While the number of small and medium-sized businesses (SMEs) looking to provide products and services abroad increases, Berg Money aims to provide a suitable cross-border solution.
UK-based payments provider Berg Money has launched its newest platform for European and Middle Eastern SMEs ‘Berg Business’. The platform aims to enable SMEs to open accounts in multiple currencies and facilitate international trade. It also hopes to reduce operating costs and foreign exchange (FX) charges.
Berg Money’s platform plans to improve both operating efficiency and customer experience when buying or selling products and services across borders. The platform promises a significant change in policy for customer onboarding, technical support and relationship management for all customers. The changes look to result in a much-improved customer experience.
Berg Business is to use a single portal which enables SMEs to access multiple payment services. Berg Money claims that the platform enables “customers to compete in an increasingly complex global marketplace”. The solution appears to address cross-border payments efficiently for small businesses.
Another route for SMEs that can’t access traditional providers
While the number of small businesses looking to offer services worldwide increases, so does the number of SME owners being turned away by traditional financial service providers. Berg Money explains that it is targeting the eCommerce sector by offering payment solutions for companies looking to go global.
Built using cloud architecture, the Berg Business platform is aiming to ensure it is always accessible from any location. It looks to enable businesses to open business accounts, pay and be paid and operate in multiple currencies at transparent exchange rates.
Dennis Nemerov, CEO of Berg Money, explained what the new platform could do for SMEs. He said: “We are excited to offer our customers a better experience and improved service levels.”
“Our platform provides much-needed reliability and transparency for companies doing business internationally. Our value lies in the ability to remove hurdles when opening a business account and offering payment services at a fraction of the cost versus high street banks and legacy providers. We aim to board and activate customers the same day, but always in under 48 hours, [from] start to finish. All of this is now available through one application and dashboard to stay in control of your business.”
Berg Business also enables SME eCommerce businesses to apply for business loans of anywhere from £1,000 to £500,000. The website boasts a loan approval in as little as 24 hours, taking only five minutes to complete an application.
