Storj Labs Partners with Ahrvo Labs

Ahrvo Labs, Inc. and Storj Labs, Inc. 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.

Ahrvo offers payment and compliance solutions that optimize payment and banking processes and ensure regulatory compliance. Their payment gateway features a single on-boarding process that can access 200+ leading financial institutions worldwide.

The company serves clients in North America, UK, Europe, Latam, Africa, and AsiaPac 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.

Ahrvo’s platform is ISO 27001, PCI DSS, GDPR, and CCPA compliant. The platform enables on-boarding 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 on-boarded individuals and businesses for future KYC and KYB on-boarding.

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 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 WW and 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 and CEO stated: “Our partnership with Storj enables us to offer distributed storage and shows Ahrvo Labs’ commitment to industry-leading innovation, global on-boarding 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 changes how CeFi and DeFi conduct KYC, KYB, and AML processes, eliminating the need to store PII, thereby reducing data security risks. With Ahrvo’s portable ID and document solutions, businesses can experience up to 90% reduction of on-boarding times while ensuring regulatory compliance.

Ahrvo Comply streamlines compliance by accessing and validating data from a network of over 40,000 banks, 10,000 utility companies and 1,000 government databases. This database empowers regulated organizations WW to conduct real-time verification of bank account details, addresses, and business registration information. Each verified statement is accompanied by a certificate of authentication and data is 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.

Ben Golub, CEO, 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, the 2 partners are advancing the technology and infrastructure that paves the way for tomorrow’s global digital finance industry.