SoLVBL Solutions (CSE:SOLV) is a technology company developing software as a service (SaaS) products designed to provide authenticity and security to existing data management systems, specifically digital financial platforms and information databases. SoLVBL is focused on developing data management and protection solutions designed for businesses with sensitive data worth forging, with potential applications in a number of industries.
The company’s flagship product, Q By Solvbl, is designed to encrypt and store a representation of the data, allowing seamless cooperation between businesses and users. By cryptographically sealing a representation of the data, rather than the data itself, SoLVBL is able to remain data agnostic and maintain an additional level of security. Q By SoLVBL can be used as a digital payment instrument, a means of fraud protection, or as a central authority for verifiable data repositories.
Q By SoLVBL is an enterprise-level data protection platform capable of processing over 150,000 transactions per second. The platform is offered through SoLVBL’s SaaS business model, which the company intends to expand through additional product offerings that leverage the Q by SoLVBL digital infrastructure. Q By SoLVBL is backed by a private blockchain to ensure the credibility of the data on the platform. By providing an immutable record of all data used, SoLVBL is able to operate the platform through compartmentalization without having direct access to the data itself, providing an additional layer of security.
The Q By SoLVBL system is designed to enable secure digital payments for existing banking systems. The company’s fraud prevention system was designed with incidents like the notorious Bangladesh bank heist in mind. The heist saw hackers withdraw over US$81 million from banks using the Society for Worldwide Interbank Financial Telecommunication (SWIFT) system, demonstrating the need for financial institutions to keep pace with the technological capabilities of hackers and cybercriminals.
SoLVBL Solutions’ Company Highlights
- Global fraud detection and prevention market is expected to grow from US$19.5 billion in 2018 to US$63.5 billion by 2023 at a CAGR of 26.7 percent
- Q By SoLVBL leverages a private blockchain to ensure an immutable representation of the data, without giving actual file access
- Representation of the data is cryptographically protected, ensuring all parties can rely on data presented on the platform
- ‘Q’ Platform can be adapted for additional security applications including the SWIFT network, B2B transaction improvements and data repository solutions
- Q By SoLVBL is capable of processing 150,000 transactions per second based on trials conducted by the company using the cloud
Q By SoLVBL
Q By SoLVBL is the company’s proprietary software designed to digitally “stamp” or “seal” data through encryption, enabling verifiable digital payments with fraud prevention and other security services. The Q By SoLVBL system can also be applied to varying types of digital data, enabling a verifiable data repository that can be relied upon by businesses utilizing the platform.
As shown by the Bangladesh bank heist, during which hackers escaped with US$81 million in stolen funds, there is a need for financial institutions to improve the security standards protecting their data. “Increasing revenue losses for organizations due to the rising fraudulent attacks, increasing use of electronic transactions across all the verticals and increasing sophistication level of cyber-attacks across all regions will contribute to the growth of the overall FDP market,” said Markets and Markets in a report on fraud detection and prevention. According to the company’s projections, the fraud detection and prevention market is expected to grow from US$19.5 billion in 2018 to US$63.5 billion by 2023 at a compound annual growth rate (CAGR) of 26.7 percent.
By providing an enterprise-level platform capable of quickly verifying data, including financial information, Q By SoLVBL has the potential to enable new levels of cooperation between businesses that can agree on the reliability of the information on the platform without the need to independently verify the data. In addition to financial services, the Q By SoLVBL platform can be adapted to serve any industry that relies on sensitive data worth stealing or forging. Whether the underlying information includes financial data, medical data, product specifications or pharmaceutical information, all forms of digital information can be immutably protected and referenced for trustless use between parties.
Moving forward, SoLVBL intends to continue to develop payment security and risk reduction applications for financial networks while also working to improve B2B transactions on the Q payment platform.
Solvbl Solutions’ Q Authentication Platform
SoLVBL plans to monetize its Q Authenticity Platform, including Q By SoLVBL, by collecting a percentage of financial transactions conducted on the network. The company also intends to offer tiered pricing for access to the network.
Moving forward, SoLVBL is working to develop a digital cheque that can be authorized and encrypted in order to improve the efficiency and safety of transferring funds in the digital domain. The company is also exploring the potential to apply its technology its technology to Next Generation 911, Chain of custody authentication for digital evidence and Supply chain sensors such as trackers.
SoLVBL Solution’s Management Team
Raymond Pomroy, CEO
An international manager, who has exceptional experience in business management and supply chain management (e.g. Make, Plan, Source, Deliver) primarily in UK, Holland) Canada and the US. Prior to joining Agile, Raymond had been working in a multinational consumer goods company for 30 years, and managed all elements of supply chain, including USD$2.8 billion in product supply, six factories in North America, and over 2,000 employees. He is experienced in supply chain strategy development, global supply, organizational redesign and implementation of restructuring, contract negotiations, and cost reduction activities. Raymond holds a Bachelor of Science and DIS from Loughborough University (UK).
Khurram R. Qureshi, CPA, CA, CFO
Khurram Qureshi brings over 22 years of experience in the field of accounting and corporate finance. Khurram qualified as a Chartered Accountant in 1990 and has held senior positions with several small to medium-size public companies. He has been a key member on several merger and acquisition teams.
Vikas Gupta, Director
Vikas is a seasoned executive with an entrepreneurial DNA and has a strong track record with private and public companies. He is well versed in gamification, digital distribution, video games, interactive entertainment and content. Additionally, he has also built very strong expertise in financings, the creation of unique revenue models, the monetization of complex technologies, leadership, and overall growth.
Musabbir Chowdhury, Director
Musabbir is an engineer who is a business, education and technology consultant with over 20 years of IT achievements. Musabbir is a former Professor at the Niagara College School of Business, and former director of Pi Lab, an innovation & productivity hub at Niagara College. Currently, Dr. Chowdhury is the Dean of Business at Fleming College in Ontario.
Brenda Brown, Director
Brenda is the former Senior VP of Global Talent Management at Compass Group PLC and has over twenty-five years of business experience in all aspects of Human Resource management in both union and non-union environments. As a member of the executive management team, Brenda was involved in key strategic business decisions and was responsible for the development of employee programs, corporate culture development and assisting in ensuring the success of the corporate vision.
Alan Rootenberg, CPA, CA
Alan Rootenberg is a chartered professional accountant who has served as the Chief Financial Officer of a number of publicly-traded companies listed on the TSX, TSXV, OTCBB, and CSE. These companies include mineral exploration, mining, technology, and companies in the burgeoning cannabis industry. He was also an investor in an early stage private cryptocurrency company. Alan has a Bachelor of Commerce degree from the University of the Witwatersrand in Johannesburg, South Africa and received his CPA designation in Ontario, Canada.
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The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Solvbl Solutions and seek advice from a qualified investment advisor.
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