11 Feb 2023
VITREUS Launches Next-Generation, Compliance-Focused Blockchain for the Financial Services Industry
VITREUS is a new digital infrastructure aimed at revolutionizing the financial services sector. The first-to-market platform is being developed for businesses such as Broker-Dealers, Tax/Accounting Firms, Insurance Carriers, Small Banks, Credit Unions, and the RIA market, with a focus on providing a compliant and secure solution to their needs.
VITREUS is designed to handle the heavy compliance lifting, ease the burden of physical storage, and automate an array of business processes that the financial services sector deals with regularly. The platform features a permissioned blockchain and a suite of software applications that provide an unparalleled level of cybersecurity, with data written to the ledger being immutable and non-fungible, ensuring a secure system for access credentials. With VITREUS, businesses can easily store and recall operational documents within seconds, taking comfort in the fact that the data has been approved by three levels of compliance assurance.
The need for a new solution in this niche became even more evident since the COVID-19 pandemic, with remote work being introduced and cybersecurity becoming an increasingly challenging front to maintain for multiple industries. VITREUS is a next generation, head-on solution for company-wide cybersecurity needs and offers a unique position on regulatory compliance. The platform is powered by artificial intelligence, which enables its client businesses to process their data through the proprietary compliance engine. This engine checks for business-based compliance objectives, regulatory rules, and compliance laws.
Managing the long-term storage of operational documents has always been a major headache for the financial services sector. The requirement to house documents for upwards of ten years can become difficult without investing in physical storage space. In addition, developing and maintaining a complex filing system can be a tedious task. With VITREUS, client businesses can quickly and easily store business operation documents and recall them within seconds, eliminating the need for physical storage space and complex filing systems.
Regulatory compliance is a critical issue for the financial services sector, and VITREUS stands to deliver a comprehensive solution, a multifaceted approach to assuring compliance. The platform offers a suite of business software applications focused on succinctly and effectively tackling the financial services industry's big problems with the latest technologies.
With digital transformation on the horizon, the financial services sector can leap ahead and regain its competitive edge.
Disclaimer: Nothing on this site should be construed as a financial investment recommendation. It’s important to understand that investing is a high-risk activity. Investments expose money to potential loss.
