25 May 2012

Eckoh extends Ministry of Justice deal

19/09/2011 Miles Nolan

Speech recognition specialist Eckoh (ECK) has enhanced the service it provides the Ministry of Justice (MoJ) to now include card payment services.

AIM listed Eckoh has been working with the MoJ since 2004 to help allow the quick payment of fines over the phone, however it will now provide the Legal Services Commission (LSC) with an automated telephone service. Sponsored by the MoJ, the LSC is a public body that works with solicitors and not-for-profit organisations, which help over 2 million people a year access legal advice.

The LSC receives £200 million in payments every year from clients and third parties. Available in English and Welsh it will validate the caller against a unique reference number, whereupon it will capture the credit card details. Chief executive Nik Philpot says 'we are seeing significant interest in our EckohPAY product and believe its ability to both reduce cost whilst ensuring a safe and secure payment environment will continue to drive demand for our services.'

We highlighted Eckoh as a buy in March when the shares were trading at 7.125p, despite the market turmoil the price has held steady and is up 2 per cent to 7.5p today. Though no monetary value has been mooted it is further evidence of the increasing market penetration of Eckoh's products. Buy.

Tags: AIM market, Automated services, Legal Services Commission, Speech recognition

Sector: Support Services

Companies: Eckoh

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