Fluxible™ launched as a direct hiring platform in July 2017. Since then, our user base has grown to over 2000 contractors and 30 hiring companies, covering multiple industries and skill sets.
We’ve worked closely with our customers to identify the biggest challenges they face and this has led us to explore and develop the use of blockchain technology.
Our focus is now solely within Financial Services and have already signed a major international bank as a proof of concept, to commence in May 2018.
Contractor on-boarding within Financial Services is inefficient. Processes are sub-optimal, costly and rarely on time. It’s an unacceptable experience for the hiring company and contractor alike. Compliance and background checks need to be completed before a contractor can start a role.
These include; KYC checks – proof of identity, criminal records checks, credit checks, right to work and verification of previous 5 years work history. These checks are only undertaken once the contractor has accepted an offer.
Current industry “best practice” delivers these completed checks in 3 – 6 weeks before the contractor can start the role. These costs sit with the hiring company or the agency. This leads to issues such as:
- Delays in key work being started for hiring organisations.
- Loss of revenue for contractors who are unable to work until checks are completed.
- Additional administrative activity being carried out by hiring organisations and contractors to complete background checks.
Our Blockchain Solution
Fluxible™ deploys a blockchain platform solution as a secure depository for contractors to maintain their history, references and verified background checks secured on a distributed ledger to enable them to start new engagements quickly upon offer, reduce earning gaps, and to drastically reduce the incidents of opportunity costs, and slash administration costs to the hiring company.
Once all checks and history of a contractor have been verified and recorded to the Fluxible™ blockchain, they are kept up to date as new contracts and projects are started / completed.
The Fluxible Contractor Passport provides a continuous verified record of information, enabling them to move between companies and projects, in a frictionless manner.
Hiring companies are able to search, attract, communicate and hire verified contractors directly using the Fluxible™ platform.
Contractors, upon accepting an offer, are able to provide the hiring company a view of their verified work history, qualifications and allow instant KYC checks.