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Mercore
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Mercore seeks to enable merchant corporate entities to access finance for their global trade needs and ambitions. This will be done through optimising these businesses' positions from a KYC/AML and financial/credit due diligence readiness perspective.The global trade finance gap is estimated to be at least US$1.5 trillion and has its most significant impact on SMEs and entities operating in developing markets; with almost half of all applications for trade finance being rejected.There are many factors driving this high rejection rate: entity risk assessment complexity, cross-border transaction complexity, lack of digitalisation, regulatory capital requirements for banks among many others. All of these aspects lead to a high cost of service for banks/financiers and therefore the customer relationship income/viability thresholds are set at a high level, leading banks to prioritise larger organisations with substantial balance sheets and significant transactional volumes.The outcome is that smaller organisations, who do not meet that high relationship viability threshold, have fewer (and sometimes no) options for financing. Where options do exist, they are likely to be significantly more expensive reflecting the higher cost of service.Mercore's approach utilises cutting edge technology solutions to enable a seamless customer onboarding journey. Our digital platform is complemented by a practical 'concierge' style support team of experienced analysts who know what is required to be 'bankable'. We will provide an independent verification layer to potential providers of finance via the Mercore platform enabling KYC and other due diligence to be utilised repeatedly across a variety of transactions and finance providers on the Mercore platform.This lowers the cost of service which, in turn, lowers the relationship viability threshold, so results in greater options for financing at improved lending rates for borrowers.