Australian FinTech company profile #104 – 1WordFlow
1. Company Name:
3. Key Staff & Titles:
- Bruce Wren – CEO and Co-Founder
- Caroline Trotman – COO and Co-Founder
Sydney, Melbourne, Adelaide
5. In one sentence, what does your fintech do?
1WordFlow’s unique technology automatically transforms Word and PDF documents into webpages – at scale – enabling staff and customers to instantly access any page, of any document, on any device, in any language, anywhere in the world, with no downloads.
6. How / why did you start your fintech company?
Before 1WordFlow, there was no fast, accurate and cost-effective way to get the vast amounts of documentation in financial services online. The only alternative was to manually cut and paste content into web pages, a time-consuming process prone to error – or to attach Word or PDF documents to a webpage.
Documents attached to webpages are a poor user experience in the age of the internet and mobile device. We saw a massive market need to present financial products and services in a way that would make staff more efficient, whilst offering customers a superior customer experience.
We have now developed a number of exciting products for the financial services industry:
· Transform automatically converts Word and PDF documents –product information, guidelines, statements of advice and policies, to enriched, mobile enabled web pages, eliminating downloads.
· Policies Re-Imagined transforms policies and procedures into dynamic, enriched web pages, accessible anywhere, on any device, in over 100 languages.
· Comply automatically identifies and maps policies and procedures to the relevant regulation and measures compliance.
· Policy Power automatically creates a web-based contract in a matter of minutes.
· Reveal automatically converts scanned documents to enriched web pages, extracting, analysing, and reporting on key data points.
· Egenda transforms meeting papers into fully-interactive, secure websites, available anywhere and on any device.
7. What is the best thing your company has achieved or learnt along the way (this can include awards, capital raising etc)?
1WordFlow has been recognised for our unique technology on numerous occasions:
- 2020 – Winner – The Consensus Award for Innovation – Previous winners include Atlassian.
- 2020 – Winner – The ISG Future Workplace Summit Challenge for Innovation – awarded by leading global technology research and advisory firm, ISG.
- 2020 – Finalist – 2020 Finnies Awards in Insurtech.
- 2019 – Finalist in the DXC Insurtech Challenge
There is no substitute for self-belief. Research is important, but making it happen takes commitment and a determination to make it happen.
8. What’s some advice you’d give to an aspiring start-up?:
- Engage in the start-up community – fellow founders will be your best source of wise counsel and advice.
- Find a super mentor or mentors who can help connect you to capital and prospective customers.
- Ideally form an advisory board of well-connected people who share your passion for your idea and can give you guidance every step of the way. In a nutshell – don’t go on this journey alone.
9. What’s next for your company? And are you looking to expand overseas or stay focussed on Australia?
We are building a partner network both in Australia and overseas to take our growth to the next level. Our initial focus will be on the UK and US markets.
10. What other fintechs or companies do you admire?
Atlassian is the standout for us – from modest, bootstrapped beginnings they have achieved global recognition.
We have been an active resident of Stone and Chalk for some years and have watched with interest fellow residents who are on a strong growth trajectory – Mainframe Cloud, Hyper Anna, Arctic Intelligence, Open Sparkz, – to name a few.
11. What’s the most interesting or funniest moment that’s happened in your company’s lifetime?
In our team we count only 1 Australian born member, and only 3 native English speakers. We didn’t deliberately set out to build such a linguistically and culturally diverse team – but we are a mini United Nations – with team members from Nepal, Brazil, India, Ukraine, and Philippines. It makes for some interesting moments in explaining Aussie idiom and slang -the bee’s knees, die in a ditch, chockers, fair dinkum, cactus – to name a few.