Users can power more sustainable business flows, tapping into
automated reports to measure key data against
internationally-recognized frameworks
LONDON, April 16,
2024 /PRNewswire/ -- Finastra today
announced that it has integrated AI-powered ESG (environmental,
social and governance) scoring capabilities into its working
capital solution, Trade Innovation. The integration, with
CoriolisESG by TradeSun, enables users to book and manage trade and
supply chain finance with the added benefit of automated insights
into ESG scoring. This results in greater understanding of the
sustainability of trade and helps organizations to better monitor
and manage their impact.
Iain MacLennan, Head of Trade and
Supply Chain Finance at Finastra, said, "Sustainability is a
growing imperative in the world of trade and with the continued
emergence and development of regulations in this space,
organizations must ensure they can measure their impact to help
meet the worldwide ESG mandates and understand where risk can be
better managed. That vision is now possible for users of our Trade
Innovation technology. Delivering this out-of-the-box integration
aligns closely with our company purpose to unlock the power of
finance for everyone and our mantra of 'doing well by doing good'.
We look forward to helping our customers gain valuable insights
into their ESG data for trade."
The solution enhances enterprise intelligence and resilience by
measuring key entity data against globally-recognized frameworks,
such as the UN Sustainable Development Goals and the EU Taxonomy.
Captured information provides insight into international business
activity, risk assessment, regulation compliance, geopolitical
risk, due diligence, and supply chain analysis.
Nigel Hook, Founder and CEO at
TradeSun, said, "We're really pleased to be a fintech
partner for Finastra. This integration of TradeSun's
CoriolisESG technology into Finastra's user base provides more
businesses with economical solutions that help advance their wider
sustainability goals. Together we
are accelerating sustainable global trade flows, with
intelligent and scalable technology to measure impact
and to help ensure a better future for all."
The partnership between Finastra and
TradeSun encompasses the full TradeSun
Intelligence platform, including OCR, document checking,
real-time compliance and global markets analytics. This unique
trade digitization product has ESG assessment built-in, offered in
line with the ICC Principles for Sustainable Trade, Wave 2,
Pilot Program.
Ines Zucchino, SVP of Strategy
and ESG at Finastra said, "It's wonderful to see this solution come
together to deliver our customers tools which not only help drive
efficiencies in the lending space, but really have the potential to
make an impact when it comes to sustainability. This integration
demonstrates our commitment to helping the financial services
sector on its open finance and sustainability journeys."
About Finastra
Finastra is a global provider of financial software applications
and marketplaces, and launched the leading open platform for
innovation, FusionFabric.cloud, in 2017. It serves institutions of
all sizes, providing award-winning software solutions and services
across Lending, Payments, Treasury & Capital Markets and
Universal Banking (Retail, Digital and Commercial Banking) for
banks to support direct banking relationships and grow through
indirect channels, such as embedded finance and Banking as a
Service. Its pioneering approach and commitment to open finance and
collaboration is why it is trusted by over 8,000 institutions,
including 45 of the world's top 50 banks. For more information,
visit finastra.com.
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SOURCE Finastra