A one-stop, cloud-based, trust account service platform providing the most secure and comprehensive financial protection

点击翻译按钮获取中文摘要

"Protected Travel Services is an ambitious IT services and business consultancy company providing an online trading platform for SMEs in the travel industry. Our services range from financial protection (Trust Account Services) to merchant facilities, back office software and supplier payments. We provide the only . As a result, our clients can manage their customers' trips from enquiry, through to their return from holiday -- from our one-stop-shop platform. We are highly innovative and have experienced rapid growth now serving clients from across the UK.We have been approached by client's and regulators asking us to expand our solution into other sectors (legal, tenancy and rentals, insurance and Business to Business transfers) and also identified an opportunity to serve the entire EU market. Key problems we intend to address include i) misuse of client account money due to mismanagement or misappropriation by solicitors, ii) high cost of running client accounts, iii) secure transfer of business funds and iv) the need to monitor, control and report financial solvency of parties to the insurance contract.The goal of our innovation project is thus to deliver an up-scaled platform that works across EU countries in multiple sectors, currencies and languages. We seek Phase 1 funding to carry out an in-depth feasibility study of the market to better understand the potential value of these new business lines together with developing an Intellectual Property (IP) strategy to facilitate international expansion. This will pave way for our Phase 2 technical developments and pilot demonstration leading to successful launch in 2018\. Through this project we will contribute to the efficiency of the target sectors, reducing costs by more than 20% through the use of our sophisticated scalable IT systems which are readily transferable between industries."