4 years ago

ALT/AVE Raises £535K to Reduce Paper Waste in Financial Services

  • ALT/AVE, a UK-based RegTech startup, has secured £535,000 in funding to reduce paper waste in the financial sector

  • The funding includes a £148,000 Innovate UK grant and £387,000 in pre-seed capital from various investors

  • ALT/AVE's solution, docStribute, utilizes distributed ledger technology to offer banks and other regulated institutions a secure and sustainable digital solution for distributing highly regulated documents to their customers

  • The company claims that docStribute will result in a 95% reduction in paper usage, a 25g decrease in CO2e per document compared to postal delivery, and cut costs by as much as 70%.

      • ProblemFinancial Services

      "The financial sector's reliance on paper causes severe demands on green plants, environmental pollution, and risk of non-compliance."

      Solution

      "ALT/AVE's docStribute solution utilizes distributed ledger technology to provide banks with a secure, sustainable, and compliant digital process for distributing regulated documents to customers, reducing paper usage, CO2 emissions, and costs."

      Covered on