New Partnership Leverages Storj's Distributed Cloud Storage to Advance Ahrvo's Global Compliance, Payment, and Banking Network

ATLANTA, Feb. 27, 2024 /PRNewswire/ -- Ahrvo Labs and Storj are proud to announce a partnership through which Ahrvo will leverage Storj's distributed enterprise cloud storage to advance the delivery of Ahrvo's Portable Identity, Document and Transaction Management solutions. Through the Portable Identity Gateway, Ahrvo enables direct access to 200+ payment and banking organizations globally. Ahrvo's platform is ISO 27001, PCI DSS, GDPR, and CCPA compliant. The platform enables onboarding and client lifecycle management data collected during the Know Your Customer (KYC), Know Your Business (KYB), and Anti-Money Laundering (AML) processes to be controlled and reused by onboarded individuals and businesses for future KYC and KYB onboarding.

Storj has created a new future for cloud storage using spare capacity on drives and data centers, most of which are less than 30% full. It provides enterprise cloud storage using an innovative approach that starts with objects being automatically encrypted using AES-256-GCM encryption and split into pieces that can't be distinguished from any other object's pieces. They're distributed to uncorrelated nodes worldwide and easily reconstituted for download. Storj's architecture eliminates massive costs required to build and maintain data centers and avoids attacks that can be high-risk when data is stored in one location, which presents vulnerability as a single point of failure.

Appo Agbamu, Ahrvo Founder & CEO stated, "Our partnership with Storj enables us to offer distributed storage and shows Ahrvo Labs' commitment to industry-leading innovation, global onboarding efficiency, and world-class security and compliance. Especially as we formally launch the Ahrvo Network and shift our commercial attention toward Web3 adoption of our 20+ identity, document, and transaction management solutions to help bring the crypto industry into compliance and serve as open compliance infrastructure for DeFi developers to build on. Storj's distributed architecture helps ensure security, cost and resource efficiency, and high performance."

With Ahrvo's Portable Identity solutions, users regain autonomy over their personally identifiable information (PII), encompassing sensitive data like government IDs, biometrics, and financial documents. This revolutionizes how CeFi and DeFi conduct KYC, KYB, and AML processes, eliminating the need to directly store PII, thereby significantly reducing data security risks. With Ahrvo's Portable ID and Document solutions, businesses can now experience up to 90% reduction of onboarding times while ensuring regulatory compliance.

Ahrvo Comply streamlines compliance by accessing and validating data from an extensive network of over 40,000 banks, 10,000 utility companies and 1,000 government databases. This comprehensive database empowers regulated organizations worldwide to conduct real-time verifications of bank account details, addresses, and business registration information. Each verified statement is accompanied by a certificate of authentication and data is seamlessly integrated into machine-readable formats for enhanced usability and efficiency. This information can be synchronized with Portable IDs and provided in a zero-knowledge manner.

Ahrvo serves clients in North America, UK, Europe, Latam, Africa, and Asia Pacific regions and protects organizations with decades of compliance, fraud, and money-laundering prevention experience to improve efficiency across previously cumbersome business processes, while helping back-offices maintain regulatory compliance.

Ben Golub, CEO of Storj said, "The Storj partnership with Ahrvo extends their commitment to delivering the most advanced infrastructure and protocols to support seamless, efficient, secure, and compliant global financial transactions. We appreciate their vision and are proud to provide secure, high-performance global cloud storage that will accelerate their growth." Together, Storj and Ahrvo are advancing the state of the art for technology and infrastructure that paves the way for tomorrow's global digital finance industry.

About Storj
Storj is redefining the cloud to support the future of data—sustainably and economically. Storj leverages the vast global supply of underutilized resources to deliver services with better security, durability and performance. Experience up to 90% reduction in costs and carbon with Storj.

About Ahrvo
Ahrvo offers payment and compliance solutions that optimize payment and banking processes and ensure regulatory compliance. Their payment gateway features a single onboarding process that can access 200+ leading financial institutions worldwide. With secure global transactions and a commitment to regulatory compliance, their payment and banking gateway simplifies workflows and streamlines operations for businesses.

PRESS CONTACT
Jackie Lucas
+1 978-255-1159
[email protected]

SOURCE Storj