Advice and answers from the Preventor team:
Preventor is a cloud-based, multi-tenant SaaS solution which provides all the capabilities of large enterprise KYC/AML solutions at a fraction of the price! From advanced, AI-based analytics to network-based, graph visualization, Preventor provides small and medium-sized businesses with advanced tools for regulatory compliance, easily accessible from any device, and any browser!
Preventor is different because we host and manage our software in the cloud. This cloud-based approach provides the same security and capabilities as our competitors, but also includes the concept of collaboration. KYC and AML collaboration provide the users of the Preventor network to work together to build and maintain KYC identity records as well as the reporting and building of SARs records for reporting of suspicious activity.
By working together, our software users significantly reduce the cost of ongoing compliance because they participate in a network in which the compliance costs of a customer are divided among services provides that interact with that customer.
Although Preventor’s capabilities are targeted to small and medium-sized service providers such as banks and insurance companies in the America’s and the Carribean, the Preventor solution, being more advanced than any of our competitors, can be used by the largest of institutions. To learn more, contact us and we’ll provide you a quick demo of Preventor!
Yes, the Preventor solution uses blockchain. Why? Blockchain, an approach to data management that we’re sure you’ve heard a lot about, is a unique and very useful way to manage data in a collaborative network like Preventor. As such, Preventor uses blockchain, in our own private network – of course, for the storage and recording of any changes to identity and suspicious activity records.
What is blockchain? Blockchain is a new technology, a distributed database or ledger basically, which through the use of unique and complex cryptology allows for the immutable storage of data and the application of legal rules that allow for the electronic execution of legal agreements and contacts.
Well, no. Bitcoin uses blockchain – a technical concept – for the implementation of their payment network, but by itself, blockchain is much more than bitcoin. When applied to any number of use cases where immutability, contractual agreements etc. are required, blockchain allows for a very unique and bulletproof approach to solving specific data storage, management, and tracking needs. As such, blockchain was a great approach for the implementation of the Preventor Collaboration Network. In order to learn more about how Preventor allows for the sharing of data in the pursuit of customer clarity and monetary monitoring, give us a call and we’ll be happy to show you have it works!
We absolutely do! Feel free to connect with us on Telegram or any of our social media channels listed at the side, bottom and top of this site!