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Wonga Future 50: My Wealth Cloud

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Dropbox is an incredible service, making documents accessible from umpteen computers, or even just via a web browser. But the convenience is balanced by a low-level defence on the security front.

What if you want something for your more confidential documents?

My Wealth Cloud offers an improvement in two ways. The first is the security of its storage. Instead of Dropbox’s “always accessible” model, My Wealth Cloud keeps your documents locked in a virtual vault. This is inconvenient for everyday documents, but the service is targeted at vital, but not urgent documents, such as wills, bank statements, tax reports etc.

Naturally, there is the issue of how to get these documents online. This is the second USP. My Wealth Cloud collects all your vital paperwork in tamper-proof boxes and then scans them in. The paper documents are stored with Sterling Archives, a firm with 30 years’ of secure storage experience.

The idea is that if your house burns down, or you need a financial document whilst on holiday in the Bahamas, you can access what you need, but without compromising on security.

It’s worth noting that MyWealthCloud’s advisory board includes Joel Cadbury (serial early-stage investor) and Lord Dennis Stevenson, one of Britain’s foremost businessmen. They, like us, clearly see a novel take on the cloud computing model, and one with significant untapped potential.

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