“DB World” financing platform attracts more than 600 million loan applications…

DB World Group announced that its trade finance platform, DB World Trade Finance, has saved more than $600 million in credit limit inquiries by providing channels of communication between small and medium-sized businesses and financial institutions.

Sinan Ozkan, Senior Executive Director of DB World Financial Services, said in statements posted on the group’s website that the establishment of this platform is part of the group’s efforts to bridge the current global gap in trade finance. especially the financing available to the trade finance sector and small and medium-sized enterprises, as the total value of this gap is estimated to be approximately $1.7 trillion annually.

Ozkan said the platform aims to provide companies and projects belonging to this sector with a quick and streamlined path to secure the capital they need to engage in commercial transactions in global markets. Ozkan said that since its inception in July 2021, the platform has received a credit application for commercial financing, with the total value of its credit limits exceeding $600 million from small and medium-sized businesses.

Ozkan explained that the number of global customers registered on the platform currently exceeds 56,000 customers from more than 50 countries around the world.

The most recent customer was India Factoring and Finance Solutions Pvt. Ltd., a leading independent specialist trade finance product provider in India, is now able to use the DB World Trade Finance platform to lend with confidence to Indian SMEs.

Ozkan indicated that the platform has so far helped 20 financial institutions whose financing services cover 80 countries. She added that the registration period for any new customer on the platform does not exceed five minutes.