We will be holding our first product Q&A of the year on Thursday 23rd January at 6 pm.
Good evening all Tally customers and Happy New Year! We’ve got our Head of Product (Damon) with us, along with my co-Founder, Ralph. And we’re looking forward to answering your queries about the app.
Do you believe that there are any other products in the market that you are competing with ? To what extent do you believe you have lost any competitive advantage due to the various delays to date?
Hi @Carolwhiteshusband, we operate in the digital banking space. There are many, but none that we’re aware of trying to truly disrupt banking for the good of consumers, by addressing the underlying issues with fiat currency. there are some investment-style gold storage products that make buying precious metals easier and then give some ease of converting to fiat currency (with a transaction cost) and with a top-up prepaid card, but we don’t see them as primary competitors. We don’t believe we’ve lost anything in delays to date in releasing the 2.0 app. Regards
Have the revenues and user sign up that have been generated to date met the business plan? When will you provide some visibility on those numbers to the market? (appreciate if you cannot answer the second question on this Q and A.
Loving the Tally App and looking forward to the next version…How close are we to it’s release?
@Sc0rp10n I’m very very pleased to say that earlier today we released our new version of the app to the Google Play and Apple App Stores. The review process can take up to 3 days, so we anticipate this being live by Monday!
@Carolwhiteshusband this is a corporate question and this can be answered in more detail then.
Our focus in the first 6 months of release has been proof of concept, evidence of potential demand and cost of customer acquisition. And around optimisation. The product wasn’t perfect but the learnings we needed come from having a live product out there. In the background we’ve been rebuilding the app and you will see a generational change in appearance and functionality. From that base we can then focus more on other business aspects like customer growth numbers, revenues and operating costs per account, etc.
Any App updates (spoilers) you can share for us to look forward to…?
Will V2 be pushed and adopted Globally at launch, if not, what are the timescales(no can kicking😉) for Global launch.
How do you see the marketing of the product progressing over the next 6 months to a year? With the start say being the full release of the Version 2 app. Do you suspect this will be dependent upon funds available to the company and the success of the crowdfunding/IPO or can there be greater focus on this prior to that? Are we able due any update on the Deccan Gold/GMSI merger? Thanks.
Thanks for the replies, have bath time to get care off see you at seven.
I would like to commend the Company for its transparency through a. The release of RNS reaches and b. The creation of this community in the months since cancellation. It demonstrates good faith.
Will the app V2 be showing the gold/tally price per ounce/gram for
Lowest, highest and average buy/deposit price
Lowest, highest and average Sell/withdrawal price
It’s a serious pain in the arse having to manually update a spreadsheet to try and keep tabs on what’s happening with my balance based on the current gold price compared to the fiat I’ve deposited. Having the info above, or at the very least, my average buy price, would at least give me a bit of info allowing me to determine if it is a good/bad time to deposit more or spend with the card.
I put some money into my Tally account on Monday. The amount showed up and the time, amount of the tally conversion etc for a while but now when I go to my Account Activity I can see every other transaction right back to February last year but not the one I did on Monday ? Regards Andy
Hi @Mikey9997 good questions. Some are more for the shareholder discussion starting at 19:00 and so other shareholders may want to read that Q&A as we go, please ask those type questions then. Re marketing activites in 2020, we have multiple initiatives lined up, they won’t be released all at once, and they will be to build the brand and confidence for customers using the money.