which is currently our largest revenue earning period from our Tax product. 

This year will be the first time we have been fully funded for our marketing campaign leading up to and through the tax season and we have already seen the benefit of this. This year our registered user base has already grown over 600% on the prior corresponding Jan to May period. This growth has included a mix of new customers finalising outstanding tax lodgements and getting ready for their coming tax lodgement. 

The increase in registered user numbers is also benefiting our ability to monetise our other products with our One Click Mortgages product already monetising. We’ve been very happy with the initial engagement with this product and look forward to it continuing to contribute a growing annuity revenue stream.”

Registered user numbers have grown over 600% this calendar year when compared to the prior corresponding period. This growth has been as a result of a funded marketing campaign leading up to the coming tax season with a maturing of multiple digital channels now engaged. 

Last calendar year One Click Life’s registered user base grew over 60%. The continuing growth in user numbers into this year continues to demonstrate a growing demand for digital financial services in Australia and specifically excellent penetration for the One Click Life Platform. One Click Life takes complicated financial products and conquers the complexities to create simple financial products capable of being easily consumed via a mobile phone. Financial products made simple. 

One Click Life is well positioned to capitalise on revenue growth from the fast growing user base as the company enters into the Tax lodgement season which is typically a very high revenue earning period for the Company. The Company expects that revenue growth will be strong year on year due to the growing user base and also the key marketing initiatives that are either planned or are underway.

In June the marketing campaigns for the One Click Life platform will continue to expand with advertising on Channel 7 commencing. After trialing a television campaign last year through parts of regional Australia, this year the television campaign will expand the regional presence and trial one capital city, Brisbane. The advertising campaign will also cover AFL games nationally commencing in late June. 

The One Click Life website includes a number of free tools for managing financial life admin such as tax calculators and a large library of reference material for specific knowledge or insights on tax topics such as the deductibility of mobile phones or tax tables. Once logged into the platform a user can view historical tax returns, lodge tax returns or apply for a mortgage to name a few services. 

About One Click Group

One Click Life is a fast-growing Australian based financial technology platform positioned to disrupt and capitalise on the increasing market demand for online self-directed financial and life admin services. 

The platform’s primary competency and revenue stream at the moment is online tax. The One Click Life platform now contains a lending competency and a number of other products for users, with online wills and private health insurance already available with more new products to come in the future. The One Click Life platform aims to be the one stop shop for everyday Australians who want to manage their financial life admin across, tax, wills, insurance, mortgages, investing and more.

One Click Verify is a digital identity verification platform allowing businesses to digitally identity their customers as part of an onboarding or transaction process.