I like real world problems as an investor, because there's always an opportunity if you can identify the company solving it. Here's one... there are 78,000 National Disability Insurance Scheme (NDIS) providers who handle $4.9 billion dollars of disbursements in Australia.
These disbursements are provided for carers to take care of people with disability. Sadly, a number of the providers are operating under fraudulent practices. This also includes carers who use the money meant for the disabled on their own personal needs.
Only within the last few months, were 25 NDIS operators kicked off the scheme...
In comes the NDIS fraud squad, set up by the government, which was suppose to solve this issue... *cough cough*
"The task force set up to investigate fraud in the National Disability Insurance Scheme is under-resourced and dysfunctional, a whistleblower claims". - https://www.governmentnews.com.au/whistleblower-claims-ndis-fraud-squad-dysfunctional/So what now? Seeing as the frauds are committed due to a lack of tracking/monitoring with bank card usage, the company 8Common $8CO, has developed digital card which gives NDIS Providers real-time approval of transactions to essentially spot out any misuses. You guessed it, CardHERO.
I should probably add 8Common is looking quite good to win their first contract with one of the largest NDIS providers, which engaged THEM for a paid pre-implementation product discovery phrase.
What more can one ask for? Should I repeat myself? A $4.8 BILLION DOLLAR UNSOLVED PROBLEM that this company is solving.
