Background check technology company PASS has formally relaunched following the successful carve out from Innovise Ltd.
Under a new management team led by seasoned industry veteran and serial entrepreneur Luke Battah, the Company has already delivered a 200% increase in the volume of searches performed for its global clients. These include global financial institutions with over $1 trillion in total assets, Big Four recruitment firms, some of the world’s largest aerospace companies as well as the UK Government. The speed of PASS’s growth has been driven by the new management’s focus on ensuring that the company has the technological agility and depth of analytics to help their clients cope with a complex and fast changing regulatory environment.
It’s new business strategy has seen PASS’s revenues more than double since inception. Supported by its own in-house AI technology, the Company is able to offer greater than a 150% increase in productivity compared to traditional manual processes, and currently screens tens of thousands of candidates. With screening time reduced by 50% and and time-to-hire by 80%, this number is on course to become hundreds of thousands, as clients look to avoid damaging bottlenecks in their recruitment processes.
PASS’s growth is mirrored by the pace of the Regtech sector, the value of which is set to top $115 billion globally by 2020, rivalling even the Fintech sector. The Company’s growth plans beyond Europe are well underway, with the platform being used by organisations in North America, Asia Pacific and Middle Eastern markets. PASS is also set to realise the significant growth potential it sees in other sectors such as pharmaceuticals, healthcare, transportation, manufacturing, defence and gaming markets.
Luke Battah, PASS CEO, commented: “Our new team and strategy have set a new industry standard. We’re already providing governments and major global businesses with the tools they need to cope with the exponential increase in the scale and complexity of regulation they now face. Our systems, backed by powerful AI developed in-house, are able to offer more than a 150% increase in productivity compared to traditional manual processes, provide fully compliant solutions and reduce screening time and time-to-hire by 50% and 80% respectively.
“The PASS team possess unrivalled industry experience, and the effectiveness of our products is already driving expansion into North America, Asia Pacific and Middle Eastern markets.”