The blockchain-driven platform eCOM Registry is transforming how small and medium-sized enterprises (SMEs) in the international import and export sector access financing.
The innovative, data-driven approach not only enhances KYC/KYB checks and on-going account monitoring, but also pre-qualifies unexpected and underserved credit-worthy businesses through its proprietary data analytics and risk assessment models. Ultimately, eCOM Registry streamlines processes and opens up new opportunities for lenders and the company’s own financing arm to offer inclusive financing to SMEs in the global market.
Established in 2023, eCOM Registry partners with lenders and large trading communities, like ports and free trade zones, to bring trade finance services to thousands of SMEs.
The company harvests historical and real-time trusted trade data by accessing millions of data points from trade community hubs – each with thousands of SME members, including importers, exporters, freight forwarders, and shipping and trucking companies.
The platform transforms this data into data assets, from which it identifies suitable trade-finance SME candidates for lenders to offer finance in a secure way. It also precisely pulls from its trusted data points in deriving customer credit analytics and reports for financial institutions in supporting KYC/KYB processes when onboarding new customers, as well as annual account reviews and monitoring processes of existing customers. It leverages Artificial Intelligence and Machine Learning to develop business analytics, credit and risk assessment models when identifying, evaluating and pre-approving potential loan applicants.
The company currently has an exclusive partnership with OnePort Limited, a joint venture of large ocean terminal ports in Hong Kong, offering trade finance to over 10,000 SMEs of its community members.
“Coupled with our vast global partnership network, our 15-member Hong Kong-based team comprises seven nationalities, working across four countries and three continents,” said Managing Director Horace Mak, adding that the team’s combined knowledge of data and its applicability spans a host of industries, from logistics and shipping to finance, retail, education, healthcare and more.
In recognition of its leading-edge approach to credit data and analysis, eCOM DataFin, a wholly owned subsidiary and financing arm of eCOM Registry, won the Credit Digitalization-Data Analysis-Gold Award at the Hong Kong Digital Finance Awards 2024.
A few years ago, when transforming port community data into data assets for OnePort, the team uncovered a promising opportunity in the underserved market for SME cargo service financing.
“Unfortunately, the cargo service community is typically asset-light, lacking collateral and trusted data as evidence in proving the legitimacy of their business and performance,” explained Mak. “Lenders are reluctant to provide them with any financing facility or products.”
The company’s mission is to address part of the financial gap in the US$3.4 trillion global trade and service industry, focusing on the US$1.4 billion cargo service market with a US$500 million financing gap in Hong Kong. By leveraging alternative data and AI-driven risk models, it provides tailored and inclusive financial solutions that open new avenues for this segment.
Despite being an early-stage start-up, it has successfully partnered with four banks and one non-bank financier in Hong Kong. It is also actively expanding into the Greater Bay Area, targeting major ports and logistics hubs like Shenzhen and Guangzhou.
“By connecting with regional ePort providers, we aim to tap into a broad market of over 280,000 potential active importers, exporters, trucking companies, and freight forwarders, enhancing cross-border trade opportunities,” said Mak. “Globally, our expansion plans include entering the Australian market this year via planned engagement with Australia’s Port Community Provider.”
Mak said HKGCC has been invaluable in helping the company further understand and access business insights across different sectors, thanks to its vast community of member companies.
“We look forward to getting in touch with other communities in the market to increase our awareness,” he said, adding that the swathe of events and training courses offered by the Chamber are highly beneficial for businesses looking to connect and grow.
eCOM Registry Pte Ltd
HKGCC Membership No.：HKE0587
Established：2023
Website： www.ecomregistry.com