Tuesday, 12 April 2016 11:26

TikForce to relist on Australian Stock Exchange today


Perth-based digital identification and verification startup TikForce will relist on the ASX today after successfully completing its reverse takeover of Palace Resources and raising $4.5 million.

CEO and founder Kevin Baum said, “The thing about being a public company is there is another level of trust and openness that is required, which allows other companies to understand that we can deliver what we promise and that we are held accountable under public scrutiny.”

Baum has had experience with ASX-listed Chrome Global as its Managing Director and as part of the management team at OzEmail when Prime Minister Malcolm Turnbull was there.

iTWire reported on the digital identification and verification industry and TiKForce recently using the recent example of the NSW Police Force that had to deal with not only a senior police detective being caught drink driving, but it being revealed that he hadn’t had a driver’s licence for 25 years.

TikForce’s digital Tik.me platform provides a way for employers to identify workers and their credentials and qualifications. The company’s solution cuts compliance costs for companies and helps workers secure jobs more easily.

It also has a digital product that's that while not the same level as TikForce's statutory Australia Post product is being examined across courts around the world regarding electronic validation being on the same par as a physically verified document.

Baum said, "We are achieving very good results with labour hire, contracting and share economy businesses in particular. We expect to make some firm announcements on these new clients in the next few weeks.

Melbourne based Metro Trains is one of TikForce's main clients, with initially 2000 contractors and sub-contractors being vetted by the platform, with a potential pool of 50,000 as they ramp up their use of it.

Baum added, “Clients will also be covered by Lloyds of London insurance cover for legal costs if they are sued for using non-compliant workers. The insurance cover validates the Company’s rigorous international compliance standards and its business model.”

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Ray Shaw

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Ray Shaw ray@im.com.au  has a passion for IT ever since building his first computer in 1980. He is a qualified journalist, hosted a consumer IT based radio program on ABC radio for 10 years, has developed world leading software for the events industry and is smart enough to no longer own a retail computer store!

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