Frequently Asked Questions
What is Wizkey?
WizKey is a Milan-based FinTech company, offering innovative solutions for the financial sector. Our main focus is on structured finance products and, specifically, on enhancing the process of management and transfer of credits.
WizKey positions itself as a technological partner that is disintermediated from the processes carried out by the users guaranteeing greater security and compliance with regulators, as well as enhancing a secondary market for credits that is truly global, efficient, and secure.
What is WizKey Define?
WizKey Define is a platform specifically designed to answer the needs of a secure, efficient and transparent infrastructure to manage different categories of assets (including performing, NPL e UTP) that would fit the needs of all market players.
WizKey Define is an innovative tool that allows the conversion of typically illiquid assets such as credits into liquid tokens that can be immediately traded on the secondary market. By doing so, Define improves current processes and maximizes the value of assets exchanged on the platform.
What is structured finance?
The term structured finance was born during the second half of the eighties, following a massive deregulation of the financial sector in the USA and UK. The term refers to strategies that have the aim of converting typically illiquid assets into liquid assets by redistributing the associated risks within the financial system. This is done through the so-called “securitization” of assets, where single financial instruments, such as debts, are pooled in a new security, backed by the same underlying assets. The main instruments are: Syndicated loans, asset backed securities (ABS), Mortgage backed securities (MBS), collateralized debt obligations (CDO), collateralized bond obligations (CBO).
Why do we choose Ethereum?
Our technological choice is also one of our differentiating elements. After a careful cost-benefit analysis of the innovative solutions currently available, we have decided to adopt the public blockchain of Ethereum. Our choice is justified by both strategic and technological features: the security provided by the network is unmatched by permissioned counterparties; Etherum is censorship-resistant and borderless; the flexibility of its language allows for Turing-complete smart contacts; guarantees interoperability with other blockchains and last but not least the possibility to create fungible ERC-721 tokens.
How can I use WizKey?
The modularity of WizKey DeFiNe allow us to create customized solutions for different types of assets or stakeholders. For more information, reach out to firstname.lastname@example.org
What is a WizKey Node?
The WizKey Node (WKN) is a docker container with hybrid deployments of a set of backend services, both on premise and on a dedicated cloud storage, completely independent from the WizKey cloud. The WKN stores documents within the cloud, preserving the privacy of users (sensitive information is stored locally and never leave the users’ cloud). WKN offers the creation and storage of all metadata regarding the documents, as well as an AI to analyze documents, directly implemented within the client of our customers so they do not have to share date with WizKey at any time.
The WKN has also an integrated WizKey nodes that provides audit on the receipts during the notarization process, ensuring the integrity of documents and transactions.