CSR Mercuria 2018 - Flipbook - Page 23
Mercuria is proud to be a founding shareholder of both Vakt and Komgo.
Vakt: Mercuria is a Member alongside Oil majors, other commodity houses and financing banks to
help the oil industry replace paper-based documentation with smart contracts resulting in cutting
costs, reduce the risk of errors and make post-trade processes more efficient. The platform comprises
a secure, real-time blockchain-based platform to manage physical energy transactions. Mercuria continues to take a leading role in Vakt through providing a senior Board representative.
Komgo: Mercuria is also member of this joint initiative between commodity trade finance banks and
commodity houses which radically simplifies and accelerates trustworthiness, auditability, and accessibility to trade financing across the industry. Again, Mercuria continues to take a leading role in Komgo
through providing a Board representative;
Mercuria will continue to work with the industry to improve the controls, digitalisation and oversight in
our markets.
Mercuria also seeks to deploy enabling and emergent technologies to pioneer specific solutions to
increase efficiencies and reduce operational risks in-house always seeking best practice methods to
maintain its competitive edge. Recently, this has included collaborating with an innovative Fintech
start-up to trial combining Optical Character Recognition (OCR) and Machine Learning capabilities to
assist in increasing the accuracy and speed of verifying a range of documents used across the back
office.
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