The answer to small businesses’ financial services needs
There are over 260 million small businesses worldwide today that are underbanked and underserviced.
NEXXO is here to provide the solution to bridge this gap. NEXXO’s solution brings you the partnership between local banks and local central bank regulators to provide a global financial services platform that caters to small business owners and operators. NEXXO transforms small business financial services by employing disruptive technologies driven by a local/global blockchain hybrid platform that is built on IBM Hyperledger.
Increasingly difficult to be serviced by banks
Banks often prefer to service larger corporate clients simply because they have low risk profiles, are easy to service with complex products, bring in large deposits and subscribe to highly profitable financing products.
In contrast, small businesses have a high-risk-low-margin proposition. Large commercial banks view small businesses as unfavourable and decline working with them as small businesses often do not have any collateral assets which banks require to mitigate risk. Deposits made by small businesses do not generate enough interest for the banks to be considered profitable, and often, small businesses do not have the capacity or capability to provide full audit reports which large commercial banks require before supplying their services.
How NEXXO can help small businesses
At NEXXO, we understand the frustrations and problems faced by small business owners when it comes to banks. Using our blockchain platform powered by IBM Hyperledger, we offer customized financial services solutions that cater to the needs of small businesses and their surrounding ecosystem. NEXXO leverages on the blockchain technology to collect and store KYC information, thus achieving a clear, undisputable audit trail that is compliant to local regulations.
By leveraging on the Hyperledger technology, its decentralized computing helps achieve a lower system cost, higher redundancy and better uptime, and allows our financial services servers to allocate processing across several servers instead of a single server. Data collected from consumers and financial services systems are stored across multiple servers which effectively reduces the chance of a single point of failure. Blockchain provides an improved secure system and protection for every transaction. Each blockchain transaction is immutable which will provide high quality audit trail. NEXXO’s solution also enables peer-to-peer small business lending.
A permissioned blockchain platform like Hyperledger, allows a set of pre-identified (permissioned) parties to transact securely onto a private blockchain with decentralized computing and data storage by using the Byzantine-Fault Tolerant consensus. Essentially making the Hyperledger architecture suitable for financial services. NEXXO utilizes this private and permissioned blockchain architecture in order to offer financial services to small businesses.
We are the one-stop solution for small businesses
NEXXO’s flexible blockchain platform is compliant with local regulators as its permissioned blockchain allows trusted information to be exchanged in a secure manner while ensuring transparency and accountability.
Through this, NEXXO aims to be the de-facto answer to the financial services needs of small businesses.
