Alexander theorem says oriented links in $\mathbb{R}^3$ can be represented by closures of braids. Markov theorem says that braids related by Markov moves produce isotopic braid closures, and vice versa. Hence any map $\Phi$ with domain the infinite braid group $B_\infty$ (or its group algebra) that equalizes on the Markov relations gives an invariant of oriented links.
For example, in [1], Vaughan Jones showed that with $\Phi = Tr \circ Pr$, where $Tr$ the (rescaled) Ocneanu trace and $Pr$ the quotient map to the Hecke algebra of type A, the HOMFLY-PT polynomial is recovered. This 2-variated polynomial is very strong: It specializes to many other well-known link invariants including the Alexander polynomial and the Jones polynomial. With the Hecke algebra being semisimple (generic $q$), Artin-Wedderburn decomposes it into a direct product of matrix algebras. Jones then showed that the Ocneanu trace $Tr$ is just the matrix trace suitably scaled on each multiplicand. (In fact, the Jones polynomial can also be obtained with a similar fashion by further quotienting the Hecke algebra to the TL algebra [2].)
Question
$Pr$ passes the braid group algebra (infinite dimensional) to the easier Hecke algebra (finite dimensional) and may potentially lose information. Are there any known link invariants arise in similar fashions, but do not "factor through" Hecke algebra?
For example, instead of quotienting the quadratic relation $\sigma^{2} = (q-1) \sigma + q$, why not try relations of higher order (cubic, quartic, so on)? Or, how about not quotienting (thus not losing any information) at all? It must be a difficult approach, but I hope to see some efforts made in this direction.