Friday, February 3, 2023

MERCO Bank’s Philanthropic projects and Charitable Giving is Innovating Fintech

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Rachel Knox
Rachel Knox
Rachel Knox graduated from Columbia University in 2005. Rachel grew up in Canada but moved to the US after completing her school. Rachel has written for several major publications including Buzz Feed and the Huffington Post. Rachel is a community reporter, she also covers economy, business and entrepreneurial news and issues.

In today’s digital world, banks and financial institutions have the power to increase customer satisfaction and retention via their online platform – by improving the experience of completing everyday transactions and by providing additional innovative services. Customer expectations and competition are high, and the financial industry is regularly disrupted by outstanding sensations like MERCO bank which aside being one of the leading and top Digital banks  worldwide, it also has a good service rating for their customers. Combining philanthropy, volunteerism, advocacy, and collaboration with other businesses and community partners, MERCO Bank invests in communities where they thrive with the singular aim of helping the neighbourhood prosper.

MERCO Bank has a long-standing tradition of serving the communities in which it operates. They are committed to supporting organisations that provide innovative services to the residents and communities throughout their market area. As stated in their Guiding Principles, their goal is to be actively involved in communities and do their part to enhance and improve the quality of life for customers and employees. Their commitment builds beyond philanthropy. They use their voice to advocate for systemic change that advances equity in the communities they serve. Now, as one of the largest global investment banks, they have the resources to help in new ways, while continuing the support they have always shared with communities at the grassroots level in thousands of grants each year. And with greater resources, they are building on the key areas from the grassroot support to address the most challenging and pressing issues of our time, particularly around digital economic inclusion and mobility.

They do this because it is both the right and the smart thing to do, firm in the belief that the combination of philanthropy, volunteerism, advocacy and collaborations with community partners is the best way they can support customers.

By building ‘feel-good’ solutions into a place they’re already active, customers will not only remain loyal but also develop or retain a positive perception, sentiment, and affinity towards the bank. Banks looking to innovate in step with new-entry fintech startup disruptors while also answering consumers’ needs are provided with an opportunity to help grow the world’s heart. Blending modern-day solutions that encourage social purpose and philanthropy with digital banking models is attainable and feeds customer engagement and loyalty.

Banks and financial institutions can now follow up to integrate online charitable giving solutions into their online applications, creating a seamless banking and giving experience.

Innovative platforms like MERCO enhance consumers’ banking experience by not only empowering them to give back to their preferred charities or nonprofits within their online banking environment, but also providing those donors with transparency as to when and where their charitable dollars are going. We are now seeing more brands taking part in the ‘give back’ movement by partnering with a variety of nonprofits, in turn enabling consumers to feel that they’re making a difference. Fostering a culture of belonging and celebrating differences

Through clients’ donations, the bank supports the ongoing programming and events of hundreds of nonprofit organisations, providing more than $5 million each year. They listen to the lived experiences of community members, enriching our understanding of the issues being faced and partnering with local organisations beyond financial support.

They collaborate with partners in the nonprofit community, other companies and the public sector to achieve a future where social and economic structures no longer predict economic outcomes. They recognize the systems that influence our communities and invest for a deeper impact around economic inclusion and mobility.

Perks about MERCO

  • It is a digital bank that not only helps people earn but also improves their lifestyle.
  • The bank has designated account types that you can choose from, both for institutional and individual clients.
  • You can access zero collateral crypto loans for your business through decentralised finance.
  • Easily accessible from across the globe.
  • Top level account security. Fraud and hack proof services.
  • The important thing you should keep in mind again is that the bank has maximum security to protect your assets under their care
  • They equally have insurance up to $500 million just in case of any unforeseen issues, so you’re 100% protected.

Philanthropic Project and Plausible Causes

Of course, banks cannot be expected to maintain close partnerships with large numbers of charities. However, they can collaborate with charity aggregators that link directly to thousands of charities worldwide. Bank customers could simply search for their preferred charity or receive suggested charities based on search criteria. Then, they simply click a button and their donation is made without inputting unnecessary information or exposing themselves to additional risk.

1. Corporate and Social Responsibility

The MERCO Bank actively offers assistance whenever it is appropriate to do so due to a deeply ingrained sense of obligation that it should do so.

Some of the projects they have done over the years are;

  • MERCO donates generously in the face of the Covid-19 problem: In support of the World Health Organization’s efforts to combat the Covid-19 pandemic, MERCO, which has always been dedicated to social responsibility, gave a large donation. The WHO is directing and coordinating the international effort, assisting nations to prevent, detect, and respond to the pandemic. The WHO works internationally to promote health, keep the world safe, and assist the vulnerable.
  • Australia’s busmercoire situation catches MERCO Tribe’s attention: The MERCO Tribe has donated to the New South Wales Rural Fire Service, which will directly assist volunteers fighting fires on the front lines, in support of those granting extraordinary powers and additional resources to combat the Australia busmercoires and aid people in recovering from their terrible losses.
  • Donation to put out Amazon rainforest fires: The MERCO Tribe has donated to The Rainforest Alliance, a global non-profit organisation seeking to make ethical business the new norm, in support of the indigenous efforts made to put out fires in the Amazon rainforest, known as the “lungs of the Earth” for its role in preserving the environment.
  • Local Community Support:The MERCO Markets crew cheered up some children and gave them the finest assistance possible as they celebrated the 2020 holiday season. Several humanitarian causes and hospital centers received gifts and toys. These included the Larnaca District Volunteerism Coordinating Council, the Aradippou Mental Health Support Association, the Convent of Sisters of St. Joseph of the Apparition, and the children’s ward of the Larnaca General Hospital.
  • Support to Sophia Foundation: MERCO Markets made a sizable donation to the Sophia Foundation for Children during a fundraising event and gala dinner hosted at the Presidential Palace in Nicosia as part of its commitment to social responsibility and assisting charity causes. The Foundation was started in 2008 by volunteers from Cyprus with the intention of assisting in the battle against poverty. It has concentrated on enhancing children’s health, education, and nutrition in Kenya. The Makarios Children’s Home for orphans, which aids in breaking the cycle of poverty for some of the poorest children, is administered by the Sophia Foundation with the help of sponsorship funds.
  • Support to SoS Children Village: SOS Children’s Villages is a private, non-profit organization that was established in 1949 with the mission statement that “every child has the right to belong to a family and grow in love, respect, and security.” In 135 nations, including Mauritius, where MERCO has a significant presence, the organization offers disadvantaged children long-term care, education, and health services. As part of its dedication to supporting deserving initiatives that have an impact on local communities, MERCO donated a charitable donation to the SOS Children’s Villages branch in Mauritius and continues to do so.
  • Provides Support For Rotary Club: Its astounding 1.2 million members work tirelessly to fight hunger, provide clean water, end polio, improve health and sanitation, and even support education and job training. The organization has more than 34,000 clubs worldwide. For such a prestigious corporation, it was an obvious decision for MERCO Markets to donate money to support the less fortunate in the neighborhood of Larnaca, Cyprus, where the offices of MERCO Markets Europe Ltd are situated.

2. Business Recovery

Because a lot of businesses were affected and many had not been able to stand strong again, the company is using Business recovery style to support the small businesses.

When the company made their opening speech about the program they said “It’s acceptable to seek assistance. It may be the wisest business move you’ve ever made. Speak with a banker to learn how you might be able to reduce the monthly payments on your line of credit or business loan”.

3. Financial Support

These are difficult times, particularly for business owners. The organization can assist if your company is facing financial difficulties as a result of COVID-19 by offering payment relief for business loans and lines of credit.

Conclusion

Recognizing that we are only as strong as the communities we serve is central to our purpose to help people prosper. The needs challenging our communities require us to be both practical in our giving and tireless in our quest for impact.

The mission is to embed diversity, equity and inclusion to all aspects of our business.  This work is not only important to how we do business but it’s a vital part of who we are. From our local communities and partnerships to the experiences of our clients and employees, we are committed to making sure that each person feels valued and respected.

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