The case shows just how important verification of employee identity, credentials and qualifications are.
Perth-based TikForce has secured A$4.5M to finalise its reverse takeover (RTO) of Palace Resources Ltd and listing on the Australian Stock Exchange. Its Tik.me platform gives employers a way to establish certainty around who their workers are, and what credentials they have. It is also a compliance program and a tool to increase the mobility of its workforce.
Conversely, it helps workers secure jobs more easily and cuts a prospective employer's compliance costs. It may become a necessity for participation in the sharing economy – proof of who you are and what you claim.
One of the ways Tik.me identifies employee’s credentials is through its affiliation with 1300 Australia Post outlets. Documents can be physically checked by Australia Post staff and verified as genuine or not.
It also has a digital verification product. While not the same level of compliance as TikForce's statutory Australia Post product, electronic validation will one day have the same status as a physically verified document.
The Tik.me platform:
- Is designed for verified facts and record processes.
- Leverages the Australia Post office network to make physical capture easy and local.
- Can provide Digital ID verification in over 200 countries.
- Profiles are owned by workers and shared with employers.
- Uses the Microsoft Azure cloud to be a web and mobile accessible solution, allowing workers to show or share their work-ready documents.
- Monitors qualification expiry dates and alerts workers and employers.
- Matches roles and jobs to qualified suitable workers.
- 100-point ID, KYC, AML and Photo ID verified
- Qualifications (Certifications, Police Checks, Education, licences, insurances and medical)
- Device and system agnostic platform that can interface/integrate with a management and reporting systems, from SME through to Enterprise level.
- Lloyds Compliance Insurance provided to all employer-member organisations
Tikforce is now rolling out in Australia with international expansion planned in United States, United Kingdom, New Zealand and Singapore.
Tikforce CEO Kevin Baum said, “We are very excited to close the fundraising and achieve our goal of $4.5 million. This will allow TikForce to comfortably achieve a sustainable business in Australia. The ASX listing enables TikForce to deliver the highest levels of security, compliance and customer trust required of a company managing validated digital profiles. It is still a challenging market for entrepreneurial technology businesses to raise capital in Australia and we are proud that we have gained the trust of many individuals and organisation from Australia and internationally.”
Australia Post supports the importance of ‘digital ID’ and the potential productivity gains that could be obtained from a digital certainty.
TikForce’s initial focus is on digital certainty in Human Resources. A verified ID is a foundation for additional credential, license, history and background verifications that are now required for many jobs.