Complii FinTech Solutions (ASX:CF1) streamlining procedures


by Michael Luu

Complii FinTech Solutions Limited (ASX:CF1) Executive Chairman Craig Mason talks about how the company's digital platform provides an electronic centralised framework to manage AFSL-centric (Stockbroker/Financial Planner/Adviser) workflows for compliance, capital raising and operational efficiencies.

Michael Luu: Industrial revolution 4.0 has made a vast difference to the ways companies operate, including in compliance practices. Today, let's talk to digitisation specialist Complii FinTech Solutions (ASX:CF1) to find out more. Joining us is the company's Executive Chairman, Craig Mason. Craig, welcome to the network.

Craig Mason: Thank you for having me, Michael.

Michael Luu: Great. So, first up, can you start with an introduction to the company?

Craig Mason: So, Complii FinTech Solutions, we're an ASX-listed company, recently listed December last year. Our focus as a business is around compliance, technology, automated efficiency and corporate modelling in the financial services industry.

Michael Luu: And, Craig, what are the advantages of using your FinTech solutions?

Craig Mason: Our business starts on the premise that everything is compliant from the outset. So, when an organisation is using our product, they know that their AFSL (Australian Financial Services Licence) is protected, they're know their business is compliant, they're know their customer is protected, and that everything starts with compliance. And post-transaction to that means that everything runs smoothly, and that trust is rebuilt into the industry again.

Michael Luu: Now, let's move to strategy and your financials. Can you tell us more, starting with your growth strategy?

Craig Mason: So, from a growth point of view, we are a unique business. There's no other organisation that does the collective of what we do, and we're already on the desktop of over 3,500 users here in Australia across the financial services industry. We'll continue to grow and develop on that, rolling out more modules to existing clients, rolling out more modules to new clients etc, and we'll continue to enhance the product to do so. The financials, it's an interesting story. We've been small for many years, but, 2020, we did a $1.3 million worth of gross revenue. So far, three quarters into 2021, we're already around about 1.5, and that trend will continue to grow. We are very much a licensed recurring revenue-type business. So, the more customers, the more revenue.

Michael Luu: And, to a more general question now, how much growth is there in broking and financial planning circles locally?

Craig Mason: The reality is, there's been a reduction in number of advisors across the industry due to FASEA (Financial Adviser Standards and Ethics Authority) and various other changes to the industry. But, for us as a business, we're focused very much on the broker-dealer segment, and the AFSL segment. But there's still a significant amount of those for us to attract. But we also see growth in other areas, whether it's in the insurance industry, the superannuation industry. There's a number of other industries that are affected by all the same compliance and risk controls, and we are at the forefront of that technology.

Michael Luu: And last question, Craig -- is there anything else you'd like to add?

Craig Mason: Our business vision and our goals are to be the hub for compliance. We don't want to be market data, we don't want to be an exchange. What we want to be is the hub for compliance, and the go-to house for the sharing of corporate deals and corporate activity across our clients.

Michael Luu: Craig Mason, thank you for your insight, and we look forward to hearing more updates from you in the future.

Craig Mason: Cheers. Thank you very much.


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