Photo - Intelligent Diligence
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Intelligent Diligence

3rd party risk management workflow

Singapore
Market: Information and media, Financial services, Another, Artificial Intelligence
Stage of the project: Operating business

Date of last change: 08.03.2021
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Idea

Notarum superpowers your compliance team to conduct better due diligence checks faster at a fraction of the cost via our intelligent workflow and collaboration tools.

Current Status

In market and post-revenue.

Market

We have five key segments:

1. Fund Management Industry e.g. VCs
2. Technology e.g. payment solution providers
3. Professional Services Industry e.g. law firms, accounting firms
4. Large, Regulated Enterprises Industry e.g. Global FMCG companies
5. Banking Industry e.g. corporate banking, business banking

Problem or Opportunity

When companies want to do business together the on boarding process is a slow, costly frustrating experience for everyone involved.

The current global due diligence system has significant flaws:
- slow: average on-boarding times exceed 3 wks
- costly: huge teams are needed to process data (headcount is 80% of cost)
- lacks integrity: clients supply own data and its not crossed checked

Solution (product or service)

An end-to-end workflow solution customised for each company’s specific needs where primary source data is used as the foundation for a robust due diligence process whilst the organisation is able to track all documents and data on which the decisions were based in the audit trail.

An organisation powered by Notarum benefits on three levels:

COMPLIANCE ANALYSTS are able to complete more checks faster, at a fraction of the cost because data is automatically transferred through the workflow freeing up staff time to identify risks and mitigate their effects.

MANAGERS are able to track the progress of cases and the productivity of their teams whilst scaling faster with fewer resources.

COMPANIES powered by Notarum are better protected through the use of primary source data, the consistent application of their company policies and ability to change their workflow without having to retrain staff.

Competitors

Whilst there are some large established players (Encompass, Fenegro etc.) we actually see the largest competitor as the existing process.

Millions of companies everyday undertake this process manually so we need to implement a cultural shift to where they use and really value technology.

Advantages or differentiators

An end-to-end workflow solution customised for each company’s specific needs where primary source data is used as the foundation for a robust due diligence process whilst the organisation is able to track all documents and data on which the decisions were based in the audit trail.

Finance

SaaS recurring.

Three tiered pricing structure to serve companies of any size.

Business model

Direct Sales.

Reseller partnerships (industry bodies, regulators etc, consultants etc)

Money will be spent on

Dev and marketing

Offer for investor

We will begin our next raise in Q2 2021.

All terms negotiable commensurate with impact from investors.

Team or Management

Risks

Access to data, willingness of customers to change

Incubation/Acceleration programs accomplishment

Techstars, Entrepreneur Fist

Photos

Photo 1 - 3rd party risk management workflow
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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video