Verification infrastructure for asset-backed securitizations
Continuous, auditor-attested verification: replacing periodic, sample-based AUP trust across the US$3–4 trillion non-mortgage ABS market, and expanding it with US$2 trillion of issuance potential.
Cathmere
The market is moving from assurance to verification.
For decades, trust in asset-backed securities has rested on one-time due diligence, periodic sample-based testing, and executive certifications; all of them fallible, and all of them out of date the moment they're signed.
The direction of travel is unmistakable: away from assurance (periodic, sampled, backward-looking) and toward verification (continuous, from-source, real-time). Cathmere has built a platform for where the market is going.
A US$3–4 trillion market still runs on periodic trust.
Non-mortgage ABS (securitization of pools of contracts for use of equipment, energy, data centers, rolling stock, medical equipment, etc.) amounts to US$3–4 trillion every year. The reliability of those securities rests on assurance methods that essentially haven’t changed in decades and are based on sampling.
And the legacy trust infrastructure simply isn't available where the growth is. Cross-border, new asset classes, climate-linked and emerging-market deals are largely locked out today, which amounts to a further ~US$2 trillion of bankable cash flows with no path to institutional capital.
Continuous Quantitative Review (CQR), Cathmere's verification process, pulls live data from the source, records it on a tamper-evident ledger and analyses and triangulates it with AI across independent inputs. The result is a verifiable, real-time view of the assets behind the notes, available on demand.
Cathmere replaces sampling with continuous verification
Traditional ABS
- Static data, fixed at the date of issue
- Reliant on limited initial due diligence
- Periodic, sample-based auditor AUP reports
- No live view of the assets behind the notes
Cathmere — Continuous Quantitative Review
- Live data pulled from source — telemetry + ERP
- Tamper-evident records of performance and collateral
- AI triangulation across independent data sources
- On-demand CQR-AUP™ in place of sample testing
Better than trust · Faster execution · Lower cost
From physical assets to verified securities
Designed so a Big Four auditor can sign off, without a conflict
Verification matters even more if a recognized assurance provider can stand behind it. Cathmere's architecture is built so that a Big Four firm can attest CQR-AUP reports: that the system's integrity controls are set up as agreed, that reporting reconciles to the issuance documents, and that nothing has silently drifted since.
Crucially, the issuer chooses the auditor. Cathmere opens an audit node for whichever firm they select — no lock-in, no conflict of interest. The auditor remains the assurance principal; Cathmere is the infrastructure beneath them.
Start where the trust infrastructure is simply absent
It is easier to build where there is no incumbent than to convert a market set in its ways. Cathmere starts where the assets are attractive and the verification infrastructure doesn't yet exist: overseas contracted cash flows from renewable PPAs, OEM vendor leases and equipment finance , pooled by investment-grade originators.
These cash flows are sold to developed-world institutional investors who want them but cannot verify them today. Cathmere is the bridge. Developed-market ABS adoption follows as the assurance-to-verification shift accelerates — pushed along by high-profile collateral-integrity failures that periodic sampling never caught.