TFD Initiative

News and Press Release

Mercore makes entrance into the TFD Initiative

The Trade Finance Distribution Initiative is excited to welcome NBFI trade finance specialist, Mercore, as its latest joiner to the community of banks, non-bank originators, asset managers and service providers.

The TFD Initiative which brings together close to 70 global members is working to establish trade finance as an investable asset class for capital market firms.

“Mercore is absolutely delighted to be part of the TFDi. We see the trade finance gap worsening as a result of the high cost of servicing SMEs and those companies transacting in developing/emerging markets (i.e., the underserved segment). If we, as a collective, can make transacting in this segment more operationally efficient, we will drive more liquidity into the trade finance asset class,” says Anthony Wadsworth-Hill, Co-founder, and COO of Mercore. “The TFDi naturally enables this, by creating a means through which institutional investors can access trade finance assets cheaply and expediently, alongside more traditional asset classes. This initiative, together with our strategy at Mercore to reduce the costs of KYC and AML processes, enables us to make important strides towards unlocking global trade opportunities for businesses of all sizes.”

The TFD Initiative is made up of stakeholders committed to increasing the level of transparency in trade finance assets and enabling risk distribution through technology-based market practices.

“Non-bank originators such as Mercore represent attractive new options for mid-caps, their SME suppliers, and also for institutional investors.”, says André Casterman, Chief Executive, TFD Initiative. “Through TFD Initiative, we are building the largest trade distribution community and delivering the most comprehensive technology stack for trade originators of any size to increase balance sheet velocity and partner with a much larger pool of liquidity providers. Partnering with TFD Initiative contributes to closing the trade finance gap.”

The TFD Initiative continues to expand its membership of elite trade finance businesses and will further its efforts in promoting the tech-backed originate-and-distribute model at its inaugural flagship Trade Finance Investor Day scheduled for mid-October this year in the UK.

About Mercore

‍Mercore is a non-bank financial institution specialising in the provision of trade finance to SMEs and customers with trade flows involving developing/emerging markets. We are committed to financial inclusion, delivering solutions that ensure trade finance can reach all legitimate business opportunities in a timely manner.

We continually strive to challenge the status quo, with the progressive adoption of proven technological advancements, as evidenced by our membership of ITFA's Digital Negotiable Instruments (DNI) Initiative, our collaboration with Enigio, and now joining the Trade Finance Distribution Initiative (TFDi). In April 2023, Mercore won the ‘Best Use of Interoperable Digital Trade in the Banking Sector’ at the inaugural International Chamber of Commerce’s Digital Trade Awards for our digital bill of exchange transaction, financing the purchase of sugar from Nicaragua by a UK SME.

About the TFD Initiative

TFD Initiative is establishing trade finance as an investable asset class for capital market firms and brings together stakeholders committed to increasing the level of automation and transparency in trade asset and risk distribution with technology-based market practices.

The ITFA Fintech Initiatives aim to address two market-level ambitions: DNI Initiative focuses on digitising trade documents and negotiable instruments in corporate-to-bank relationships, whilst TFD Initiative transforms trade finance as a digitally investable asset class for banks, credit insurers and institutional investors. Our advocacy task force (TERA) aims to promote the integration of digital options such as MLETR-based e-originals within national laws.

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