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10 December 2021
Interview with Paolo Bernardini, CEO of IRETH, published in the Il Sole 24 Ore newspaper concerning the birth of Smart Bank 800.
The benefits of Smart Bank 800 are numerous, both for the company and its customers. Companies can offer their communities banking services that allow them to increase loyalty, expand their customer base and reduce costs. The customer, in turn, will have a cheaper, smarter and safer service. In fact, Ireth uses an infrastructure based on a private blockchain architecture capable of guaranteeing maximum security.
To better understand what exactly this service is, we asked Paolo Bernardini a few questions, CEO of IRETH, a company belonging to ITIGROUP, an international holding operating in various sectors whose mission is the development of promising startups and investments in companies with high technological potential.
We decided to invest in this Fintech solution because in our lenghtly experience in the strong authentication sector, especially for Home banking, we were able to observe what the needs and requirements of modern banking services are today. Today, in fact, we expect to be able to use services that are less and less bureaucratic and increasingly smart, digital and secure, as the name of our solution suggests. Our proposal is designed with this in mind.
To all those companies that have a widespread clientele and that intend to expand the offer of their retail services through an advantageous, immediate and easy-to-implement banking service. For example, large-scale retail trade, Telcos, industrial districts, insurance companies, the banks themselves, marketplaces, sports clubs or various associations may be interested. Customers will be able to take advantage of a practical, agile and effective service, when compared to conventional banking services, while the company will derive economic and image benefits, relying on greater loyalty of its customer base and various marketing initiatives.
The very interesting aspect is that transactions have no cost within the community. For outgoing transactions, when the limit of operations is exceeded, a cost may be applied, which will in any case be lower than that of traditional banking operations.
The characteristics of SB800, in addition to guaranteeing a complete solution for digital banking, naturally lead to loyalty. Services such as wallets for free peer-to-peer transactions within the community, cashback and microcredit are in themselves tools that lead to user loyalty. One of our goals is in fact to use the services provided by the same platform to create a network through which companies and organizations can improve their branding and enhance the sense of belonging in their communities.
Smart Bank is the most advanced digital banking solution on the market today. It is built on solid foundations by cybersecurity experts. The data management infrastructure is decentralized with very high security, built in partnership with Optherium Lab, based on the private Hyperledger Fabric blockchain. SB800 also includes KYC – Know Your Customer – features through the best digital technologies for on-boarding and user control, such as AI – Artificial Intelligence and Biometrics. Furthermore, the agreement with European partners such as PFS and Omnibek allows them to operate with EMI licenses of electronic money.
In this way, the company will be able to offer banking services in compliance with all EU community standards, including the protection of user funds, governance, control mechanisms, anti-money laundering, etc.