mercore
Mercore’s mission is to facilitate access to global trade for businesses in a compliant, transparent and secure environment. Organisations operating in the global trade finance ecosystems share a common challenge to remain compliant with complex regulations and shifting global standards. Mercore approached Tech Alchemy to build their KYC data wallet and management platform.
1
st
‘Digital Bill of Exchange’ transaction in the U.K.
45+
Years cumulative experience
150
Financial crime compliance professionals
Key Facts
1
st
‘Digital Bill of Exchange’ transaction in the U.K.
45+
Years cumulative experience
150
Financial crime compliance professionals
Problem
Statement
Mercore faced the challenge of developing a platform that prioritised customer needs while maintaining compliance with stringent regulatory standards. They required a solution that integrated intuitive systems with personalised support from experienced analysts, all while adhering to the complex requirements of the finance sector. This required a balance between compliance best practices and cutting-edge web development, presenting a challenge that demanded expertise and innovation.
Solution
Tech Alchemy tackled Mercore's challenge head-on by leveraging its extensive experience in banking and finance solutions, including traditional and DeFi approaches. The resulting solution includes a customer platform facilitating onboarding and lifecycle management of corporates and financiers, alongside an operations panel empowering Mercore analysts to efficiently navigate identification and due diligence processes.
Features
KYC Verification
Customers who are onboarded to the Mercore platform are verified by the integrated KYC services to understand their risk and financial profiles. Customers are screened by video identity and document verification checks, KYC/AML and biometric solutions.
Sanction screening
Mercore's screening service is an additional stage of customer due diligence. Using integrated third parties, customers are screened against sanction watchlists, AML checks, PEPs and adverse media associations. This helps to further develop an accurate risk score for a customer which then has a bearing on the finance solutions that are available to them.
TASK MANAGEMENT
Mercore's case and task management service provides the internal compliance team with end to end tracking of the tasks required for managing a customer through onboarding, case flags, periodic reviews and finance applications. The system keeps an auditable record of case notes, outcomes and conversations with the customer. The compliance team have the ability to create and assign tasks, set due dates and update the task statuses.
Platform Features
KYC Verification
Customers who are onboarded to the Mercore platform are verified by the integrated KYC services to understand their risk and financial profiles. Customers are screened by video identity and document verification checks, KYC/AML and biometric solutions.
Sanction screening
Mercore's screening service is an additional stage of customer due diligence. Using integrated third parties, customers are screened against sanction watchlists, AML checks, PEPs and adverse media associations. This helps to further develop an accurate risk score for a customer which then has a bearing on the finance solutions that are available to them.
TASK MANAGEMENT
Mercore's case and task management service provides the internal compliance team with end to end tracking of the tasks required for managing a customer through onboarding, case flags, periodic reviews and finance applications. The system keeps an auditable record of case notes, outcomes and conversations with the customer. The compliance team have the ability to create and assign tasks, set due dates and update the task statuses.