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TRANSCRIPT
A smart vetting platform for personnel risk management, deeper insights into candidates and efficient onboarding.
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TABLE OF CONTENTS
PROBLEM
OPPORTUNITY
WHY NOW
ADOPTION
PRODUCT
UNDERLYING MAGIC
MARKET SIZE
3
4
5
6
7
8
9
MARKET DIFFERENTIATION
BUSINESS MODEL
GO TO MARKET STRATEGY
ROADMAP
COMPETITIVE LANDSCAPE
TEAM
CAPITAL RAISE
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11
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PROBLEMPublic and private sector employment vetting (background checks) suffers from a lack of efficiency, quality and depth.
Digital identity theft is an ever-growing problem. The industry standard for sending sensitive documents (passports, driver licenses, etc.) is email, with very little focus on secure storage and protection. Data ownership is essentially lost the moment the material has been sent, and candidates must repeat this process every time they apply for a new role.
For Candidates
Existing processes are manually intensive, costly and lack the depth that employers require to mitigate risk and improve suitability for employment. This is especially true for high-level and sensitive positions, whereby risk is increased by candidates who are inadequately vetted for the role, and ongoing monitoring of red flags is not possible.
For Employers
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OPPORTUNITY
In Australia
$30mPAGovernment Sector
$70mPAPrivate Sector
In the USA
$1.3bPA $12bPAGovernment Sector Private Sector
Securion provides a fully secure blockchain-backed platform that automates the onboarding and vetting of candidates, whilst leveraging AI to deepen the level of vetting and providing ongoing dynamic insights into HR risk.
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Annual spend on suitability assessments (USD):
In a world where everything is going digital, we are still tied to physical and hardcopy identity documents, manual background checks and laborious suitability evaluations.
WHY NOW?
AI and blockchain present an unprecedented opportunity to revolutionise vetting and onboarding, bringing efficiency, quality and depth.
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● People Employed in Australia: 12.8m
● Global employment is infinitely larger, with global GDP sitting at $80T.
● The employment screening sector is growing at an 8% CAGR. Fuel by McKinsey projects the Identity Verification as a Service industry
to grow to $20 billion by 2022, with a Total Addressa
ble Market (TAM) growth of 9 – 15 percent annually.
● An estimated 20% of candidates are not the right fit for a role and an estimated 34% of candidates having undisclosed histories that
employers would eed to know before hiring for a position.
● Identity theft is costing $2.2b PA industry in Australia, and $16.8b in the USA alone.
2 Signed Contracts
4,000
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Candidates to be processed annually
3 Signed LOIs
CCL SecureProducing banknotes in the UK, Canada, Australia and 30+ countries around the worldhttps://cclsecure.com
$300K PA (USD)
ADOPTION
National Vetting Services & PerSec Solutions: 2 of Australia’s premier vetting agencies
DXC TechnologyThe world's leading independent, end-to-end IT services companyhttps://www.dxc.technology
MSS SecurityAs one of Australia’s leading security companies, MSS Security has unrivalled experience in protecting some of the nation’s highest profile siteshttps://msssecurity.com.au
Integrated and simpler onboarding tools, improving efficiency and reducing costs.
Easy onboarding
A secure and smart storage for candidates and employers to protect identity documents from potential fraudulent activity.
Smart Storage
Dynamic and ongoing assessments with sophisticated risk scoring
Client monitoring
An AI based risk system, validating identity checks and building a deep psychological profile on candidates.
The Brain
A compliance hub to reduce regulatory risk when onboarding clients.
Reduce risk
Features and benefits:
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PRODUCT
Securion is designing a proprietary AI-driven
algorithm that aggregates and analyses key data points -
providing comprehensive insights into candidates for
employment.
Securion is faster, more secure and provides deeper insights than the current fragmented solutions in the marketplace.
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UNDERLYING MAGIC
● People Employed in Australia: 12.8m
● Global employment is infinitely larger, with global GDP sitting at $80T.
● The employment screening sector is growing at an 8% CAGR. Fuel by McKinsey projects the Identity Verification as a Service industry
to grow to $20 billion by 2022, with a Total Addressa
ble Market (TAM) growth of 9 – 15 percent annually.
● An estimated 20% of candidates are not the right fit for a role and an estimated 34% of candidates having undisclosed histories that
employers would eed to know before hiring for a position.
● Identity theft is costing $2.2b PA industry in Australia, and $16.8b in the USA alone.
Identity Verification Service Industry
8% CAGR
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Cost ofIdentity Theft
$2.2BPA
$16.8BPA(compound annual growth rate)
EmploymentScreening Sector
20%of candidates are not the right fit for their role
34%of candidates have an undisclosed past that an employer should know
In Australia
In The USA
$20B
MARKET SIZE
Top 5 Factors
Value Curve
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MARKET DIFFERENTIATION
1 Consistency
Depth
Suitability
Ongoing checks
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3
4
Value Curve
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BUSINESS MODELValue Propositions The Portal (Onboarding Platform) The Brain (AI Risk Assessment) The Vault (Document Storage)
Customer Relationships Active & efficient risk mitigation & ongoing monitoring Zero risk value-add module for clients Convenient document upload + lock-in:
switching effort
Customer Segments Med. to large corps;Government departments
Verification platforms;employment agencies
Secure cloud storage (Evernote, OneNote);KYC providers (Reuters WorldCheck, GBG)
Channels B2B sales channels Wholesale API – existing platforms B2B sales channels
Key Activities Technology updates + customer servicing Maintaining API for wholesale distributionTechnology + security upkeep, maintaining retail customer service and base + marketing acquisition
Key Resources B2B distrib. + customer relationships + technology upkeep
Patent + B2B distrib. + developers + psych profiling
Retail distrib. - achieved through:1) The Portal (onboarding platform)2) White-label Vault signups
Key Partners Developers: technology vendors - baseline API identity checks Developers: artificial intelligence specialists Developers: white-label customers;
customer servicing
Cost Structure Developers, servers, APIs, sales, support Developers, servers, APIs, sales, support Developers, servers, APIs, sales, support
Revenue Streams Per unit check cost - tiered depending on depth API SaaS fee + unit cost Whitelabel fees + unit cost
Watch a video walking through the business model here
Unique business model design allows for multiple revenue streams, across multiple channels.
Existing GovernmentClients
PrivateSector
Scale to Enterprise / Global
The Portal + The Brain
The Vault
Candidates4000Day 1 Revenue$300K
Candidates4000Revenue$100K
The Portal (OnboardingPlatform)
The Vault (White label)
Customers20 Mid-Enterprise Level EmployersRevenue$2M
Candidates10,000Revenue$250K
The Brain
Customers5 Verification Services5 Employment Agencies5 EmployersRevenue$3M
Scale to Enterprise / Global
• Operating across multiple international markets
• Two-way integration with external platforms
• Partnerships with major SaaS platforms
2019 2020 2021 2022+
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GO TO MARKET STRATEGY
• Strategy work completed from 2018• Brand development• 5 LOIs signed from private sector clients• Whitepaper V0.1 draft released
H1 2019
Business Strategy and Revenue Streams
• Whitepaper V1.0 released• Investor deck released• Private sale launch• MVP platform development started
H2 2019
• Pilot customers onboarded to MVP• Team expansion• Product launch• API released• AI algorithm (The Brain) beta implementation
H1 2020
• AI V1.0 implementation• Suitability module developed• Blockchain access and security layer
(The Vault) in production• Private sector pilot program open to all
H2 2020
• Compliance/regulatory AI ecosystem active
• Global APIs integration and distribution
• Diversified revenue streams, multiple markets
H1 2021
Launch MVP Scale business globallyAI integration + psychological profiling modules
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ROADMAP
Automated
Deep VettingServices
Narrow VettingServices
Manual 14
COMPETITIVE LANDSCAPE
Dario Giljevic | CEO
FOUNDERS
With 20 years’ experience working in Government including private sector encompassing the most sensitive of clients Dario is considered a subject matter expert in the world of personnel security. Experiencing first hand years of reiterations across multiple organisations in the personnel security space he is acutely aware of challenges facing today’s identity, background and suitability assessments.
Kerry Parker | COO
Kerry has over 27 years’ experience in personnel security vetting havingworked in the industry in Washington, DC and Australia. She operates the longest functioning privately owned vetting agency in Canberra. Kerry has a reputation for providing sound, timely and considered advice on all matters of personnel security. She is highly sought after for her extensive knowledge and understanding of personnel security vetting processes and their application in the assessment of candidate suitability in the government and private sector.
Irena Giljevic | CFO
Irena comes from a scientific background and entered the world of personnel security 10 years ago developing superior skills in governance and quality assurance. She is passionate about exceeding client’s expectations in the personnel security environment, striving for excellence in all aspects of her professional career. Irena is an astute business woman gaining respect and appreciation from clients and industry professionals.
PARTNERS
Chain Effect
Blockchain Association of Australia
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TEAM
Private Round: EquityEquity: 20% on USD 1.8M valuation
Soft cap / hard cap: USD $90K / $360K
CAPITAL RAISE Funding Distribution
Legal/Comp. 10%
Platform 45%
Staff 20%
R&D 15%
Sales 5%Marketing 5%
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