TRC Technology Group

regtechauthentication and fraud preventionremittancessoftware/whitelabel/apis-remittance

FOUNDING YEAR: 2013
LOCATION: Australia
Last Update: 08/09/2020

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About

The cross-border payments sector is both massive and highly fragmented. The sector is, however, experiencing forced and substantive restructure. TRC Technology Group is at the forefront of these changes having developed and deployed a sophisticated, enterprise standard, international payments B2B2C technology platform operating within online, mobile and digital that is capable of disrupting the entrenched players.

Focus

PRODUCTS & SERVICES

Podium - Cross-border payments platform; Spotlight - AML/CTF compliance and risk management software

REVENUE MODEL

Transaction based incorporating a number of different revenue streams

PRIMARY PROBLEM SOLVED

Banks worldwide have closed the accounts of thousands of remittance and money transfer businesses due to money laundering and terrorism financing concerns. The elimination of cash and the application of robust AML/CTF risk management processes is now paramount. TRC has developed a technology solution that transits established and new participants in the remittance and money transfer sector to electronic straight through transaction processing, aggregating transactions across multiple retail touch points, both of which is underpinned by leading edge AML/CTF compliance and risk management.

INTELLECTUAL PROPERTY

Patent(s) NOT_FILED

company provided insights

Traction

REVENUE

$100k - $499

NUMBER OF TRANSACTIONS:

95.00

TRANSACTIONS VALUE:

141 K

ACTIVE USERS:

5 Retail Channel Partners

ACTIVE USERS COMMENT:

Product has been deployed to Live. A sales campaign to secure retail channel partners across a number of sectors is underway. In early 2017, the company intends launching in the UK, followed by the EU.

People

FOUNDERS

Randall Harper

Ian Alexander​

BOARD MEMBERS AND ADVISORS

Randall Harper

Ian Alexander

Frank Brown

NUMBER OF EMPLOYEES

1-10

KEY EMPLOYEES:

Neil Woods

Adrian Fitz-Alan

Ian Alexander

company provided insights

Momentum

FUNDED

NO

LISTED

NO

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TRC Technology Group

About

The cross-border payments sector is both massive and highly fragmented. The sector is, however, experiencing forced and substantive restructure. TRC Technology Group is at the forefront of these changes having developed and deployed a sophisticated, enterprise standard, international payments B2B2C technology platform operating within online, mobile and digital that is capable of disrupting the entrenched players.

Focus

PRODUCTS & SERVICES

Podium - Cross-border payments platform; Spotlight - AML/CTF compliance and risk management software

REVENUE MODEL

Transaction based incorporating a number of different revenue streams

TOP PROBLEM SOLVED

Banks worldwide have closed the accounts of thousands of remittance and money transfer businesses due to money laundering and terrorism financing concerns. The elimination of cash and the application of robust AML/CTF risk management processes is now paramount. TRC has developed a technology solution that transits established and new participants in the remittance and money transfer sector to electronic straight through transaction processing, aggregating transactions across multiple retail touch points, both of which is underpinned by leading edge AML/CTF compliance and risk management.

PRODUCT DEVELOPMENT STAGE

COMMERCIAL LAUNCH

PRODUCT DEVELOPMENT COMMENT

TRC Technology has developed two products. Podium - a cross border payments platform serving the B2B2C remittance and money transfer market. Potential customers include: - Banks - Money transfer operators - Remittance service providers - Financial intermediaries - Mobile and telecommunication companies - Online marketing and sales businesses; Features include: - Retail pricing is set by each Retail Channel Partner - Individually branded consumer facing website - No technical integration required - Low entry costs - Competitive foreign exchange rates - Over 60 currencies available - Fully automated - Straight through electronic processing - Transactional banking with major Australian and UK banks - Global network of leading banks and financial institutions - Credit to bank accounts in over 190 countries - Credit to M-Wallets and other emerging FinTech solutions globally - Secure and compliant - Robust anti-money laundering and counter terrorism financing risk management; Underpinning Podium is Spotlight - a software solution for automated compliance and risk management in the customer on-boarding process. In addition to supporting Podium, third party sales channels include: - Peer-to-peer lending - Crowd funding - Other FinTech

KEY DIFFERENTIATORS

Podium is unique in that it serves the B2B2C market. Adding Podium to a product portfolio can bring: • A high volume, recurring revenue stream, • Enhanced customer loyalty and satisfaction, • ‘New customer’ engagement across all aspects of a business, • A positive add to customer retention metrics; Equally important, the proposition punches well above its direct financial value weight, in terms of its brand equities, community engagement and addressing consumer fragmentation.

PRIMARY CUSTOMER TYPE

Enterprise - Banks or Financial Institutions

Enterprise - Retailers

Enterprise - Others

Small and Medium Business - Online Retail

Small And Medium Business - Other

STRATEGIC CLIENTS AND PARTNERSHIP

The Currency Cloud : Liquidity provider

Traction

ANNUAL REVENUE:

$100k - $499

NUMBER OF TRANSACTIONS:

95.00

TRANSACTIONS VALUE:

141 K

ACTIVE USERS/ACCOUNTS:

5 Retail Channel Partners Million

ACTIVE USERS COMMENT:

Product has been deployed to Live. A sales campaign to secure retail channel partners across a number of sectors is underway. In early 2017, the company intends launching in the UK, followed by the EU.

LIVE USERS/TRANSACTIONS:

Yes, in live production

How will you grow the number of users/accounts/transactions?

The TRC model entails signing multiple retail channel partners leveraging expansive, existing customer bases. Over the course of the next 2 years we envisage having 20 retail channel partners in place in Australia with a further 20 in the UK

CHANNEL STATUS

INITIAL CLIENTS

NUMBER OF CLIENTS OR PAYING CUSTOMERS

5

People

NUMBER OF EMPLOYEES

1-10

TEAM COMMENT:

Highly experienced.

Momentum

FUNDED

YES

FUNDING COMPLETED

NO

LISTED

NO

FUNDING SERIES
Seed
Jun 2013
GBP212.5 K
at a GBP1.18 Mvaluation

Comment on Valuation

Post-money Jackson Superannuation Fund
Series A
Feb 2015
GBP475 K
at a GBP2.85 Mvaluation

Comment on Valuation

Post-money