Greengage, which is currently seeking licence permissions to become a digital merchant bank focusing on UK small business lending and cryptocurrency businesses, has partnered with fintech provider mnAI for access to millions of real-time data points.
Greengage is building the first digital merchant bank in Gibraltar focusing on UK small- and medium-sized enterprises (SMEs) and crypto businesses post-regulatory approval. It will offer loans to SMEs from its anticipated crypto-asset client depositors and open up the real-time data on SMEs to its clients.
mnAI’s platform uses artificial intelligence and machine learning algorithms to track every UK company in real-time. Clients such as Greengage benefit from over 9.5 billion data points covering more than seven million UK companies.
Greengage said that it recognises the funding gap for SMEs and being able to map out the extent of the existing crypto-asset company ecosystem allows it to better understand funding gaps in order to support crypto-asset companies with access to mainstream banking.
“Greengage [is] facilitating access to the mnAI SME data and analysis to help provide additional insights into the important SME sector, and to start discussions with potential interested partners to address the £22bn plus SME funding gap as highlighted by the Bank of England,” said Sean Kiernan, chief executive of Greengage.
“We’re delighted to work with Greengage,” said John Cushing, chief executive of mmAI.
“The collaboration is an excellent opportunity to showcase not only the power of mnAI, but also the services that Greengage offers to their clients, and we’re excited to be part of their journey as they continue to grow.”