@norvest, you wrote - "Jocko, Since the merger of IP1 and exPWC...

@norvest, you wrote -

"Jocko, Since the merger of IP1 and exPWC platform we know (from valuation doc) that a business opportunity could emerge for Wrkr from WBC divesting its Clearing House function.The divestment didn't happen as I don't think WBC had anything of value to sell. They haven't invested/upgraded their clearing house to dovetail in with the new regulatory environment.
WBC will see natural attrition to competitor Clearing Houses like Wrkr who have done the hard yards building their technology stack. The Wrkr deal with Link could speed this up if the Link customers using WBC clearing house are migrated away!!
As for Super Choice they are a serious competitor for Wrkr but I think Wrkr have the drop on them in many areas, particularly the stapling product.
We will know in 6 months who's who in the Clearing House market share battle...I'm prepared to bet that Wrkr will be ahead at the post!!"


Very well written Norvest.

It does appear we are aligned on the major consequences for Westpac's (WBC) clearing operation and SuperChoice market share you speak of.

Here's a few screenshots and links to help punters piece together what has already occurred and what may potentially happen in the very near future, IMO.




1. From the Independent Experts Report below from 18/12/2020.





https://cdn-api.markitdigital.com/a...access_token=83ff96335c2d45a094df02a206a39ff4





2. This reference below from the MST report done on the 01/02/2022 shows the Westpac and Link Group association with regards to Clearing House Services.





https://hotcopper.com.au/attachment...T Access - WRK Initiation Report - 1Feb22.pdf





Gaining Clearing House market share.... why is this important?

1. Immediate additional revenue.
2. Solid user base to draw on... up to 8 million employees.
3. Upsell. All other services offered from Wrkr.
4. Benefits. Packaged benefits to employees.
5. Open Superannuation. CDR!

Link Group provides admin services for approx. 8 - 10 million Australian Super Fund Members but not all clearing house services. There was SuperChoice, ClickSuper (Wrkr) and Westpac as main Clearing Houses.


3. This screenshot below from one of my previous posts is referring to the MST report above.







4. Imminent onset of Open Finance. (CDR).



https://treasury.gov.au/publication/p2022-242997




It's as clear as mud!

Market is asleep as to what's unfolding here right in-front of them at the WRK headquarters, IMO.

I can't make it any clearer than that.



In Trent and The Wrkr Team We Trust!



Jocko.