Data storage & privacy
The functional model above draws a distinction between operational data (such as the history of payments, FX quotes and local SLDs) and supporting data.
The Operational Data is only stored for as long as required and minimized to the essentials. Non-necessary data (especially any personally identifiable information) is erased as soon as permitted to maintain the highest level of privacy and security. The settings for scrubbing the data (such as the retention term, the data fields, etc) are configurable to comply with local requirements, including the maximum window for a payment reversal and any other compliance and record-keeping requirements.
The point-to-point communication between Nexus Gateways means that data related to a payment, in particular personal data, should only travel through – and be stored in – the two countries involved in the payment.
No shared ledger
Nexus has no common, shared ledger which would store all payments, FX quotes and SLD information. Instead, data is distributed and synchronised around the Nexus network and only stored where it is needed. Data that is not required by a particular Gateway is not shared (for example, a Nexus Gateway in Sweden would have no data on payments between India and Singapore).