Kyckr Limited (ASX:KYK) Chairman, John Van Der Wielen talks about the opportunity in front of the company and current CEO Tesco Bank, Benny Higgins taking up the role of incoming Chairman at Kyckr.
Jessica Amir: Hi I’m Jessica Amir for the Finance News Network. Joining me from business compliance provider Kyckr (ASX:KYK) is its Chairman, John Van Der Wielen. Hi John, welcome.
John Van Der Wielen: Hi, thank you.
Jessica Amir: First up. Just remind us what you do at Kyckr and why it’s so important in the world of Know Your Customer?
John Van Der Wielen: Kyckr is a regulatory-based technology company that provides company searches, from over 180 different registries around the world. And that registry information is really important, in both the anti money laundering process at banks and other institutions, as well as really important to the get to know you customer, as a part of the new regulatory regimes.
It’s really important to note that we’re already working with global customers like Bloomberg, Citibank (NYSE:C), local banks like Bank of Ireland (LON:BIRG). And also large technology companies like IBM (NYSE:IBM) and people like Elevon.
Jessica Amir: Just tell us what the business has achieved since listing about a year ago?
John Van Der Wielen: Listing in itself is a major achievement. So to get a new technology company based in Ireland, listed on the Australian Stock Exchange is a major achievement. And since the time of float, we’ve actually signed global customers, we’ve built our revenue, we’ve developed improved technology. And we’re now on the right foot to grow the company aggressively into the future.
Jessica Amir: Can you tell us a little bit about yourself and why you got involved?
John Van Der Wielen: I’ve been involved in global financial services now for over 30 years. In fact in Australia, I was on the Executive Board of ANZ (ASX:ANZ). My current day role is I’m CEO of HBFin Western Australia and I’m also on the Board of a life insurance company, as an example, in New Zealand. But I’ve had a heavy involvement in banking across 13 different countries in the world. And when I was introduced to Kyckr and I understood a great deal about the complexities in anti money laundering, I visited our company in Ireland. I looked at the technology and just thought this is a great company to become involved in.
Jessica Amir: I believe there’s some pretty exciting news around the corner at the Board level?
John Van Der Wielen: There is. So I’m currently the Chairman of Kyckr and what we’ve been looking to do is expand our knowledge and competence, across the globe. And I’m pleased to say that we’re going to announce a new Chairman. I will stay on the Board as a Non-Executive, but our new Chairman will be a gentleman by the name of Benny Higgins. And Benny is currently the CEO of Tesco Bank (LON:TSCO) in the UK and worldwide. But Benny is a really experienced banker, he’s grown an entrepreneurial bank from virtually nothing, into something of major size in the UK. And it’s known as one of theworld’s most successful retail and shopping banks in Tesco, which is a household name in Europe.
Jessica Amir: It seems really bitter sweet for you, but we have to ask the all-important question. Why is someone going from an international company with a market cap of over $25 billion, to a small play, such as Kyckr?
John Van Der Wielen: It’s not bitter sweet. The job of the Chairman in a listed entity regardless of how small it is, is to make sure that we get the most amount of benefit, for both the management team and shareholders. Finding a global Chairman of the calibre of Benny Higgins is the right thing for the company and the shareholders. And he’s particularly interested in Kyckr, because he’s an entrepreneur who’s successful in taking Tesco Bank as a microcap, into an enormously successful bank. So when I got talking to him about Kyckr explaining the marketplace it was in, regulatory technology, he loved that. He also loved the potential and loves what we do. And he believes he can do the same thing with Kyckr, as he’s done with Tesco Bank.
Jessica Amir: Last question now. What do see happening at Kyckr over the next 18 to 24 months?
John Van Der Wielen: Importantly, we’ve got to show continued growth in our revenue for our shareholders. And we’ve got to consolidate the benefit from the big global signings we’ve had of recent. With the new Chairman coming on board, all the recent signings, what we’ll see is continued growth in revenue. And I think a company that’s going to be an international success, in the regulatory technology space.
Jessica Amir: John Van Der Wielen, it’s been an absolute pleasure, thanks so much.
John Van Der Wielen: Thank you.