Controlabill

Controlabill was a financial software company founded in 2006 in Sydney, Australia, by Stephen Coulter and Bernard Wright. The company developed and operated a patented, cloud-based platform designed to simplify the management of direct debit authorities for billers, consumers, and banks. The service allowed end-customers to establish, modify, suspend, or cancel direct debit payments through a brandable application accessible on PCs, tablets, and smartphones. Controlabill aimed to replace inefficient paper-based processes, targeting a reduction in payment authorization setup costs by up to 80% for billing companies.

The company's business model was a 'pay-as-you-save' system, eliminating the need for upfront capital investment from its clients. The platform was designed to integrate with existing infrastructure, providing an enterprise-wide solution for managing direct debits. Controlabill's core intellectual property was its Authority Management System (AMS), which was granted patent status for the centralized management of payment authorities. The founders invested significant personal capital and time in developing the IP. In December 2012, the company secured a grant of $609K. Despite its patented technology and a clear value proposition for major sectors like energy, telecommunications, and insurance, the company struggled to gain traction and convince major industry players to adopt its system. According to company filings, it faced challenges with the dominant market power of large financial institutions. The company is now listed as deadpooled or out of business.

Keywords: direct debit management, payment authority, bill management, financial software, fintech, recurring payments, payment processing, authority management system, automated billing, subscription management, cloud application, pay-as-you-save, Stephen Coulter, Bernard Wright, biller solutions, customer payment solutions, digital payments, online billing, payment authorization, financial services