We operate a common technology platform that validates data and information so that different stakeholders can trust its accuracy. Introducing trust into the decision-making process enables our customers, many of whom are in highly regulated markets, to make smarter decisions, reduce risk, and improve operational efficiency. Currently, we operate in targeted markets where demand for higher quality at lower costs is not being met. In the US, Canada, and the UK, we have established long-standing leadership positions in the vendor certification market. This leadership position has created a significant “network effect” that enables scalability, increased user loyalty, and strengthened our value proposition while maximizing our pricing power and profitability. We launched our vendor authentication solution RepTrax (now Sec3urePassport) in 2007 and have developed additional services to complement the community since then. In 2018, we expanded SEC3URE to provide certification services for medical staff, physicians, nurses, and clinical contractors, all of whom are paying users. Our service-oriented platform and innovative business model has amassed a member community of around 641,000 Rep users, of which approximately 121,000 are paying users. There is huge potential for further growth in the supplier certification market, and by leveraging our leading position, service-oriented technology platforms, and a ten-year track record of bringing trusted information to Loc subscribers, we believe our success can be replicated in other vertical fields and geographic markets. To meet Asia's huge demand for reliable medical information, we recently set up a joint venture in China that will introduce this technology platform in China.
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