Doku-sharing solutions within financial institutions that stand against malicious attacks.
Prevent fraud and malicious attacks Against financial institutions, Christopher Ansara was the best for ALT / AVE design. He shares the secrets of his success with business.
Which product or service does ALT / AVE provide?
Our core product, docStribute, enables financial institutions to distribute mandatory and highly regulated documents to customers, offering customers a secure and sustainable digital alternative to sending documents by mail, while helping organizations meet legal requirements set by the Financial Conduct Authority. (FCA).
docStribute is a distributed laser solution that uses the Hedera Hashgraph Network, a decentralized enterprise-grade public network on which anyone can build secure, fair applications with real-time finality. The use of header networks provides the highest level of security to prevent malicious attacks.
What kind of business do you work with?
Our target clients are primarily, but not exclusively, across the spectrum of financial services, including high-profile retail and business banking, investment banking, insurance, investment funds, life insurance and pensions-related sectors, such as utilities and telecoms. Areas important to us. Basically, we see Docstribute as applicable to any industry where document security and integrity are of utmost concern.
What problem does ALT / AVE solve?
Digital delivery of certain documents, such as terms of service and contracts, is highly regulated, complex and expensive; Often financial institutions return to distribute printed documents instead, to ensure compliance. Not only is it expensive but it also creates a lot of paper waste with environmental impact. According to a 2018 EY report, in 2017, financial services companies sent 5.2 billion paper documents to their clients, representing a critical and under-reported environmental problem.
If implemented, our solution would result in a 95% reduction in paper usage and a 25g reduction in CO2e per document compared to postal delivery.
While it is important for our clients to understand how financially profitable our offer is for their customers, as well as for Alt / Ave investors, it is important to understand that at the same time our target clients deliver extensively to decrypt customer communications!
What is your USP?
What we bring to the table is faith, minus tons and tons of paper and the associated carbon footprint.
We deliver faith on multiple levels; For example, for our customers, who need to believe that they are safely fulfilling all their regulatory obligations, as well as for their own customers who can always trust us to maintain the integrity of their documents. Finally, Alt / Ave is enabling businesses to play a major role in helping the UK, one document at a time, meet its net zero decarbonization targets, where it provides companies with the tools they need to score high in classification alignment and end up “green. Wash “once and for all!
What is the value of your company? Have you ever challenged them?
At the core of our values are sustainability, transparency, and, as I said before, trust, on which every part of our operation depends.
So what do all these practical terms mean? For us, we take no shortcuts when we build our technology and make sure we are as energy-efficient as possible. We are not here to greenwash the industry. From a sustainability standpoint – there is no point in coming up with a worse solution than the real problem!
How do you ensure that you are hiring a team that reflects your company’s values?
We are extremely fortunate that, as a young company, we have been able to recruit our team with our values in mind from day one. It is also true that like any living creature, a company like ours is always growing intellectually and part of what we are looking for in our people is the desire to develop, change and grow our corporate culture as we continue to mature as a business. Placing people at the center of such a policy creates a sense of concerted effort and enables our employees to fully immerse themselves in the values of our company, in a natural and seamless way.
Are you happy to offer a hybrid work model for the next home / office?
More happy. We are adopting a hybrid post-covid home / office model and we have already noticed many positive benefits for employees and the overall business, including productivity and improved well-being. This means we have more flexibility when it comes to recruiting talent from across the UK, not just from London. For us we are getting the best of both worlds; When people are together they create the necessary comradeship in a successful company, while we also get the benefits of having a mentally balanced team.
Do you have any tips to effectively manage suppliers and customers?
It is essential that you always listen to the needs of your customers and be very clear and transparent when communicating with you. It is also important to provide your words. Don’t make promises that you can’t keep and your relationships will be more harmonious and productive.
On a more practical level, as a fintech founder I would add this because there is a lot of technology out there to help you do business, research is crucial. Do it! Keeping an eye on all the details of what works best for your business can be the difference between a smooth running operation and the annoying annoyance of investing in the wrong platform every day, be it accounting software, video conferencing or messaging services.
Any money or cash-flow tips for starting a new business?
A lot of good ideas end up failing to meet their potential, and the reason they don’t always turn out to be great products is because the founders and their early employees don’t focus on the everyday basics of what they’re spending their money on.
As important as preparing the market for your revolutionary ideas is to ensure that you do not destroy yourself before launching. You need to understand what you are spending your money on and keep an eye on small expenses.
A good idea here is to use technology to improve skills, and never think that you don’t need a good accountant because you do!
What if you could change the government one thing for business?
If you ask my CFO, the answer would be to provide more and better targeted financial incentives for start-up companies. I would not disagree, but I would argue that in order to reach net zero by 2050, a truly dedicated government should create a simplified framework that rewards all organizations that support this goal in any way that has a positive impact on the environment. Perhaps this creates a more publicly visible ‘Net Zero 2050’ campaign that can be embraced by companies that are working to be part of the real solution. It can even help customers and the public understand how environmentally responsible each business really is.
What is your attitude towards your competitors?
We understand that this is a competitive market, and it is important to pay close attention to what is there to find your business location. Above all, keep an eye on what your competition is up to, but don’t be too preoccupied with competing and losing when it comes to delivering what your customers want. What you don’t want to do is spend so much time worrying about a competitor where you lose sight of the problem you’re first trying to solve for customers.
Technology is extremely fast moving, so keep an eye out and keep an eye on that vision. For us it’s the safest, most energy-efficient way to communicate with customers. And the amount of surveillance on the opposition will not change!
Any thoughts on your company and the future of your dreams?
Our current focus is to integrate the broader understanding of docStribute and raise awareness of the potential of the core product.
RegTech is a 6.5 billion global industry and non-compliance with industry regulations, costing the global financial services industry a total of $ 10.4 billion last year. Thus, there is a significant need for a technical solution to an ancient problem – how to stay within the rules and meet the legal obligations.
As a disruptive solutions provider, we are growing day by day and experiencing continuous improvement across the board. We are part of an exciting and growing space, and in which we are well positioned to be a leader, so the future is very exciting.